United Services Automobile Association trimmed its holdings in Oracle Co. (NYSE:ORCL) by 8.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,216,416 shares of the enterprise software provider’s stock after selling 600,155 shares during the period. Oracle accounts for approximately 0.7% of United Services Automobile Association’s holdings, making the stock its 18th largest position. United Services Automobile Association owned about 0.15% of Oracle worth $273,895,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Rehmann Capital Advisory Group boosted its holdings in shares of Oracle by 121.2% during the 2nd quarter. Rehmann Capital Advisory Group now owns 26,054 shares of the enterprise software provider’s stock worth $562,000 after buying an additional 14,274 shares during the period. Royal London Asset Management Ltd. bought a new stake in shares of Oracle during the 2nd quarter worth $54,770,000. SP Asset Management bought a new stake in shares of Oracle during the 2nd quarter worth $6,156,000. HM Payson & Co. boosted its holdings in shares of Oracle by 18.2% during the 2nd quarter. HM Payson & Co. now owns 667,969 shares of the enterprise software provider’s stock worth $29,431,000 after buying an additional 102,867 shares during the period. Finally, BDO Wealth Advisors LLC boosted its holdings in shares of Oracle by 56.0% during the 2nd quarter. BDO Wealth Advisors LLC now owns 7,344 shares of the enterprise software provider’s stock worth $324,000 after buying an additional 2,635 shares during the period. 53.40% of the stock is owned by institutional investors.
ORCL has been the subject of a number of research reports. JPMorgan Chase & Co. downgraded shares of Oracle from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $53.00 in a report on Thursday, June 14th. Barclays increased their price target on shares of Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 7th. Zacks Investment Research downgraded shares of Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Bank of America increased their price target on shares of Oracle from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, September 18th. Finally, Societe Generale set a $50.00 price target on shares of Oracle and gave the company a “neutral” rating in a report on Tuesday, August 14th. Sixteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $53.92.
Shares of ORCL stock traded up $0.10 during mid-day trading on Thursday, reaching $51.73. The company’s stock had a trading volume of 1,667,248 shares, compared to its average volume of 21,069,980. Oracle Co. has a 1-year low of $42.57 and a 1-year high of $53.48. The stock has a market cap of $214.10 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.73 and a beta of 1.16. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.43 and a current ratio of 3.43.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) 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 analysts’ expectations of $9.26 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue was up .8% on a year-over-year basis. sell-side analysts predict that Oracle Co. will post 3.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th 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 1.47%. The ex-dividend date is Monday, October 15th. Oracle’s dividend payout ratio (DPR) is currently 26.95%.
Oracle announced that its Board of Directors has initiated a share repurchase program on Monday, September 17th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP Dorian Daley sold 50,000 shares of the stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $45.13, for a total transaction of $2,256,500.00. Following the completion of the sale, the executive vice president now owns 57,267 shares in the company, valued at approximately $2,584,459.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Naomi O. Seligman sold 45,000 shares of the stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $48.09, for a total transaction of $2,164,050.00. Following the sale, the director now owns 27,969 shares of the company’s stock, valued at approximately $1,345,029.21. The disclosure for this sale can be found here. Insiders have sold a total of 234,196 shares of company stock valued at $11,492,290 in the last quarter. 29.00% of the stock is currently owned by corporate insiders.
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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