Highbridge Capital Management LLC Acquires 362,975 Shares of Oracle Co. (ORCL)
Highbridge Capital Management LLC lifted its holdings in shares of Oracle Co. (NYSE:ORCL) by 1,289.0% during the 3rd quarter, Holdings Channel reports. The firm owned 391,135 shares of the enterprise software provider’s stock after buying an additional 362,975 shares during the quarter. Highbridge Capital Management LLC’s holdings in Oracle were worth $18,912,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Oracle by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after purchasing an additional 5,270,359 shares during the last quarter. BlackRock Inc. grew its holdings in Oracle by 2.5% in the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock worth $9,716,707,000 after acquiring an additional 4,678,977 shares during the last quarter. Harris Associates L P grew its holdings in Oracle by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after acquiring an additional 7,427,501 shares during the last quarter. Northern Trust Corp grew its holdings in Oracle by 4.6% in the 2nd quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock worth $2,110,799,000 after acquiring an additional 1,835,835 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in Oracle by 1.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 41,717,395 shares of the enterprise software provider’s stock worth $2,091,710,000 after acquiring an additional 482,220 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors.
ORCL has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating on shares of Oracle in a report on Sunday, October 22nd. BidaskClub raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Vetr lowered shares of Oracle from a “strong-buy” rating to a “buy” rating and set a $55.49 price target on the stock. in a report on Monday, November 6th. Zacks Investment Research raised shares of Oracle from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, November 15th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $62.00 price target on shares of Oracle in a report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirty have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $55.39.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The company had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the company posted $0.61 EPS. Oracle’s revenue was up 6.2% on a year-over-year basis. equities analysts anticipate that Oracle Co. will post 2.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a yield of 1.59%. Oracle’s dividend payout ratio (DPR) is currently 32.62%.
Oracle announced that its board has authorized a share repurchase plan on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $52.00, for a total transaction of $5,200,000.00. Following the completion of the sale, the executive vice president now directly owns 37,576 shares in the company, valued at approximately $1,953,952. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total transaction of $183,112.50. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at $885,043.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,956,250 shares of company stock valued at $98,313,363. 29.00% of the stock is currently owned by corporate insiders.
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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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