ING Groep NV bought a new position in Oracle Co. (NYSE:ORCL) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 68,760 shares of the enterprise software provider’s stock, valued at approximately $3,146,000.
A number of other hedge funds have also added to or reduced their stakes in ORCL. First Eagle Investment Management LLC grew its position in shares of Oracle by 0.3% during the 1st quarter. First Eagle Investment Management LLC now owns 40,847,782 shares of the enterprise software provider’s stock worth $1,868,786,000 after buying an additional 109,107 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Oracle by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 31,379,477 shares of the enterprise software provider’s stock worth $1,480,412,000 after buying an additional 1,141,974 shares in the last quarter. Magellan Asset Management Ltd grew its position in shares of Oracle by 5.6% during the 4th quarter. Magellan Asset Management Ltd now owns 27,762,703 shares of the enterprise software provider’s stock worth $1,312,621,000 after buying an additional 1,472,819 shares in the last quarter. Boston Partners grew its position in shares of Oracle by 0.7% during the 1st quarter. Boston Partners now owns 24,538,967 shares of the enterprise software provider’s stock worth $1,122,658,000 after buying an additional 158,593 shares in the last quarter. Finally, Vulcan Value Partners LLC boosted its position in Oracle by 5.4% during the fourth quarter. Vulcan Value Partners LLC now owns 23,002,309 shares of the enterprise software provider’s stock valued at $1,087,549,000 after purchasing an additional 1,175,848 shares in the last quarter. Institutional investors and hedge funds own 57.79% of the company’s stock.
Shares of Oracle opened at $46.32 on Friday, Marketbeat.com reports. Oracle Co. has a 52-week low of $43.74 and a 52-week high of $53.48. The stock has a market capitalization of $191.75 billion, a PE ratio of 16.91, a PEG ratio of 1.71 and a beta of 1.15. The company has a debt-to-equity ratio of 1.16, a current ratio of 4.33 and a quick ratio of 4.30.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.11. Oracle had a return on equity of 21.77% and a net margin of 9.25%. The firm had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same period last year, the business posted $0.69 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. equities analysts predict that Oracle Co. will post 2.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Monday, April 16th. Oracle’s payout ratio is 30.52%.
Oracle declared that its Board of Directors has authorized a stock repurchase plan on Friday, February 2nd that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts recently weighed in on ORCL shares. Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Oracle in a research report on Tuesday, March 20th. Credit Suisse Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Oracle in a research report on Sunday, February 18th. Morgan Stanley reaffirmed a “buy” rating on shares of Oracle in a research report on Sunday, March 18th. JPMorgan Chase reaffirmed a “buy” rating and set a $55.00 price objective on shares of Oracle in a research report on Tuesday, March 20th. Finally, Cleveland Research downgraded Oracle from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 20th. Seventeen investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $56.30.
In related news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $52.19, for a total transaction of $195,712.50. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at $945,943.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dorian Daley sold 125,000 shares of Oracle stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $45.95, for a total value of $5,743,750.00. Following the transaction, the executive vice president now owns 161,954 shares of the company’s stock, valued at $7,441,786.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,557,015 shares of company stock valued at $117,480,315. Company insiders own 29.00% of the company’s stock.
Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure technologies for information technology (IT) environments worldwide. It 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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