Commonwealth Equity Services Inc raised its stake in shares of Oracle Corporation (NYSE:ORCL) by 6.0% in the third quarter, HoldingsChannel.com reports. The fund owned 447,003 shares of the enterprise software provider’s stock after acquiring an additional 25,315 shares during the period. Commonwealth Equity Services Inc’s holdings in Oracle were worth $21,612,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Acrospire Investment Management LLC raised its holdings in shares of Oracle by 947.4% in 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 last quarter. Burt Wealth Advisors raised its holdings in shares of Oracle by 4.3% in 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 last quarter. State of Alaska Department of Revenue bought a new position in shares of Oracle in the second quarter valued at about $129,000. ETF Managers Group LLC bought a new position in shares of Oracle in the second quarter valued at about $133,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its holdings in shares of Oracle by 17.4% in 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 last quarter. 57.89% of the stock is owned by institutional investors.
A number of analysts recently commented on the company. Oppenheimer reiterated a “hold” rating on shares of Oracle in a research report on Friday, December 15th. Zacks Investment Research lowered Oracle from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Vetr upgraded Oracle from a “buy” rating to a “strong-buy” rating and set a $55.49 price objective for the company in a research report on Monday, November 13th. Stifel Nicolaus reiterated a “buy” rating on shares of Oracle in a research report on Sunday, October 22nd. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $62.00 price objective on shares of Oracle in a research report on Tuesday, November 21st. 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 company. Oracle presently has an average rating of “Buy” and an average target price of $55.27.
Oracle (NYSE:ORCL) last posted its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The company had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. equities research analysts predict that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a $0.19 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.51%. Oracle’s dividend payout ratio is presently 32.62%.
Oracle announced that its board has approved a stock buyback plan on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $48.40, for a total value of $181,500.00. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $877,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the transaction, the executive vice president now owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders sold a total of 111,250 shares of company stock valued at $5,310,063 over the last quarter. 29.00% of the stock is owned by insiders.
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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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