Ontario Teachers Pension Plan Board decreased its stake in shares of Oracle Co. (NYSE:ORCL) by 17.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,905 shares of the enterprise software provider’s stock after selling 37,016 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Oracle were worth $8,317,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Beach Investment Management LLC. purchased a new position in shares of Oracle in the 2nd quarter valued at about $336,000. Amalgamated Bank increased its holdings in shares of Oracle by 56.0% in the 2nd quarter. Amalgamated Bank now owns 328,026 shares of the enterprise software provider’s stock valued at $16,447,000 after acquiring an additional 117,776 shares during the last quarter. BT Investment Management Ltd purchased a new position in shares of Oracle in the 2nd quarter valued at about $459,738,000. Profund Advisors LLC increased its holdings in shares of Oracle by 16.7% in the 2nd quarter. Profund Advisors LLC now owns 99,724 shares of the enterprise software provider’s stock valued at $5,000,000 after acquiring an additional 14,294 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Oracle by 9.4% in the 2nd quarter. ProShare Advisors LLC now owns 369,083 shares of the enterprise software provider’s stock valued at $18,506,000 after acquiring an additional 31,795 shares during the last quarter. Institutional investors own 57.94% of the company’s stock.
Oracle stock opened at $44.83 on Friday. The company has a quick ratio of 4.30, a current ratio of 4.33 and a debt-to-equity ratio of 1.16. The company has a market cap of $188,393.28, a price-to-earnings ratio of 18.00, a P/E/G ratio of 1.68 and a beta of 1.15. Oracle Co. has a twelve month low of $43.60 and a twelve month high of $53.48.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, April 16th. This represents a $0.76 annualized dividend and a dividend yield of 1.70%. Oracle’s dividend payout ratio is currently 30.52%.
Oracle announced that its board has approved a stock repurchase plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have recently commented on ORCL shares. JPMorgan Chase set a $55.00 price objective on Oracle and gave the company a “buy” rating in a report on Monday, December 18th. Wedbush reiterated a “buy” rating and issued a $58.00 price objective on shares of Oracle in a report on Friday, December 15th. Goldman Sachs set a $58.00 price objective on Oracle and gave the company a “buy” rating in a report on Friday, December 15th. Canaccord Genuity dropped their price objective on Oracle from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, December 15th. Finally, Jefferies Group set a $61.00 price objective on Oracle and gave the company a “buy” rating in a report on Friday, December 15th. Sixteen equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Oracle presently has an average rating of “Buy” and a consensus target price of $56.11.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $49.72, for a total value of $186,450.00. Following the completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $901,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Kurian sold 1,700,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $50.29, for a total value of $85,493,000.00. Following the completion of the sale, the insider now directly owns 1,522,983 shares of the company’s stock, valued at $76,590,815.07. The disclosure for this sale can be found here. Insiders sold a total of 1,981,250 shares of company stock valued at $99,315,438 over the last three months. Insiders own 29.00% of the company’s stock.
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Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure technologies for information technology (IT) environments worldwide. It 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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