River Road Asset Management LLC lowered its stake in Oracle Co. (NYSE:ORCL) by 12.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,253 shares of the enterprise software provider’s stock after selling 38,443 shares during the quarter. River Road Asset Management LLC’s holdings in Oracle were worth $21,815,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Baldrige Asset Management LLC bought a new stake in shares of Oracle in the 2nd quarter valued at $28,000. Cowen Prime Advisors LLC bought a new stake in shares of Oracle in the 2nd quarter valued at $31,000. Harbour Investments Inc. bought a new stake in shares of Oracle in the 1st quarter valued at $34,000. tru Independence LLC bought a new stake in shares of Oracle in the 2nd quarter valued at $37,000. Finally, McCarthy Asset Management Inc. increased its stake in shares of Oracle by 214.3% in the 2nd quarter. McCarthy Asset Management Inc. now owns 484 shares of the enterprise software provider’s stock valued at $38,000 after acquiring an additional 330 shares in the last quarter. Institutional investors own 44.47% of the company’s stock.
In related news, EVP Dorian Daley sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, June 18th. The shares were sold at an average price of $76.38, for a total value of $9,547,500.00. Following the transaction, the executive vice president now directly owns 125,000 shares in the company, valued at $9,547,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Naomi O. Seligman sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $87.88, for a total transaction of $3,075,800.00. Following the transaction, the director now owns 71,724 shares in the company, valued at $6,303,105.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 385,000 shares of company stock worth $30,231,050. Company insiders own 39.10% of the company’s stock.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Sunday, September 12th. The enterprise software provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.06. Oracle had a return on equity of 146.83% and a net margin of 33.96%. The firm had revenue of $9.73 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Analysts expect that Oracle Co. will post 4.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 26th. Stockholders of record on Tuesday, October 12th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, October 8th. Oracle’s dividend payout ratio is presently 30.77%.
A number of brokerages have commented on ORCL. Morgan Stanley boosted their price target on shares of Oracle from $73.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 16th. BMO Capital Markets boosted their price target on shares of Oracle from $88.00 to $100.00 and gave the company a “market perform” rating in a research note on Tuesday. They noted that the move was a valuation call. boosted their price target on shares of Oracle from $69.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, June 16th. DZ Bank lowered shares of Oracle from a “hold” rating to a “sell” rating and set a $82.00 price target for the company. in a research note on Tuesday, August 10th. Finally, Societe Generale upped their target price on shares of Oracle from $83.00 to $88.00 and gave the stock a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.38.
Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.
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