Ingalls & Snyder LLC cut its holdings in Oracle Corporation (NYSE:ORCL) by 22.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 483,695 shares of the enterprise software provider’s stock after selling 138,539 shares during the period. Oracle accounts for 1.2% of Ingalls & Snyder LLC’s portfolio, making the stock its 17th largest holding. Ingalls & Snyder LLC’s holdings in Oracle were worth $23,387,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ORCL. Macquarie Group Ltd. increased its stake in shares of Oracle by 6,353.4% in the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock worth $831,551,000 after purchasing an additional 18,351,920 shares in the last quarter. BT Investment Management Ltd purchased a new stake in shares of Oracle in the second quarter worth $459,738,000. Harris Associates L P increased its stake in shares of Oracle by 17.9% in the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after purchasing an additional 7,427,501 shares in the last quarter. FMR LLC increased its stake in shares of Oracle by 24.8% in the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock worth $1,658,750,000 after purchasing an additional 6,577,297 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Oracle by 2.6% in the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after purchasing an additional 5,270,359 shares in the last quarter. Institutional investors and hedge funds own 57.70% of the company’s stock.
A number of analysts have recently issued reports on the stock. J P Morgan Chase & Co set a $55.00 price objective on shares of Oracle and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada set a $51.00 price objective on shares of Oracle and gave the stock a “neutral” rating in a research note on Monday. Oppenheimer reissued a “hold” rating on shares of Oracle in a research note on Friday. Goldman Sachs Group set a $58.00 price objective on shares of Oracle and gave the stock a “buy” rating in a research note on Friday. Finally, Canaccord Genuity reduced their price objective on shares of Oracle from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Friday. Fourteen research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $55.26.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.72%. The business had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the company posted $0.61 EPS. The business’s revenue was up 6.2% on a year-over-year basis. sell-side analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.57%. Oracle’s payout ratio is currently 32.62%.
Oracle announced that its board has initiated a stock buyback program on Thursday, December 14th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total value of $183,112.50. Following the completion of the sale, the director now owns 18,125 shares in the company, valued at approximately $885,043.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dorian Daley sold 25,776 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $48.05, for a total transaction of $1,238,536.80. Following the completion of the sale, the executive vice president now owns 30,977 shares of the company’s stock, valued at approximately $1,488,444.85. The disclosure for this sale can be found here. Insiders sold a total of 302,026 shares of company stock valued at $14,633,187 in the last 90 days. Company insiders own 29.00% of the company’s stock.
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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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