Citizens Financial Group Inc. RI decreased its holdings in Oracle Co. (NYSE:ORCL) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,629 shares of the enterprise software provider’s stock after selling 2,022 shares during the period. Citizens Financial Group Inc. RI’s holdings in Oracle were worth $1,722,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Engineers Gate Manager LP bought a new position in shares of Oracle during the 3rd quarter worth $2,561,000. University of Notre Dame DU Lac boosted its position in Oracle by 3.6% during the third quarter. University of Notre Dame DU Lac now owns 97,388 shares of the enterprise software provider’s stock valued at $4,709,000 after purchasing an additional 3,363 shares in the last quarter. Synovus Financial Corp boosted its position in Oracle by 6.0% during the third quarter. Synovus Financial Corp now owns 179,389 shares of the enterprise software provider’s stock valued at $8,680,000 after purchasing an additional 10,128 shares in the last quarter. Grisanti Capital Management LLC boosted its position in Oracle by 57.6% during the third quarter. Grisanti Capital Management LLC now owns 205,210 shares of the enterprise software provider’s stock valued at $9,922,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Polen Capital Management LLC boosted its position in Oracle by 21.7% during the third quarter. Polen Capital Management LLC now owns 15,357,706 shares of the enterprise software provider’s stock valued at $742,545,000 after purchasing an additional 2,737,445 shares in the last quarter. Institutional investors and hedge funds own 57.77% of the company’s stock.
Shares of Oracle Co. (ORCL) traded up $0.46 during mid-day trading on Monday, reaching $48.19. The company had a trading volume of 6,800,955 shares, compared to its average volume of 16,877,740. 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 Co. has a 52 week low of $40.75 and a 52 week high of $53.14. The stock has a market capitalization of $199,580.00, a PE ratio of 20.73, a P/E/G ratio of 1.82 and a beta of 1.08.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The company had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company earned $0.61 earnings per share. Oracle’s quarterly revenue was up 6.2% compared to the same quarter last year. research analysts anticipate that Oracle Co. will post 2.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.58%. The ex-dividend date was Tuesday, January 9th. Oracle’s payout ratio is currently 32.62%.
Oracle announced that its Board of Directors has initiated a share buyback program on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts recently weighed in on ORCL shares. Canaccord Genuity dropped their price objective on Oracle from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, December 15th. Wedbush reiterated a “buy” rating and issued a $58.00 price target on shares of Oracle in a research note on Friday, December 15th. Vetr cut Oracle from a “buy” rating to a “hold” rating and set a $51.82 price target for the company. in a research note on Wednesday, January 17th. JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, BidaskClub upgraded Oracle from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirty have given a buy rating to the company’s stock. Oracle presently has an average rating of “Buy” and a consensus target price of $55.39.
In other news, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the sale, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $48.40, for a total value of $181,500.00. Following the completion of the sale, the director now directly owns 18,125 shares in the company, valued at $877,250. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,956,250 shares of company stock worth $98,313,363. 29.00% of the stock is owned by corporate insiders.
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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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