Markston International LLC decreased its position in Oracle Corporation (NYSE:ORCL) by 7.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 252,496 shares of the enterprise software provider’s stock after selling 20,921 shares during the period. Markston International LLC’s holdings in Oracle were worth $12,208,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Cardinal Capital Management Inc. boosted its position in shares of Oracle by 1.8% during the 2nd quarter. Cardinal Capital Management Inc. now owns 237,723 shares of the enterprise software provider’s stock worth $11,919,000 after purchasing an additional 4,095 shares during the period. Prentiss Smith & Co. Inc. boosted its position in shares of Oracle by 548.4% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 71,846 shares of the enterprise software provider’s stock worth $3,602,000 after purchasing an additional 60,766 shares during the period. Highwater Wealth Management LLC purchased a new position in shares of Oracle during the 2nd quarter worth approximately $205,000. Hellman Jordan Management Co. Inc. MA purchased a new position in shares of Oracle during the 2nd quarter worth approximately $1,469,000. Finally, First Hawaiian Bank boosted its position in shares of Oracle by 3.6% during the 2nd quarter. First Hawaiian Bank now owns 6,390 shares of the enterprise software provider’s stock worth $321,000 after purchasing an additional 225 shares during the period. 57.89% of the stock is owned by institutional investors and hedge funds.
Shares of Oracle Corporation (NYSE ORCL) opened at $49.59 on Wednesday. Oracle Corporation has a fifty-two week low of $38.88 and a fifty-two week high of $53.14. The firm has a market cap of $204,951.69, a price-to-earnings ratio of 21.28, a PEG ratio of 1.89 and a beta of 1.05. 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 the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the business earned $0.61 EPS. The company’s revenue was up 6.2% on a year-over-year basis. sell-side analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.53%. Oracle’s payout ratio is 32.62%.
Oracle declared that its board has approved a share buyback plan on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms recently weighed in on ORCL. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 price objective on shares of Oracle in a research report on Tuesday, January 2nd. BTIG Research reaffirmed a “buy” rating and set a $58.00 price objective on shares of Oracle in a research report on Tuesday, September 19th. BidaskClub cut shares of Oracle from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. BMO Capital Markets lowered their price objective on shares of Oracle from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, December 15th. Finally, Morgan Stanley raised shares of Oracle from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $46.63 to $47.71 in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have given a buy rating to the stock. The stock 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 stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following 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 this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on 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 transaction, the director now directly owns 18,125 shares in the company, valued at $877,250. The disclosure for this sale can be found here. Insiders sold a total of 107,500 shares of company stock worth $5,123,613 over the last 90 days. Company insiders own 29.00% of the company’s stock.
Oracle Company Profile
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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