Cambridge Investment Research Advisors Inc. boosted its holdings in Oracle Corporation (NYSE:ORCL) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,924 shares of the enterprise software provider’s stock after purchasing an additional 10,532 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Oracle were worth $11,310,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Keel Point LLC grew its position in Oracle by 0.3% in the second quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock valued at $268,000 after purchasing an additional 14 shares in the last quarter. Joel Isaacson & Co. LLC grew its position in Oracle by 0.3% in the second quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock valued at $411,000 after purchasing an additional 24 shares in the last quarter. Flagship Harbor Advisors LLC grew its position in Oracle by 0.4% in the second quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock valued at $404,000 after purchasing an additional 35 shares in the last quarter. Partnervest Advisory Services LLC grew its position in Oracle by 0.6% in the second quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after purchasing an additional 39 shares in the last quarter. Finally, Klingenstein Fields & Co. LLC grew its position in Oracle by 0.9% in the second quarter. Klingenstein Fields & Co. LLC now owns 6,679 shares of the enterprise software provider’s stock valued at $335,000 after purchasing an additional 62 shares in the last quarter. 57.89% of the stock is owned by institutional investors and hedge funds.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction dated 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 sale, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $48.40, for a total transaction of $181,500.00. Following the completion of the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $877,250. 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 in the last quarter. Corporate insiders own 29.00% of the company’s stock.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the 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 business had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the previous year, the company earned $0.61 EPS. The business’s revenue was up 6.2% on a year-over-year basis. equities analysts expect that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
Oracle announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is 32.62%.
A number of brokerages have commented on ORCL. Canaccord Genuity began coverage on shares of Oracle in a research note on Friday, October 6th. They issued a “buy” rating and a $57.00 price target for the company. Goldman Sachs Group set a $56.00 price target on shares of Oracle and gave the company a “buy” rating in a research note on Friday, October 6th. KeyCorp reiterated a “buy” rating on shares of Oracle in a research note on Wednesday, October 4th. Stifel Nicolaus reiterated a “buy” rating on shares of Oracle in a research note on Sunday, October 22nd. Finally, BidaskClub upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $55.27.
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Oracle Company Profile
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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