Oracle Co. (ORCL) Shares Bought by Guardian Capital LP
Guardian Capital LP increased its stake in Oracle Co. (NYSE:ORCL) by 5.8% during the 3rd quarter, Holdings Channel reports. The fund owned 30,846 shares of the enterprise software provider’s stock after buying an additional 1,701 shares during the period. Guardian Capital LP’s holdings in Oracle were worth $1,491,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guardian Capital Advisors LP raised its holdings in Oracle by 1.0% in the third quarter. Guardian Capital Advisors LP now owns 150,462 shares of the enterprise software provider’s stock valued at $7,410,000 after buying an additional 1,520 shares during the period. Highlander Capital Management LLC raised its holdings in Oracle by 333.7% in the third quarter. Highlander Capital Management LLC now owns 10,787 shares of the enterprise software provider’s stock valued at $522,000 after buying an additional 8,300 shares during the period. Piedmont Investment Advisors LLC raised its holdings in Oracle by 2.9% in the third quarter. Piedmont Investment Advisors LLC now owns 851,954 shares of the enterprise software provider’s stock valued at $41,192,000 after buying an additional 24,027 shares during the period. California Public Employees Retirement System raised its holdings in Oracle by 7.0% in the third quarter. California Public Employees Retirement System now owns 7,249,066 shares of the enterprise software provider’s stock valued at $350,492,000 after buying an additional 473,219 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Oracle by 13.7% in the third quarter. Janney Montgomery Scott LLC now owns 448,589 shares of the enterprise software provider’s stock valued at $21,689,000 after buying an additional 54,115 shares during the period. 57.92% of the stock is currently owned by institutional investors and hedge funds.
ORCL has been the topic of several research reports. Zacks Investment Research lowered shares of Oracle from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. UBS Group restated a “neutral” rating and issued a $55.00 price target (down previously from $57.00) on shares of Oracle in a report on Thursday, November 9th. Vetr lowered shares of Oracle from a “strong-buy” rating to a “buy” rating and set a $51.82 price target on the stock. in a report on Monday, November 20th. BidaskClub upgraded shares of Oracle from a “buy” rating to a “strong-buy” rating in a report on Friday, October 27th. Finally, Royal Bank of Canada set a $53.00 price target on shares of Oracle and gave the company a “buy” rating in a report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirty have issued a buy rating to the company’s stock. Oracle has an average rating of “Buy” and an average price target of $55.39.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping 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 business had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the company earned $0.61 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. research analysts expect that Oracle Co. will post 2.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, January 9th. Oracle’s payout ratio is currently 32.62%.
Oracle declared that its board has approved a share repurchase program on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the transaction, the executive vice president now owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Kurian sold 1,700,000 shares of Oracle stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the transaction, the insider now directly owns 1,522,983 shares of the company’s stock, valued at approximately $76,590,815.07. The disclosure for this sale can be found here. Insiders have sold 1,956,250 shares of company stock valued at $98,313,363 in the last three months. Corporate insiders own 29.00% of the company’s stock.
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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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