Oracle Corporation (ORCL) Position Boosted by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. raised its position in shares of Oracle Corporation (NYSE:ORCL) by 94.3% during the first quarter, Holdings Channel reports. The fund owned 137,481 shares of the enterprise software provider’s stock after buying an additional 66,714 shares during the period. Oppenheimer & Co. Inc.’s holdings in Oracle Corporation were worth $6,133,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ORCL. Swarthmore Group Inc. raised its position in Oracle Corporation by 4,112.8% in the first quarter. Swarthmore Group Inc. now owns 379,150 shares of the enterprise software provider’s stock worth $16,914,000 after buying an additional 370,150 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Oracle Corporation by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 2,673,094 shares of the enterprise software provider’s stock worth $119,243,000 after buying an additional 76,982 shares during the period. Bonness Enterprises Inc. purchased a new position in Oracle Corporation during the first quarter worth $1,816,000. Capital Investment Services of America Inc. increased its position in Oracle Corporation by 1.6% in the first quarter. Capital Investment Services of America Inc. now owns 320,844 shares of the enterprise software provider’s stock worth $14,313,000 after buying an additional 4,983 shares during the period. Finally, Integrated Investment Consultants LLC increased its position in Oracle Corporation by 8.3% in the first quarter. Integrated Investment Consultants LLC now owns 20,832 shares of the enterprise software provider’s stock worth $929,000 after buying an additional 1,592 shares during the period. 58.77% of the stock is owned by institutional investors and hedge funds.
Shares of Oracle Corporation (ORCL) traded up 0.385% on Friday, hitting $48.285. The stock had a trading volume of 4,392,546 shares. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $51.85. The firm’s 50-day moving average price is $50.16 and its 200 day moving average price is $45.34. The firm has a market cap of $199.74 billion, a P/E ratio of 21.848 and a beta of 1.06.
Oracle Corporation (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.11. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The firm had revenue of $10.94 billion during the quarter, compared to the consensus estimate of $10.45 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts anticipate that Oracle Corporation will post $2.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Wednesday, July 19th were given a dividend of $0.19 per share. The ex-dividend date was Monday, July 17th. This represents a $0.76 annualized dividend and a dividend yield of 1.58%. Oracle Corporation’s dividend payout ratio (DPR) is presently 34.55%.
A number of research analysts have weighed in on ORCL shares. Goldman Sachs Group, Inc. (The) set a $49.00 target price on Oracle Corporation and gave the stock a “buy” rating in a report on Monday, June 12th. Benchmark Co. started coverage on Oracle Corporation in a report on Thursday, April 27th. They set a “buy” rating and a $55.00 target price on the stock. Canaccord Genuity reiterated a “buy” rating and set a $49.00 target price on shares of Oracle Corporation in a report on Friday, May 26th. Jefferies Group LLC reiterated a “buy” rating and set a $52.00 target price on shares of Oracle Corporation in a report on Friday, May 19th. Finally, Zacks Investment Research upgraded Oracle Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirty have given a buy rating to the stock. Oracle Corporation has an average rating of “Buy” and a consensus target price of $50.70.
In related news, insider Thomas Kurian sold 750,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total transaction of $37,845,000.00. Following the completion of the transaction, the insider now owns 783,533 shares in the company, valued at approximately $39,537,075.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $44.57, for a total transaction of $167,137.50. Following the transaction, the director now owns 18,125 shares of the company’s stock, valued at approximately $807,831.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,817,500 shares of company stock valued at $91,547,388. Insiders own 29.00% of the company’s stock.
About Oracle Corporation
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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