FineMark National Bank & Trust increased its holdings in shares of Oracle Corporation (NYSE:ORCL) by 23.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,862 shares of the enterprise software provider’s stock after acquiring an additional 10,266 shares during the period. FineMark National Bank & Trust’s holdings in Oracle were worth $2,604,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Total Investment Management Inc. grew its holdings in Oracle by 11.7% in the third quarter. Total Investment Management Inc. now owns 28,546 shares of the enterprise software provider’s stock valued at $1,380,000 after purchasing an additional 3,000 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Oracle by 15.1% in the third quarter. Public Employees Retirement Association of Colorado now owns 3,603,143 shares of the enterprise software provider’s stock valued at $174,212,000 after purchasing an additional 473,102 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Oracle by 17.2% in the third quarter. Canada Pension Plan Investment Board now owns 4,750,762 shares of the enterprise software provider’s stock valued at $229,699,000 after purchasing an additional 697,747 shares during the last quarter. Palouse Capital Management Inc. grew its holdings in Oracle by 1.5% in the third quarter. Palouse Capital Management Inc. now owns 76,677 shares of the enterprise software provider’s stock valued at $3,707,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Hallmark Capital Management Inc. lifted its position in shares of Oracle by 1.0% in the third quarter. Hallmark Capital Management Inc. now owns 354,044 shares of the enterprise software provider’s stock valued at $17,119,000 after acquiring an additional 3,364 shares in the last quarter. 57.89% of the stock is currently owned by hedge funds and other institutional investors.
Oracle Corporation (NYSE:ORCL) opened at $47.28 on Monday. The company has a market capitalization of $195,720.38, a PE ratio of 20.29, a PEG ratio of 1.80 and a beta of 1.05. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. Oracle Corporation has a twelve month low of $38.30 and a twelve month high of $53.14.
Oracle announced that its board has initiated a share repurchase plan on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.61%. Oracle’s dividend payout ratio (DPR) is 32.62%.
In other news, EVP Dorian Daley sold 76,703 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $49.00, for a total value of $3,758,447.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $48.40, for a total value of $181,500.00. Following the completion of the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $877,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,953 shares of company stock worth $9,064,685. Company insiders own 29.00% of the company’s stock.
ORCL has been the topic of several recent research reports. BidaskClub upgraded Oracle from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Rosenblatt Securities restated a “buy” rating and issued a $58.00 price objective on shares of Oracle in a research report on Monday, September 11th. Moffett Nathanson initiated coverage on Oracle in a research report on Wednesday, September 6th. They issued a “buy” rating and a $65.00 price objective on the stock. Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Thursday, September 14th. Finally, Drexel Hamilton restated a “buy” rating and issued a $62.00 price objective on shares of Oracle in a research report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $55.26.
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Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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