Oracle Co. (ORCL) Shares Bought by Migdal Insurance & Financial Holdings Ltd.
Migdal Insurance & Financial Holdings Ltd. raised its stake in Oracle Co. (NYSE:ORCL) by 22.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 247,685 shares of the enterprise software provider’s stock after buying an additional 45,840 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Oracle were worth $12,771,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of ORCL. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Oracle in the second quarter valued at approximately $218,896,000. Thompson Siegel & Walmsley LLC boosted its position in Oracle by 2.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 304,726 shares of the enterprise software provider’s stock worth $13,426,000 after acquiring an additional 6,366 shares during the last quarter. Sterling Capital Management LLC boosted its position in Oracle by 76.8% during the second quarter. Sterling Capital Management LLC now owns 482,931 shares of the enterprise software provider’s stock worth $21,278,000 after acquiring an additional 209,853 shares during the last quarter. Pitcairn Co. boosted its position in Oracle by 13.7% during the second quarter. Pitcairn Co. now owns 32,418 shares of the enterprise software provider’s stock worth $1,428,000 after acquiring an additional 3,898 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in Oracle by 16.8% during the second quarter. 180 Wealth Advisors LLC now owns 23,323 shares of the enterprise software provider’s stock worth $1,028,000 after acquiring an additional 3,358 shares during the last quarter. 50.95% of the stock is owned by institutional investors.
ORCL has been the topic of a number of analyst reports. UBS Group raised their target price on shares of Oracle from $48.00 to $51.00 and gave the stock a “positive” rating in a research report on Thursday, August 9th. Societe Generale set a $50.00 price target on shares of Oracle and gave the company a “neutral” rating in a report on Tuesday, August 14th. Zacks Investment Research downgraded shares of Oracle from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Barclays raised their target price on shares of Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Finally, KeyCorp reissued a “hold” rating on shares of Oracle in a research note on Wednesday, September 12th. Seventeen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $53.71.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The firm had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.26 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts expect that Oracle Co. will post 3.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.53%. The ex-dividend date was Monday, October 15th. Oracle’s dividend payout ratio (DPR) is 26.95%.
Oracle declared that its Board of Directors has authorized a stock buyback program on Monday, September 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Oracle news, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the completion of the transaction, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $185,325.00. Following the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,382,227.98. The disclosure for this sale can be found here. Insiders have sold a total of 142,946 shares of company stock worth $7,257,365 in the last ninety days. 32.00% of the stock is currently owned by insiders.
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Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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