International Value Advisers LLC cut its stake in Oracle Co. (NYSE:ORCL) by 6.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,342,290 shares of the enterprise software provider’s stock after selling 357,607 shares during the period. Oracle accounts for 6.9% of International Value Advisers LLC’s investment portfolio, making the stock its 3rd largest position. International Value Advisers LLC’s holdings in Oracle were worth $205,411,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake in Oracle by 2.6% in the third quarter. Advisory Services Network LLC now owns 18,936 shares of the enterprise software provider’s stock valued at $744,000 after buying an additional 481 shares during the period. Monarch Capital Management Inc. boosted its stake in Oracle by 2.6% in the third quarter. Monarch Capital Management Inc. now owns 5,522 shares of the enterprise software provider’s stock valued at $217,000 after buying an additional 138 shares during the period. Stillwater Investment Management LLC boosted its stake in Oracle by 0.9% in the third quarter. Stillwater Investment Management LLC now owns 26,163 shares of the enterprise software provider’s stock valued at $1,028,000 after buying an additional 227 shares during the period. Hefty Wealth Partners boosted its stake in Oracle by 30,004.9% in the third quarter. Hefty Wealth Partners now owns 37,029 shares of the enterprise software provider’s stock valued at $1,454,000 after buying an additional 36,906 shares during the period. Finally, Burke & Herbert Bank & Trust Co. boosted its stake in Oracle by 20.1% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 11,946 shares of the enterprise software provider’s stock valued at $469,000 after buying an additional 1,998 shares during the period. Institutional investors own 57.95% of the company’s stock.
Oracle Co. (NYSE:ORCL) opened at 45.23 on Tuesday. The firm has a market capitalization of $185.55 billion, a PE ratio of 21.59 and a beta of 1.14. The stock’s 50 day moving average is $41.91 and its 200-day moving average is $40.00. Oracle Co. has a 52-week low of $37.62 and a 52-week high of $46.99.
Oracle (NYSE:ORCL) last issued its earnings results on Wednesday, March 15th. The enterprise software provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.25 billion. Oracle had a return on equity of 21.33% and a net margin of 23.69%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Equities analysts expect that Oracle Co. will post $2.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 12th will be issued a $0.19 dividend. This is an increase from Oracle’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, April 10th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.68%. Oracle’s dividend payout ratio is currently 28.99%.
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Several brokerages recently commented on ORCL. BTIG Research reiterated a “buy” rating and issued a $47.00 price objective on shares of Oracle in a research note on Thursday, March 16th. Wunderlich reiterated a “hold” rating and issued a $46.00 price objective (up previously from $43.00) on shares of Oracle in a research note on Monday. Pacific Crest reiterated an “equal weight” rating on shares of Oracle in a research note on Monday. Vetr upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $47.09 price objective for the company in a research note on Monday. Finally, Barclays PLC raised their price objective on shares of Oracle from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, March 16th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $45.81.
In other news, CEO Mark V. Hurd sold 700,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $46.44, for a total value of $32,508,000.00. Following the transaction, the chief executive officer now owns 903,891 shares in the company, valued at approximately $41,976,698.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Naomi O. Seligman sold 45,000 shares of the company’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $38.72, for a total value of $1,742,400.00. Following the completion of the transaction, the director now owns 52,654 shares in the company, valued at approximately $2,038,762.88. The disclosure for this sale can be found here. Insiders sold a total of 1,188,000 shares of company stock worth $54,809,425 in the last quarter. 29.00% of the stock is owned by corporate insiders.
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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