Curbstone Financial Management Corp raised its stake in shares of Oracle Corporation (NYSE:ORCL) by 104.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,134 shares of the enterprise software provider’s stock after acquiring an additional 6,717 shares during the period. Curbstone Financial Management Corp’s holdings in Oracle were worth $635,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Perpetual Ltd grew its holdings in shares of Oracle by 1.0% in the second quarter. Perpetual Ltd now owns 604,009 shares of the enterprise software provider’s stock valued at $30,285,000 after purchasing an additional 5,860 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of Oracle in the second quarter valued at approximately $180,000. Burgundy Asset Management Ltd. grew its holdings in shares of Oracle by 1.0% in the second quarter. Burgundy Asset Management Ltd. now owns 6,086,871 shares of the enterprise software provider’s stock valued at $305,196,000 after purchasing an additional 60,828 shares in the last quarter. Intl Fcstone Inc. acquired a new position in shares of Oracle in the second quarter valued at approximately $274,000. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Oracle by 26.8% in the second quarter. Lord Abbett & CO. LLC now owns 2,161,149 shares of the enterprise software provider’s stock valued at $108,360,000 after purchasing an additional 456,231 shares in the last quarter. Institutional investors and hedge funds own 57.70% of the company’s stock.
ORCL has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Friday, August 18th. Royal Bank of Canada restated a “buy” rating and issued a $53.00 price objective on shares of Oracle in a report on Sunday, August 27th. ValuEngine upgraded shares of Oracle from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Vetr cut shares of Oracle from a “buy” rating to a “hold” rating and set a $46.58 price objective for the company. in a report on Sunday, September 3rd. Finally, Credit Suisse Group initiated coverage on shares of Oracle in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $62.00 price target for the company. Fourteen research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. Oracle has a consensus rating of “Buy” and an average price target of $55.02.
In other news, Director George H. Conrades sold 11,250 shares of Oracle stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $48.10, for a total value of $541,125.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $481,000. 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 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 have sold a total of 302,026 shares of company stock valued at $14,633,187 in the last 90 days. Insiders own 29.00% of the company’s stock.
Shares of Oracle Corporation (NYSE:ORCL) traded down $1.89 during trading hours on Friday, hitting $48.30. 75,172,521 shares of the stock traded hands, compared to its average volume of 14,205,022. The stock has a market cap of $209,467.25, a P/E ratio of 19.16, a PEG ratio of 1.91 and a beta of 1.05. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 0.86. Oracle Corporation has a twelve month low of $38.30 and a twelve month high of $53.14.
Oracle (NYSE:ORCL) last issued its quarterly earnings data 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 business had revenue of $9.63 billion during 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 20.72%. The company’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 research analysts expect that Oracle Corporation will post 2.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.57%. Oracle’s dividend payout ratio is presently 32.62%.
Oracle declared that its Board of Directors has approved a share repurchase plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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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