Manning & Napier Advisors LLC Sells 8,640 Shares of Oracle Corporation (ORCL)

Manning & Napier Advisors LLC decreased its holdings in shares of Oracle Corporation (NYSE:ORCL) by 9.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 78,565 shares of the enterprise software provider’s stock after selling 8,640 shares during the period. Manning & Napier Advisors LLC’s holdings in Oracle were worth $3,798,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Acrospire Investment Management LLC increased its stake in Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after buying an additional 1,800 shares during the period. Burt Wealth Advisors increased its stake in Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after buying an additional 88 shares during the period. IHT Wealth Management LLC increased its stake in Oracle by 65.9% during the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after buying an additional 947 shares during the period. State of Alaska Department of Revenue purchased a new stake in Oracle during the 2nd quarter worth $129,000. Finally, ETF Managers Group LLC purchased a new stake in Oracle during the 2nd quarter worth $133,000. Institutional investors and hedge funds own 57.89% of the company’s stock.

Shares of Oracle Corporation (NYSE ORCL) opened at $50.58 on Friday. The firm has a market cap of $207,932.20, a PE ratio of 21.71, a PEG ratio of 1.92 and a beta of 1.05. Oracle Corporation has a 1 year low of $39.43 and a 1 year high of $53.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. equities research analysts forecast that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.

Oracle announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Tuesday, January 9th. Oracle’s dividend payout ratio is presently 32.62%.

In related news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $48.40, for a total transaction of $181,500.00. Following the completion of the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $877,250. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Kurian sold 1,700,000 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the sale, the insider now directly owns 1,522,983 shares of the company’s stock, valued at approximately $76,590,815.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,811,250 shares of company stock valued at $90,803,063. Insiders own 29.00% of the company’s stock.

Several research firms recently issued reports on ORCL. Vetr raised shares of Oracle from a “hold” rating to a “strong-buy” rating and set a $60.60 price target on the stock in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Royal Bank of Canada set a $53.00 price target on shares of Oracle and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 price target on shares of Oracle in a research note on Tuesday, December 12th. Finally, JPMorgan Chase & Co. set a $55.00 price target on shares of Oracle and gave the stock a “buy” rating in a research note on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $55.27.

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About Oracle

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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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