Argyle Capital Management Inc. continued to hold its stake in shares of Oracle Corp. (NYSE:ORCL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,680 shares of the enterprise software provider’s stock at the end of the second quarter. Argyle Capital Management Inc.’s holdings in Oracle Corp. were worth $1,829,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Cribstone Capital Management LLC purchased a new position in Oracle Corp. during the second quarter valued at $102,000. FCM Investments TX increased its position in Oracle Corp. by 20.0% in the second quarter. FCM Investments TX now owns 3,000 shares of the enterprise software provider’s stock valued at $123,000 after buying an additional 500 shares in the last quarter. Ironwood Financial llc purchased a new position in Oracle Corp. during the first quarter valued at $147,000. Gardner Russo & Gardner LLC purchased a new position in Oracle Corp. during the first quarter valued at $205,000. Finally, Natixis purchased a new position in Oracle Corp. during the first quarter valued at $230,000. Hedge funds and other institutional investors own 58.24% of the company’s stock.
Oracle Corp. (NYSE:ORCL) traded down 1.58% during trading on Tuesday, hitting $38.01. The stock had a trading volume of 14,950,508 shares. The firm’s 50 day moving average is $40.07 and its 200 day moving average is $40.29. The firm has a market cap of $156.05 billion, a price-to-earnings ratio of 18.06 and a beta of 1.23. Oracle Corp. has a 1-year low of $33.13 and a 1-year high of $42.00.
Oracle Corp. (NYSE:ORCL) last issued its earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.03. The company earned $8.60 billion during the quarter. Oracle Corp. had a return on equity of 22.10% and a net margin of 24.16%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. On average, analysts anticipate that Oracle Corp. will post $2.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, October 7th. Oracle Corp.’s payout ratio is 28.57%.
Several research firms have weighed in on ORCL. Zacks Investment Research downgraded Oracle Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Vetr raised Oracle Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 price objective for the company in a research report on Tuesday, September 6th. DA Davidson reissued a “buy” rating and set a $52.00 price objective on shares of Oracle Corp. in a research report on Saturday, September 17th. Cowen and Company began coverage on Oracle Corp. in a research report on Thursday, June 23rd. They set an “outperform” rating and a $46.00 price objective for the company. Finally, Credit Agricole SA reissued a “sell” rating on shares of Oracle Corp. in a research report on Friday, June 17th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $44.76.
In other news, EVP John F. Fowler sold 500,000 shares of Oracle Corp. stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $41.17, for a total transaction of $20,585,000.00. Following the transaction, the executive vice president now owns 119,645 shares in the company, valued at $4,925,784.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dorian Daley sold 16,065 shares of Oracle Corp. stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $39.61, for a total value of $636,334.65. Following the transaction, the executive vice president now owns 25,000 shares in the company, valued at approximately $990,250. The disclosure for this sale can be found here. 29.00% of the stock is owned by corporate insiders.
Oracle Corp. 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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