Stockman Wealth Management Inc. lowered its stake in shares of Oracle Co. (NYSE:ORCL) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 94,011 shares of the enterprise software provider’s stock after selling 1,301 shares during the period. Oracle comprises about 2.1% of Stockman Wealth Management Inc.’s holdings, making the stock its 13th largest position. Stockman Wealth Management Inc.’s holdings in Oracle were worth $4,847,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Oracle in the third quarter worth approximately $107,000. WESPAC Advisors SoCal LLC bought a new position in shares of Oracle in the third quarter worth approximately $119,000. ELM Advisors LLC bought a new position in shares of Oracle in the third quarter worth approximately $122,000. Kiley Juergens Wealth Management LLC lifted its stake in shares of Oracle by 70.9% in the third quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock worth $141,000 after buying an additional 1,140 shares in the last quarter. Finally, Palo Capital Inc. bought a new position in shares of Oracle in the third quarter worth approximately $141,000. Institutional investors own 53.38% of the company’s stock.
Shares of ORCL stock opened at $50.61 on Friday. Oracle Co. has a 12 month low of $42.57 and a 12 month high of $53.48. The company has a market cap of $208.06 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.69 and a beta of 1.12. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.50%. Oracle’s dividend payout ratio is currently 26.95%.
Oracle announced that its Board of Directors has initiated a share buyback program on Monday, September 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
ORCL has been the topic of several analyst reports. Credit Suisse Group reiterated a “buy” rating and issued a $60.00 target price on shares of Oracle in a research note on Wednesday, October 24th. Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $49.00 target price (down previously from $50.00) on shares of Oracle in a research note on Tuesday, September 18th. Citigroup dropped their target price on shares of Oracle from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 18th. Finally, Barclays upped their target price on shares of Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. Seventeen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $53.71.
In other news, EVP Dorian Daley sold 131,696 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the completion of the sale, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $47.77, for a total transaction of $179,137.50. Following the completion of the sale, the director now directly owns 27,969 shares of the company’s stock, valued at $1,336,079.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,946 shares of company stock valued at $7,248,965. 32.00% of the stock is owned by corporate 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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