Knights of Columbus Asset Advisors LLC reduced its holdings in shares of Oracle Co. (NYSE:ORCL) by 41.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,564 shares of the enterprise software provider’s stock after selling 10,366 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Oracle were worth $1,269,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC grew its stake in shares of Oracle by 183.5% in the third quarter. NewSquare Capital LLC now owns 309 shares of the enterprise software provider’s stock valued at $27,000 after buying an additional 200 shares in the last quarter. Investment Research & Advisory Group Inc. acquired a new stake in Oracle during the 3rd quarter valued at $28,000. Financial Insights Inc. acquired a new stake in shares of Oracle during the second quarter worth $28,000. Samalin Investment Counsel LLC acquired a new stake in shares of Oracle during the second quarter worth $28,000. Finally, Destiny Wealth Partners LLC acquired a new stake in shares of Oracle during the third quarter worth $41,000. 42.88% of the stock is owned by institutional investors.
Shares of NYSE ORCL opened at $87.69 on Friday. The stock has a market cap of $234.17 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 2.54 and a beta of 0.80. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 12.77. Oracle Co. has a 1-year low of $59.74 and a 1-year high of $106.34. The stock’s 50-day moving average is $91.99 and its 200 day moving average is $90.55.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 19th. Stockholders of record on Friday, January 7th will be given a $0.32 dividend. The ex-dividend date is Thursday, January 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.46%. Oracle’s dividend payout ratio is currently 37.10%.
Oracle announced that its board has approved a share repurchase program on Thursday, December 9th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
A number of equities research analysts have recently weighed in on ORCL shares. Credit Suisse Group set a $115.00 target price on Oracle in a report on Wednesday, December 29th. Citigroup lifted their target price on Oracle from $89.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 10th. They noted that the move was a valuation call. Wolfe Research lifted their target price on Oracle from $80.00 to $95.00 and gave the company a “market perform” rating in a research report on Friday, December 10th. JPMorgan Chase & Co. set a $110.00 target price on Oracle in a research report on Friday, December 10th. Finally, Oppenheimer restated a “hold” rating on shares of Oracle in a report on Friday, December 10th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.38.
In other news, EVP Dorian Daley sold 20,482 shares of the business’s stock in a transaction on Thursday, December 23rd. The stock was sold at an average price of $89.69, for a total value of $1,837,030.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Naomi O. Seligman sold 30,000 shares of the business’s stock in a transaction on Monday, December 27th. The stock was sold at an average price of $89.27, for a total value of $2,678,100.00. The disclosure for this sale can be found here. 39.10% of the stock is currently owned by company insiders.
Oracle Company Profile
Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.
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