Regal Investment Advisors LLC bought a new stake in Oracle Co. (NYSE:ORCL) in the fourth quarter, Holdings Channel reports. The institutional investor bought 42,436 shares of the enterprise software provider’s stock, valued at approximately $2,006,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keel Point LLC increased its holdings in Oracle by 0.3% during the 2nd 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 during the period. Flagship Harbor Advisors LLC increased its holdings in Oracle by 0.4% during the 2nd 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 during the period. Highland Private Wealth Management increased its holdings in Oracle by 0.7% during the 2nd quarter. Highland Private Wealth Management now owns 9,660 shares of the enterprise software provider’s stock valued at $485,000 after purchasing an additional 70 shares during the period. Calamos Wealth Management LLC increased its holdings in Oracle by 0.4% during the 2nd quarter. Calamos Wealth Management LLC now owns 19,893 shares of the enterprise software provider’s stock valued at $997,000 after purchasing an additional 73 shares during the period. Finally, Israel Discount Bank of New York increased its holdings in Oracle by 0.5% during the 2nd quarter. Israel Discount Bank of New York now owns 18,025 shares of the enterprise software provider’s stock valued at $904,000 after purchasing an additional 90 shares during the period. 57.93% of the stock is owned by institutional investors.
A number of research analysts recently issued reports on ORCL shares. Zacks Investment Research downgraded Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Royal Bank of Canada boosted their price target on Oracle to $53.00 and gave the company an “outperform” rating in a report on Wednesday, December 6th. Vetr downgraded Oracle from a “buy” rating to a “hold” rating and set a $52.33 price target on the stock. in a report on Monday, December 11th. Drexel Hamilton restated a “buy” rating and set a $62.00 price target on shares of Oracle in a report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. set a $55.00 target price on Oracle and gave the stock a “buy” rating in a report on Tuesday, December 12th. Fifteen investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Oracle currently has an average rating of “Buy” and an average target price of $56.11.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. The business had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Oracle had a return on equity of 21.77% and a net margin of 9.25%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. equities analysts anticipate that Oracle Co. will post 2.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.70%. Oracle’s dividend payout ratio (DPR) is presently 92.68%.
Oracle declared that its board has authorized a stock repurchase plan on Thursday, December 14th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Thomas Kurian sold 1,700,000 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the transaction, the insider now directly owns 1,522,983 shares of the company’s stock, valued at approximately $76,590,815.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $49.72, for a total value of $186,450.00. Following the transaction, the director now directly owns 18,125 shares in the company, valued at $901,175. The disclosure for this sale can be found here. Insiders sold a total of 1,856,250 shares of company stock worth $93,571,688 over the last ninety days. 29.00% of the stock is currently owned by insiders.
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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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