Northwestern Mutual Wealth Management Co. increased its holdings in shares of Oracle Co. (NYSE:ORCL) by 6.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 252,852 shares of the enterprise software provider’s stock after purchasing an additional 15,859 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Oracle were worth $11,955,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of ORCL. Beach Investment Management LLC. acquired a new stake in Oracle during the 2nd quarter worth approximately $336,000. Burt Wealth Advisors increased its position in Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after purchasing an additional 88 shares in the last quarter. Usca Ria LLC increased its position in Oracle by 5.0% during the 2nd quarter. Usca Ria LLC now owns 39,791 shares of the enterprise software provider’s stock worth $1,995,000 after purchasing an additional 1,904 shares in the last quarter. GHP Investment Advisors Inc. increased its position in Oracle by 4.2% during the 2nd quarter. GHP Investment Advisors Inc. now owns 76,114 shares of the enterprise software provider’s stock worth $3,816,000 after purchasing an additional 3,081 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Oracle by 9.4% in the 2nd quarter. Prudential Financial Inc. now owns 9,945,223 shares of the enterprise software provider’s stock worth $498,653,000 after acquiring an additional 857,380 shares during the period. 57.26% of the stock is owned by hedge funds and other institutional investors.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction 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 sale, the director now directly owns 18,125 shares of the company’s stock, valued at $877,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Naomi O. Seligman sold 45,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $51.34, for a total value of $2,310,300.00. Following the completion of the sale, the director now directly owns 62,498 shares in the company, valued at $3,208,647.32. The disclosure for this sale can be found here. Insiders sold 1,956,250 shares of company stock worth $98,316,475 over the last ninety days. 29.00% of the stock is owned by corporate insiders.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share 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 firm had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. analysts predict that Oracle Co. will post 2.68 EPS for the current fiscal year.
Oracle announced that its Board of Directors has authorized a stock buyback program on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
ORCL has been the subject of a number of analyst reports. Vetr upgraded Oracle from a “buy” rating to a “strong-buy” rating and set a $55.49 price target for the company in a report on Monday, November 13th. Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, November 15th. Drexel Hamilton restated a “buy” rating and issued a $62.00 price target on shares of Oracle in a report on Tuesday, November 21st. Royal Bank of Canada upped their price target on Oracle to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, December 6th. Finally, JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the stock a “buy” rating in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Oracle currently has an average rating of “Buy” and a consensus target price of $55.38.
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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