Sanders Morris Harris LLC bought a new position in Oracle Co. (NYSE:ORCL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,460 shares of the enterprise software provider’s stock, valued at approximately $1,126,000.
Several other institutional investors have also recently modified their holdings of ORCL. Modus Advisors LLC purchased a new stake in Oracle in the second quarter worth $25,000. Okabena Investment Services Inc. purchased a new stake in Oracle in the second quarter worth $34,000. Balentine LLC purchased a new stake in Oracle in the first quarter worth $31,000. Rockbridge Investment Management LCC purchased a new stake in Oracle in the second quarter worth $44,000. Finally, Islay Capital Management LLC lifted its stake in Oracle by 80.0% in the second quarter. Islay Capital Management LLC now owns 900 shares of the enterprise software provider’s stock worth $50,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 48.24% of the company’s stock.
A number of brokerages recently commented on ORCL. Goldman Sachs Group raised their price target on Oracle from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, September 11th. UBS Group began coverage on Oracle in a research note on Wednesday. They issued a “neutral” rating and a $62.00 price target for the company. Societe Generale raised their price objective on Oracle from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 11th. Sanford C. Bernstein reissued a “buy” rating and set a $70.00 price objective on shares of Oracle in a research report on Monday, September 14th. Finally, Royal Bank of Canada raised Oracle from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $60.00 to $68.00 in a research report on Monday, September 21st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company. Oracle has a consensus rating of “Hold” and an average target price of $60.25.
NYSE ORCL traded down $0.23 during trading hours on Friday, hitting $60.29. The company’s stock had a trading volume of 6,070,963 shares, compared to its average volume of 13,511,885. Oracle Co. has a 12 month low of $39.71 and a 12 month high of $62.60. The company’s 50 day simple moving average is $58.95 and its two-hundred day simple moving average is $55.19. The company has a market cap of $181.53 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.44 and a beta of 0.83. The company has a debt-to-equity ratio of 6.68, a current ratio of 2.66 and a quick ratio of 3.03.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Thursday, September 10th. The enterprise software provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.86 by $0.07. Oracle had a return on equity of 85.71% and a net margin of 26.13%. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the company earned $0.81 EPS. As a group, research analysts predict that Oracle Co. will post 3.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 8th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $0.96 annualized dividend and a yield of 1.59%. Oracle’s payout ratio is 27.75%.
Oracle Company Profile
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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