Toronto Dominion Bank boosted its position in shares of Oracle Co. (NYSE:ORCL) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,643,462 shares of the enterprise software provider’s stock after purchasing an additional 12,993 shares during the period. Toronto Dominion Bank’s holdings in Oracle were worth $79,482,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ORCL. Meridian Investment Counsel Inc. increased its holdings in shares of Oracle by 0.7% during the 4th quarter. Meridian Investment Counsel Inc. now owns 27,583 shares of the enterprise software provider’s stock valued at $1,461,000 after acquiring an additional 193 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Oracle by 2.7% during the first quarter. Exchange Traded Concepts LLC now owns 7,391 shares of the enterprise software provider’s stock worth $357,000 after purchasing an additional 194 shares during the period. Monte Financial Group LLC grew its holdings in Oracle by 2.0% during the fourth quarter. Monte Financial Group LLC now owns 10,058 shares of the enterprise software provider’s stock valued at $533,000 after purchasing an additional 196 shares during the last quarter. Princeton Portfolio Strategies Group LLC lifted its stake in shares of Oracle by 1.1% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 17,437 shares of the enterprise software provider’s stock worth $843,000 after buying an additional 197 shares during the last quarter. Finally, Hartline Investment Corp lifted its stake in shares of Oracle by 3.4% in the fourth quarter. Hartline Investment Corp now owns 6,098 shares of the enterprise software provider’s stock worth $323,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 48.14% of the company’s stock.
Shares of NYSE ORCL traded down $0.14 during midday trading on Tuesday, reaching $52.92. 539,814 shares of the company traded hands, compared to its average volume of 10,258,350. Oracle Co. has a 12 month low of $39.71 and a 12 month high of $60.50. The company has a debt-to-equity ratio of 3.31, a quick ratio of 2.12 and a current ratio of 2.12. The stock’s 50-day simple moving average is $52.99 and its 200-day simple moving average is $52.87. The firm has a market cap of $169.57 billion, a PE ratio of 16.68, a PEG ratio of 1.41 and a beta of 0.89.
Oracle announced that its board has authorized a stock repurchase plan on Thursday, March 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to reacquire up to 9.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of research analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and set a $49.00 target price (down previously from $56.00) on shares of Oracle in a research report on Wednesday, March 11th. BMO Capital Markets lowered their target price on Oracle from $62.00 to $46.00 and set a “market perform” rating on the stock in a report on Friday, March 13th. Jefferies Financial Group reissued a “neutral” rating and issued a $55.00 price objective on shares of Oracle in a research report on Thursday, April 9th. JPMorgan Chase & Co. raised shares of Oracle from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $51.00 to $55.00 in a research report on Friday, March 20th. Finally, Morgan Stanley decreased their price target on shares of Oracle from $63.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, March 16th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $53.67.
In other Oracle news, CEO Safra Catz sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $51.73, for a total value of $51,730,000.00. Following the transaction, the chief executive officer now owns 2,368,592 shares of the company’s stock, valued at $122,527,264.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles W. Moorman acquired 10,000 shares of Oracle stock in a transaction on Monday, March 23rd. The stock was acquired at an average cost of $45.23 per share, for a total transaction of $452,300.00. Following the purchase, the director now owns 18,561 shares of the company’s stock, valued at approximately $839,514.03. The disclosure for this purchase can be found here. Company insiders own 36.60% of the company’s stock.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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