PineBridge Investments L.P. increased its stake in shares of Oracle Corp. (NYSE:ORCL) by 318.2% during the second quarter, Holdings Channel reports. The firm owned 11,617 shares of the enterprise software provider’s stock after buying an additional 8,839 shares during the period. PineBridge Investments L.P.’s holdings in Oracle Corp. were worth $475,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. BLB&B Advisors LLC boosted its stake in Oracle Corp. by 0.3% in the first quarter. BLB&B Advisors LLC now owns 9,711 shares of the enterprise software provider’s stock worth $397,000 after buying an additional 28 shares during the last quarter. Point View Wealth Management Inc. boosted its stake in Oracle Corp. by 0.5% in the second quarter. Point View Wealth Management Inc. now owns 6,959 shares of the enterprise software provider’s stock worth $285,000 after buying an additional 37 shares during the last quarter. Enterprise Financial Services Corp boosted its stake in Oracle Corp. by 0.8% in the second quarter. Enterprise Financial Services Corp now owns 7,443 shares of the enterprise software provider’s stock worth $305,000 after buying an additional 62 shares during the last quarter. Bollard Group LLC boosted its stake in Oracle Corp. by 0.4% in the second quarter. Bollard Group LLC now owns 18,731 shares of the enterprise software provider’s stock worth $767,000 after buying an additional 69 shares during the last quarter. Finally, Lourd Capital LLC boosted its stake in Oracle Corp. by 1.2% in the second quarter. Lourd Capital LLC now owns 7,854 shares of the enterprise software provider’s stock worth $321,000 after buying an additional 92 shares during the last quarter. 58.24% of the stock is currently owned by institutional investors and hedge funds.
Oracle Corp. (NYSE:ORCL) opened at 39.115 on Monday. Oracle Corp. has a 12-month low of $33.13 and a 12-month high of $42.00. The company’s 50-day moving average is $40.48 and its 200 day moving average is $40.37. The stock has a market capitalization of $160.59 billion, a PE ratio of 18.582 and a beta of 1.23.
Oracle Corp. (NYSE:ORCL) last released its earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ 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 business’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, analysts predict that Oracle Corp. will post $2.63 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, October 7th. Oracle Corp.’s payout ratio is currently 28.57%.
A number of equities analysts have weighed in on the company. RBC Capital Markets reiterated an “outperform” rating and set a $43.00 price objective (up previously from $42.00) on shares of Oracle Corp. in a research note on Saturday. Royal Bank Of Canada lifted their price objective on Oracle Corp. from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday. Vetr lowered Oracle Corp. from a “strong-buy” rating to a “buy” rating and set a $42.91 price objective for the company. in a research note on Tuesday, September 27th. Deutsche Bank AG reiterated a “neutral” rating on shares of Oracle Corp. in a research note on Tuesday, September 27th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $47.00 price objective on shares of Oracle Corp. in a research note on Monday, September 26th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have given a buy rating to the stock. Oracle Corp. currently has a consensus rating of “Buy” and a consensus price target of $44.76.
In other news, EVP Dorian Daley sold 16,065 shares of Oracle Corp. stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $39.61, for a total value of $636,334.65. Following the completion of the transaction, the executive vice president now directly owns 25,000 shares of the company’s stock, valued at approximately $990,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corp. stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $41.78, for a total transaction of $156,675.00. Following the completion of the transaction, the director now directly owns 8,281 shares of the company’s stock, valued at $345,980.18. The disclosure for this sale can be found here. 29.00% of the stock is currently owned by insiders.
About Oracle Corp.
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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