Parkside Financial Bank & Trust lifted its stake in Oracle Co. (NYSE:ORCL) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,898 shares of the enterprise software provider’s stock after purchasing an additional 1,425 shares during the period. Parkside Financial Bank & Trust’s holdings in Oracle were worth $765,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Evolution Wealth Advisors LLC boosted its holdings in shares of Oracle by 346.0% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock valued at $25,000 after buying an additional 346 shares in the last quarter. 1 North Wealth Services LLC bought a new stake in shares of Oracle in the 3rd quarter valued at about $28,000. Winthrop Partners WNY LLC bought a new stake in shares of Oracle in the 3rd quarter valued at about $30,000. C J Advisory Inc bought a new stake in shares of Oracle in the 3rd quarter valued at about $31,000. Finally, Next Capital Management LLC bought a new stake in shares of Oracle in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 53.90% of the company’s stock.
ORCL traded up $0.51 during trading on Friday, reaching $56.49. 5,708,292 shares of the company’s stock were exchanged, compared to its average volume of 9,699,096. Oracle Co. has a 1 year low of $42.40 and a 1 year high of $60.50. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.25 and a quick ratio of 2.25. The stock has a market capitalization of $182.74 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.65 and a beta of 1.16. The company’s fifty day simple moving average is $54.79 and its 200-day simple moving average is $54.81.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Wednesday, October 9th. Oracle’s dividend payout ratio is presently 30.38%.
Oracle declared that its board has initiated a share repurchase program on Wednesday, September 11th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the enterprise software provider to purchase up to 8.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of analysts have recently weighed in on ORCL shares. Cowen started coverage on shares of Oracle in a report on Friday, August 16th. They issued a “buy” rating and a $65.00 price target on the stock. Wedbush restated a “neutral” rating and issued a $55.00 price target on shares of Oracle in a report on Friday, September 13th. Goldman Sachs Group set a $62.00 price target on shares of Oracle and gave the company a “buy” rating in a report on Friday, September 20th. Credit Suisse Group set a $62.00 price objective on shares of Oracle and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, ValuEngine lowered shares of Oracle from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $56.80.
In other Oracle news, Director Hector Garcia-Molina sold 4,643 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $56.59, for a total transaction of $262,747.37. Following the completion of the transaction, the director now directly owns 38,562 shares of the company’s stock, valued at approximately $2,182,223.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dorian Daley sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the transaction, the executive vice president now directly owns 50,000 shares of the company’s stock, valued at $2,750,500. The disclosure for this sale can be found here. Insiders have sold a total of 849,786 shares of company stock valued at $44,213,156 over the last three months. 36.60% of the stock is currently owned by insiders.
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.
Featured Story: Penny Stocks
Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Co. (NYSE:ORCL).
Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.