Nicholas Hoffman & Company LLC. acquired a new stake in Oracle Co. (NYSE:ORCL) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,463 shares of the enterprise software provider’s stock, valued at approximately $216,000.
Several other large investors have also recently made changes to their positions in ORCL. Meridian Investment Counsel Inc. lifted its position in Oracle by 0.7% during the fourth quarter. Meridian Investment Counsel Inc. now owns 27,583 shares of the enterprise software provider’s stock valued at $1,461,000 after buying an additional 193 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Oracle by 2.7% during the first quarter. Exchange Traded Concepts LLC now owns 7,391 shares of the enterprise software provider’s stock valued at $357,000 after buying an additional 194 shares in the last quarter. Monte Financial Group LLC lifted its position in Oracle by 2.0% during the fourth quarter. Monte Financial Group LLC now owns 10,058 shares of the enterprise software provider’s stock valued at $533,000 after buying an additional 196 shares in the last quarter. Signet Financial Management LLC lifted its position in Oracle by 1.1% during the fourth quarter. Signet Financial Management LLC now owns 17,964 shares of the enterprise software provider’s stock valued at $952,000 after buying an additional 200 shares in the last quarter. Finally, Hartline Investment Corp lifted its position in Oracle by 3.4% during the fourth quarter. Hartline Investment Corp now owns 6,098 shares of the enterprise software provider’s stock valued at $323,000 after buying an additional 200 shares in the last quarter. 50.64% of the stock is currently owned by institutional investors.
ORCL has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of Oracle from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $51.00 to $55.00 in a research report on Friday, March 20th. Jefferies Financial Group reissued a “neutral” rating and set a $55.00 target price on shares of Oracle in a research report on Thursday, April 9th. Morgan Stanley reduced their target price on shares of Oracle from $63.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, March 16th. UBS Group reduced their target price on shares of Oracle from $57.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Finally, Wedbush reissued a “neutral” rating and set a $49.00 target price (down from $56.00) on shares of Oracle in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $53.57.
In other news, CEO Safra Catz sold 1,000,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $51.73, for a total transaction of $51,730,000.00. Following the completion of the transaction, the chief executive officer now owns 2,368,592 shares in the company, valued at $122,527,264.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles W. Moorman purchased 10,000 shares of the stock in a transaction dated Monday, March 23rd. The shares were purchased at an average price of $45.23 per share, with a total value of $452,300.00. Following the transaction, the director now directly owns 18,561 shares of the company’s stock, valued at approximately $839,514.03. The disclosure for this purchase can be found here. 36.60% of the stock is currently owned by corporate insiders.
ORCL stock traded up $0.40 during trading on Friday, hitting $52.62. 7,082,880 shares of the company’s stock traded hands, compared to its average volume of 10,488,970. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 3.31. Oracle Co. has a 52 week low of $39.71 and a 52 week high of $60.50. The stock has a fifty day moving average price of $52.51 and a two-hundred day moving average price of $52.99. The stock has a market capitalization of $164.68 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.90.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, March 12th. The enterprise software provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $9.80 billion during the quarter, compared to analyst estimates of $9.75 billion. Oracle had a net margin of 27.06% and a return on equity of 64.68%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. As a group, equities research analysts expect that Oracle Co. will post 3.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 9th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, April 8th. This represents a $0.96 annualized dividend and a dividend yield of 1.82%. Oracle’s dividend payout ratio is currently 30.38%.
Oracle announced that its board has authorized a stock repurchase program on Thursday, March 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to reacquire up to 9.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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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