Rhumbline Advisers boosted its stake in shares of Oracle Corporation (NYSE:ORCL) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,368,060 shares of the enterprise software provider’s stock after buying an additional 19,989 shares during the period. Rhumbline Advisers’ holdings in Oracle were worth $259,546,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its position in Oracle by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 10,159,207 shares of the enterprise software provider’s stock valued at $509,383,000 after purchasing an additional 450,836 shares during the period. Partnervest Advisory Services LLC raised its position in Oracle by 0.6% in the second quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after purchasing an additional 39 shares during the period. Lockheed Martin Investment Management Co. raised its position in Oracle by 125.6% in the second quarter. Lockheed Martin Investment Management Co. now owns 166,160 shares of the enterprise software provider’s stock valued at $8,331,000 after purchasing an additional 92,500 shares during the period. Pinnacle Financial Partners Inc. raised its position in Oracle by 8.9% in the second quarter. Pinnacle Financial Partners Inc. now owns 113,707 shares of the enterprise software provider’s stock valued at $5,701,000 after purchasing an additional 9,328 shares during the period. Finally, BT Investment Management Ltd purchased a new stake in Oracle in the second quarter valued at $459,738,000. 57.89% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on ORCL shares. Vetr upgraded Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 target price on the stock in a research report on Monday, September 18th. Bank of America restated a “buy” rating and issued a $62.00 target price on shares of Oracle in a research report on Monday, September 18th. Wells Fargo & Co restated an “overweight” rating and issued a $62.50 target price on shares of Oracle in a research report on Monday, September 18th. Credit Suisse Group restated an “overweight” rating and issued a $62.00 target price on shares of Oracle in a research report on Monday, September 18th. Finally, BTIG Research restated a “buy” rating and issued a $58.00 target price on shares of Oracle in a research report on Tuesday, September 19th. One 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. Oracle currently has an average rating of “Buy” and a consensus target price of $55.28.
In related news, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the transaction, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total value of $183,112.50. Following the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at $885,043.75. The disclosure for this sale can be found here. Insiders have sold a total of 107,500 shares of company stock valued at $5,123,613 over the last three months. 29.00% of the stock is currently owned by insiders.
Oracle Corporation (NYSE ORCL) opened at $49.51 on Monday. Oracle Corporation has a one year low of $38.88 and a one year high of $53.14. The company has a market capitalization of $206,630.00, a price-to-earnings ratio of 21.25, a P/E/G ratio of 1.89 and a beta of 1.05. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03.
Oracle (NYSE:ORCL) last released its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the previous year, the firm posted $0.61 EPS. Oracle’s revenue for the quarter was up 6.2% on a year-over-year basis. analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 annualized dividend and a yield of 1.54%. Oracle’s payout ratio is 32.62%.
Oracle declared that its board has initiated a stock buyback program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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.
Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Corporation (NYSE:ORCL).
Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.