HighPoint Advisor Group LLC boosted its holdings in shares of Oracle Corporation (NYSE:ORCL) by 18.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,845 shares of the enterprise software provider’s stock after purchasing an additional 4,908 shares during the period. HighPoint Advisor Group LLC’s holdings in Oracle were worth $1,551,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ORCL. Acrospire Investment Management LLC lifted its stake in shares of Oracle by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after acquiring an additional 1,800 shares during the last quarter. Burt Wealth Advisors lifted its stake in shares of Oracle by 4.3% in the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after acquiring an additional 88 shares during the last quarter. IHT Wealth Management LLC lifted its stake in shares of Oracle by 65.9% in the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock valued at $154,000 after acquiring an additional 947 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Oracle in the 2nd quarter valued at $129,000. Finally, ETF Managers Group LLC bought a new position in shares of Oracle in the 2nd quarter valued at $133,000. Hedge funds and other institutional investors own 57.89% of the company’s stock.
Oracle Corporation (ORCL) opened at $49.59 on Wednesday. Oracle Corporation has a 1 year low of $38.88 and a 1 year high of $53.14. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07. The company has a market cap of $206,960.00, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.
Oracle announced that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.53%. Oracle’s dividend payout ratio is currently 32.62%.
In other news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the sale, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $48.40, for a total transaction of $181,500.00. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $877,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,500 shares of company stock valued at $5,123,613. 29.00% of the stock is currently owned by company insiders.
ORCL has been the subject of a number of recent research reports. Morgan Stanley upgraded Oracle from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $46.63 to $47.71 in a report on Wednesday, January 3rd. Drexel Hamilton restated a “buy” rating and issued a $62.00 price objective on shares of Oracle in a report on Tuesday, January 2nd. ValuEngine upgraded Oracle from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research downgraded Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Finally, Wedbush restated a “buy” rating and issued a $58.00 price objective on shares of Oracle in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. Oracle has an average rating of “Buy” and an average price target of $55.28.
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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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