Cubic Asset Management LLC Has $914,000 Stake in Oracle Corporation (ORCL)
Cubic Asset Management LLC continued to hold its stake in shares of Oracle Corporation (NYSE:ORCL) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,225 shares of the enterprise software provider’s stock at the end of the second quarter. Cubic Asset Management LLC’s holdings in Oracle Corporation were worth $914,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Oracle Corporation by 1.0% during the first quarter. State Street Corp now owns 123,195,917 shares of the enterprise software provider’s stock valued at $5,495,769,000 after acquiring an additional 1,187,802 shares during the period. Bank of New York Mellon Corp increased its holdings in Oracle Corporation by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock valued at $2,397,824,000 after purchasing an additional 1,521,879 shares during the last quarter. Harris Associates L P increased its holdings in Oracle Corporation by 0.4% in the first quarter. Harris Associates L P now owns 41,561,715 shares of the enterprise software provider’s stock valued at $1,854,068,000 after purchasing an additional 156,122 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Oracle Corporation by 3.7% in the first quarter. First Eagle Investment Management LLC now owns 41,235,175 shares of the enterprise software provider’s stock valued at $1,839,501,000 after purchasing an additional 1,467,144 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in Oracle Corporation by 6,353.4% in the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after purchasing an additional 18,351,920 shares during the last quarter. 58.64% of the stock is currently owned by institutional investors and hedge funds.
Oracle Corporation (NYSE ORCL) opened at 48.04 on Wednesday. Oracle Corporation has a 1-year low of $37.62 and a 1-year high of $53.14. The firm’s 50-day moving average price is $49.85 and its 200-day moving average price is $47.11. The company has a market cap of $198.73 billion, a price-to-earnings ratio of 21.74 and a beta of 1.05. Oracle Corporation also was the recipient of unusually large options trading on Monday. Traders purchased 39,975 call options on the stock. This represents an increase of approximately 122% compared to the average volume of 18,038 call options.
Oracle Corporation (NYSE:ORCL) last posted its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $9.03 billion. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. Equities research analysts forecast that Oracle Corporation will post $2.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, October 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.58%. Oracle Corporation’s dividend payout ratio is currently 33.19%.
A number of research firms recently commented on ORCL. UBS AG reiterated a “buy” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Oracle Corporation in a report on Thursday, June 22nd. They noted that the move was a valuation call. BTIG Research reiterated a “buy” rating and issued a $58.00 price objective on shares of Oracle Corporation in a report on Tuesday. BidaskClub downgraded Oracle Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. Wedbush upgraded Oracle Corporation from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $56.00 to $44.00 in a report on Thursday, June 22nd. Finally, BMO Capital Markets upped their price objective on Oracle Corporation from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $53.33.
In other Oracle Corporation news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $50.35, for a total transaction of $188,812.50. Following the sale, the director now owns 18,125 shares in the company, valued at $912,593.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce R. Chizen sold 206,250 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $49.75, for a total value of $10,260,937.50. Following the sale, the director now owns 63,985 shares in the company, valued at approximately $3,183,253.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,817,500 shares of company stock worth $91,582,600. Company insiders own 29.00% of the company’s stock.
Oracle Corporation 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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