Jupiter Asset Management Ltd. Has $10.33 Million Stake in Oracle Corporation (ORCL)
Jupiter Asset Management Ltd. reduced its position in Oracle Corporation (NYSE:ORCL) by 30.0% during the first quarter, Holdings Channel reports. The firm owned 231,625 shares of the enterprise software provider’s stock after selling 99,407 shares during the period. Jupiter Asset Management Ltd.’s holdings in Oracle Corporation were worth $10,333,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. WFG Advisors LP boosted its position in Oracle Corporation by 44.5% in the fourth quarter. WFG Advisors LP now owns 4,665 shares of the enterprise software provider’s stock valued at $162,000 after buying an additional 1,437 shares during the last quarter. Norges Bank bought a new position in Oracle Corporation during the fourth quarter valued at $1,090,559,000. Israel Discount Bank of New York GFN bought a new position in Oracle Corporation during the fourth quarter valued at $541,000. Lincoln Capital Corp bought a new position in Oracle Corporation during the fourth quarter valued at $1,811,000. Finally, Wealthfront Inc. boosted its position in Oracle Corporation by 2.4% in the fourth quarter. Wealthfront Inc. now owns 73,376 shares of the enterprise software provider’s stock valued at $2,821,000 after buying an additional 1,697 shares during the last quarter. 58.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Oracle Corporation (ORCL) opened at 49.64 on Tuesday. The stock has a market cap of $205.34 billion, a P/E ratio of 22.46 and a beta of 1.06. The firm’s 50-day moving average is $49.35 and its 200 day moving average is $44.95. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $51.85.
Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.11. The company had revenue of $10.94 billion for the quarter, compared to analyst estimates of $10.45 billion. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 earnings per share. Analysts forecast that Oracle Corporation will post $2.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, July 17th. This represents a $0.76 annualized dividend and a yield of 1.53%. Oracle Corporation’s dividend payout ratio is currently 34.55%.
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Several equities analysts recently weighed in on ORCL shares. Zacks Investment Research raised shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Tuesday, May 16th. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Oracle Corporation in a research note on Tuesday, July 25th. Benchmark Co. raised their target price on shares of Oracle Corporation from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, June 22nd. KeyCorp raised shares of Oracle Corporation from a “sector weight” rating to an “overweight” rating and set a $61.00 target price for the company in a research note on Wednesday, July 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $49.00 target price on shares of Oracle Corporation in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have given a buy rating to the company. Oracle Corporation has an average rating of “Buy” and a consensus target price of $50.70.
In other Oracle Corporation news, Director Bruce R. Chizen sold 206,250 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $49.75, for a total value of $10,260,937.50. Following the transaction, the director now directly owns 63,985 shares in the company, valued at $3,183,253.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $45.25, for a total transaction of $169,687.50. Following the completion of the transaction, the director now owns 8,281 shares in the company, valued at $374,715.25. The disclosure for this sale can be found here. Insiders sold 1,817,500 shares of company stock worth $91,547,388 over the last quarter. 29.00% of the stock is currently owned by insiders.
Oracle Corporation 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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