Hollencrest Capital Management boosted its position in shares of Oracle Co. (NYSE:ORCL) by 18.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,371 shares of the enterprise software provider’s stock after purchasing an additional 9,405 shares during the period. Hollencrest Capital Management’s holdings in Oracle were worth $3,113,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Truvestments Capital LLC bought a new position in shares of Oracle in the 3rd quarter valued at about $107,000. WESPAC Advisors SoCal LLC acquired a new stake in Oracle in the 3rd quarter valued at about $119,000. ELM Advisors LLC acquired a new stake in Oracle in the 3rd quarter valued at about $122,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Oracle in the 2nd quarter valued at about $126,000. Finally, Kiley Juergens Wealth Management LLC lifted its stake in Oracle by 70.9% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after purchasing an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors own 53.38% of the company’s stock.
Several equities research analysts recently issued reports on ORCL shares. UBS Group raised their target price on shares of Oracle from $48.00 to $51.00 and gave the company a “positive” rating in a research note on Thursday, August 9th. Societe Generale set a $50.00 target price on shares of Oracle and gave the company a “neutral” rating in a research note on Tuesday, August 14th. Zacks Investment Research downgraded shares of Oracle from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Barclays raised their target price on shares of Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Finally, KeyCorp reiterated a “hold” rating on shares of Oracle in a research note on Wednesday, September 12th. Seventeen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $53.71.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The company had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.26 billion. During the same period in the previous year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that Oracle Co. will post 3.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.51%. Oracle’s payout ratio is 26.95%.
Oracle declared that its Board of Directors has initiated a share repurchase plan on Monday, September 17th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $49.42, for a total value of $185,325.00. Following the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,382,227.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dorian Daley sold 131,696 shares of Oracle stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the completion of the transaction, the executive vice president now directly owns 109,615 shares in the company, valued at $5,582,691.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,946 shares of company stock valued at $7,248,965. 32.00% of the stock is owned by company insiders.
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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.
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