Van Cleef Asset Management Inc increased its stake in Oracle Corporation (NYSE:ORCL) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,215 shares of the enterprise software provider’s stock after purchasing an additional 4,637 shares during the quarter. Oracle accounts for 2.2% of Van Cleef Asset Management Inc’s portfolio, making the stock its 12th largest position. Van Cleef Asset Management Inc’s holdings in Oracle were worth $8,230,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Acrospire Investment Management LLC raised its position in shares of Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after purchasing an additional 1,800 shares during the period. Burt Wealth Advisors grew its stake in Oracle by 4.3% during the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after acquiring an additional 88 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Oracle during the second quarter valued at $129,000. ETF Managers Group LLC purchased a new position in Oracle during the second quarter valued at $133,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its stake in Oracle by 17.4% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,702 shares of the enterprise software provider’s stock valued at $135,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 57.89% of the company’s stock.
Shares of Oracle Corporation (ORCL) opened at $49.51 on Friday. The firm has a market cap of $206,630.00, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.87 and a beta of 1.05. Oracle Corporation has a 12-month low of $38.88 and a 12-month high of $53.14. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07.
Oracle (NYSE:ORCL) last released its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. Oracle’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. equities analysts expect that Oracle Corporation will post 2.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is currently 32.62%.
Oracle declared that its board has authorized a share buyback program on Thursday, December 14th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
ORCL has been the subject of several research analyst reports. UBS Group set a $55.00 target price on shares of Oracle and gave the company a “neutral” rating in a research note on Friday, December 15th. Vetr raised shares of Oracle from a “hold” rating to a “strong-buy” rating and set a $60.60 price objective for the company in a research note on Thursday, November 2nd. BidaskClub raised shares of Oracle from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. Oppenheimer reissued a “hold” rating on shares of Oracle in a research note on Friday, December 15th. Finally, Goldman Sachs Group set a $56.00 price objective on shares of Oracle and gave the stock a “buy” rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $55.28.
In related news, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the transaction, the executive vice president now directly owns 136,954 shares in the company, valued at approximately $6,517,640.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $48.70, for a total transaction of $182,625.00. The disclosure for this sale can be found here. Insiders sold a total of 111,250 shares of company stock worth $5,306,238 over the last ninety days. Insiders own 29.00% of the company’s stock.
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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