PM CAPITAL Ltd increased its position in shares of Oracle Co. (NYSE:ORCL) by 21.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 487,025 shares of the enterprise software provider’s stock after purchasing an additional 85,700 shares during the quarter. Oracle accounts for 4.7% of PM CAPITAL Ltd’s investment portfolio, making the stock its 12th biggest holding. PM CAPITAL Ltd’s holdings in Oracle were worth $26,801,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. C J Advisory Inc purchased a new position in Oracle during the third quarter worth $31,000. Pennsylvania Trust Co increased its position in Oracle by 0.3% during the third quarter. Pennsylvania Trust Co now owns 143,358 shares of the enterprise software provider’s stock worth $7,889,000 after buying an additional 415 shares in the last quarter. Cerebellum GP LLC purchased a new position in Oracle during the third quarter worth $126,000. TIAA FSB increased its position in Oracle by 0.5% during the third quarter. TIAA FSB now owns 257,232 shares of the enterprise software provider’s stock worth $14,156,000 after buying an additional 1,250 shares in the last quarter. Finally, Advantage Investment Management LLC increased its position in Oracle by 18.8% during the third quarter. Advantage Investment Management LLC now owns 1,852 shares of the enterprise software provider’s stock worth $102,000 after buying an additional 293 shares in the last quarter. 53.74% of the stock is owned by hedge funds and other institutional investors.
ORCL has been the subject of several recent research reports. JPMorgan Chase & Co. set a $56.00 price target on Oracle and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Monness Crespi & Hardt reissued a “hold” rating on shares of Oracle in a research report on Tuesday, September 10th. UBS Group set a $57.00 price target on Oracle and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Co raised their price target on Oracle from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Oracle in a research report on Thursday, June 20th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $56.32.
In other Oracle news, CEO Mark V. Hurd sold 787,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $51.80, for a total transaction of $40,792,500.00. Following the transaction, the chief executive officer now owns 1,038,755 shares in the company, valued at $53,807,509. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Dorian Daley sold 50,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $55.01, for a total value of $2,750,500.00. Following the transaction, the executive vice president now owns 50,000 shares in the company, valued at approximately $2,750,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 935,143 shares of company stock worth $49,307,209. 36.60% of the stock is currently owned by insiders.
ORCL stock traded up $0.60 during trading on Thursday, reaching $55.13. 138,507 shares of the stock traded hands, compared to its average volume of 17,344,712. The business’s 50 day moving average price is $53.41 and its 200-day moving average price is $54.61. Oracle Co. has a 52-week low of $42.40 and a 52-week high of $60.50. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.25 and a quick ratio of 2.25. The firm has a market capitalization of $179.88 billion, a PE ratio of 17.51, a P/E/G ratio of 1.61 and a beta of 1.16.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.09. Oracle had a return on equity of 48.85% and a net margin of 27.71%. The firm had revenue of $9.22 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts predict that Oracle Co. will post 3.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, October 9th. Oracle’s dividend payout ratio is presently 30.38%.
Oracle declared that its Board of Directors has approved a share buyback program on Wednesday, September 11th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to buy up to 8.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors 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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