Mark V. Hurd Sells 700,000 Shares of Oracle Co. (ORCL) Stock
Oracle Co. (NYSE:ORCL) CEO Mark V. Hurd sold 700,000 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $46.44, for a total transaction of $32,508,000.00. Following the sale, the chief executive officer now directly owns 903,891 shares of the company’s stock, valued at approximately $41,976,698.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Oracle Co. (NYSE:ORCL) opened at 45.23 on Tuesday. Oracle Co. has a 1-year low of $37.62 and a 1-year high of $46.99. The firm has a 50 day moving average of $41.91 and a 200-day moving average of $40.00. The company has a market capitalization of $185.55 billion, a price-to-earnings ratio of 21.59 and a beta of 1.14.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, March 15th. The enterprise software provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.07. Oracle had a net margin of 23.69% and a return on equity of 21.33%. The company earned $9.27 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the business posted $0.64 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Oracle Co. will post $2.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Wednesday, April 12th will be issued a dividend of $0.19 per share. This is a positive change from Oracle’s previous quarterly dividend of $0.15. This represents a $0.76 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Monday, April 10th. Oracle’s dividend payout ratio is currently 28.99%.
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Large investors have recently bought and sold shares of the stock. Personal Capital Advisors Corp raised its stake in Oracle by 26.3% in the second quarter. Personal Capital Advisors Corp now owns 81,192 shares of the enterprise software provider’s stock worth $3,323,000 after buying an additional 16,884 shares in the last quarter. CI Investments Inc. raised its stake in Oracle by 141.9% in the second quarter. CI Investments Inc. now owns 1,823,124 shares of the enterprise software provider’s stock worth $74,620,000 after buying an additional 1,069,324 shares in the last quarter. Fundsmith LLP purchased a new stake in Oracle during the second quarter worth approximately $919,000. Harbour Capital Advisors LLC purchased a new stake in Oracle during the second quarter worth approximately $1,002,000. Finally, Mason Street Advisors LLC purchased a new stake in Oracle during the second quarter worth approximately $17,159,000. Institutional investors own 57.95% of the company’s stock.
A number of brokerages have recently weighed in on ORCL. Vetr raised shares of Oracle from a “hold” rating to a “buy” rating and set a $47.09 price target for the company in a report on Monday. Pacific Crest reaffirmed an “equal weight” rating on shares of Oracle in a report on Monday. Wunderlich reaffirmed a “hold” rating and set a $46.00 price target (up previously from $43.00) on shares of Oracle in a report on Monday. BTIG Research reaffirmed a “buy” rating and set a $47.00 price target on shares of Oracle in a report on Thursday, March 16th. Finally, Bank of America Corp upped their price target on shares of Oracle to $54.00 in a report on Thursday, March 16th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $45.81.
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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