First Allied Advisory Services Inc. lessened its stake in shares of Oracle Co. (NYSE:ORCL) by 21.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,198 shares of the enterprise software provider’s stock after selling 20,862 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Oracle were worth $3,593,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its holdings in shares of Oracle by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares during the last quarter. Burt Wealth Advisors raised its holdings in shares of Oracle by 4.3% in the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after acquiring an additional 88 shares during the last quarter. ETF Managers Group LLC acquired a new stake in shares of Oracle in the 2nd quarter worth about $133,000. Monroe Bank & Trust MI raised its holdings in shares of Oracle by 30.5% in the 2nd quarter. Monroe Bank & Trust MI now owns 2,885 shares of the enterprise software provider’s stock worth $144,000 after acquiring an additional 675 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Oracle by 30.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 2,998 shares of the enterprise software provider’s stock worth $150,000 after acquiring an additional 702 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction 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 directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total transaction of $183,112.50. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at $885,043.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,956,250 shares of company stock valued at $98,313,363. Insiders own 29.00% of the company’s stock.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The firm had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. analysts predict that Oracle Co. will post 2.68 earnings per share for the current year.
Oracle announced that its board has initiated a share repurchase program on Thursday, December 14th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, January 9th. Oracle’s payout ratio is 32.62%.
ORCL has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. BidaskClub upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Stifel Nicolaus reiterated a “buy” rating on shares of Oracle in a research note on Sunday, October 22nd. Vetr lowered shares of Oracle from a “buy” rating to a “hold” rating and set a $51.74 price objective for the company. in a research note on Tuesday, October 24th. Finally, UBS Group reiterated a “neutral” rating and issued a $55.00 price objective (down previously from $57.00) on shares of Oracle in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirty have given a buy rating to the stock. Oracle has a consensus rating of “Buy” and an average target price of $55.39.
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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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