Ballentine Partners LLC lifted its stake in shares of Oracle Corporation (NYSE:ORCL) by 17.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,982 shares of the enterprise software provider’s stock after purchasing an additional 3,659 shares during the period. Ballentine Partners LLC’s holdings in Oracle were worth $1,207,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Acrospire Investment Management LLC raised its position in Oracle by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after buying an additional 1,800 shares during the period. Burt Wealth Advisors raised its position in Oracle by 4.3% during the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after buying an additional 88 shares during the period. State of Alaska Department of Revenue acquired a new position in Oracle during the second quarter valued at $129,000. ETF Managers Group LLC acquired a new position in Oracle during the second quarter valued at $133,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in Oracle by 17.4% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,702 shares of the enterprise software provider’s stock valued at $135,000 after buying an additional 400 shares during the period. 57.89% of the stock is currently owned by institutional investors.
In other news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the sale, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total value of $183,112.50. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $885,043.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,250 shares of company stock valued at $5,306,238. 29.00% of the stock is currently owned by corporate insiders.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 EPS. research analysts expect that Oracle Corporation will post 2.68 earnings per share for the current year.
Oracle declared that its board has authorized a stock repurchase program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.55%. Oracle’s dividend payout ratio (DPR) is presently 32.62%.
Several research analysts recently weighed in on the company. Barclays upped their price target on Oracle from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, September 15th. Mitsubishi UFJ Financial Group reissued a “buy” rating and set a $63.00 price target on shares of Oracle in a research report on Friday, September 15th. Oppenheimer reissued a “hold” rating on shares of Oracle in a research report on Friday, September 15th. Jefferies Group upped their price target on Oracle from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, September 15th. Finally, Zacks Investment Research lowered Oracle from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.28.
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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