Ropes Wealth Advisors LLC increased its position in Oracle Co. (NYSE:ORCL) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,614 shares of the enterprise software provider’s stock after acquiring an additional 1,102 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Oracle were worth $2,620,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ORCL. Evolution Wealth Advisors LLC lifted its position in Oracle by 346.0% during the second quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock valued at $25,000 after purchasing an additional 346 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in Oracle during the third quarter valued at approximately $28,000. Winthrop Partners WNY LLC bought a new stake in Oracle during the third quarter valued at approximately $30,000. C J Advisory Inc bought a new stake in Oracle during the third quarter valued at approximately $31,000. Finally, Next Capital Management LLC bought a new stake in Oracle during the second quarter valued at approximately $36,000. Institutional investors own 53.90% of the company’s stock.
Shares of ORCL stock traded down $0.06 during trading hours on Monday, hitting $56.43. 4,982,084 shares of the company’s stock were exchanged, compared to its average volume of 9,699,096. The company has a market capitalization of $182.74 billion, a PE ratio of 17.86, a PEG ratio of 1.65 and a beta of 1.16. Oracle Co. has a 12-month low of $42.40 and a 12-month high of $60.50. The business’s 50 day simple moving average is $54.79 and its 200-day simple moving average is $54.81. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 2.67.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The firm had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Oracle Co. will post 3.47 EPS for the current year.
Oracle declared that its Board of Directors has approved a stock repurchase program on Wednesday, September 11th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Wednesday, October 9th. Oracle’s payout ratio is 30.38%.
In related news, Director Hector Garcia-Molina sold 4,643 shares of Oracle stock in a transaction on Monday, September 16th. The shares were sold at an average price of $53.14, for a total value of $246,729.02. Following the transaction, the director now directly owns 38,562 shares of the company’s stock, valued at $2,049,184.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark V. Hurd sold 787,500 shares of Oracle stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,038,755 shares in the company, valued at $53,807,509. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 849,786 shares of company stock worth $44,213,156. 36.60% of the stock is owned by insiders.
Several brokerages have issued reports on ORCL. BMO Capital Markets lifted their target price on shares of Oracle from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Friday, September 27th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “hold” rating on shares of Oracle in a research report on Thursday, September 12th. Royal Bank of Canada set a $57.00 target price on shares of Oracle and gave the company a “neutral” rating in a research report on Thursday, September 12th. ValuEngine lowered shares of Oracle from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, Cowen began coverage on shares of Oracle in a research report on Friday, August 16th. They set a “buy” rating and a $65.00 target price for the company. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. Oracle currently has a consensus rating of “Hold” and a consensus price target of $56.80.
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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