Private Trust Co. NA decreased its stake in shares of Oracle Co. (NYSE:ORCL) by 27.4% during the third quarter, HoldingsChannel.com reports. The firm owned 23,166 shares of the enterprise software provider’s stock after selling 8,741 shares during the quarter. Private Trust Co. NA’s holdings in Oracle were worth $1,194,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. Douglas Lane & Associates LLC raised its position in Oracle by 5.2% in the third quarter. Douglas Lane & Associates LLC now owns 1,494,503 shares of the enterprise software provider’s stock worth $77,057,000 after acquiring an additional 73,206 shares during the period. One Capital Management LLC bought a new stake in shares of Oracle during the 3rd quarter valued at $217,000. ELM Advisors LLC bought a new stake in shares of Oracle during the 3rd quarter valued at $122,000. Rockland Trust Co. bought a new stake in shares of Oracle during the 3rd quarter valued at $215,000. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in shares of Oracle during the 3rd quarter valued at $4,381,000. Institutional investors own 53.43% of the company’s stock.
In related news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $47.77, for a total transaction of $179,137.50. Following the completion of the sale, the director now owns 27,969 shares in the company, valued at approximately $1,336,079.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dorian Daley sold 131,696 shares of Oracle stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the sale, the executive vice president now owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. Insiders sold a total of 184,196 shares of company stock valued at $9,235,790 in the last 90 days. Company insiders own 32.00% of the company’s stock.
ORCL has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Barclays raised their price objective on shares of Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Citigroup decreased their price objective on shares of Oracle from $51.00 to $49.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 18th. Credit Suisse Group set a $60.00 target price on shares of Oracle and gave the company a “buy” rating in a research note on Monday, June 18th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Oracle in a research note on Friday, June 15th. Sixteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $53.88.
Shares of Oracle stock traded down $0.23 during trading on Tuesday, hitting $49.13. The stock had a trading volume of 258,260 shares, compared to its average volume of 17,320,867. The firm has a market capitalization of $213.44 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 1.41. Oracle Co. has a 12 month low of $42.57 and a 12 month high of $53.48.
Oracle (NYSE:ORCL) last released its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. As a group, sell-side analysts predict that Oracle Co. will post 3.07 earnings per share for the current fiscal year.
Oracle announced that its Board of Directors has authorized a share repurchase plan on Monday, September 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, October 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.55%. Oracle’s dividend payout ratio (DPR) is presently 26.95%.
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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