Argent Trust Co grew its stake in Oracle Co. (NYSE:ORCL) by 126.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,673 shares of the enterprise software provider’s stock after acquiring an additional 50,098 shares during the period. Argent Trust Co’s holdings in Oracle were worth $3,951,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Rainier Group Investment Advisory LLC purchased a new stake in shares of Oracle in the 1st quarter worth approximately $106,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Oracle in the 2nd quarter worth approximately $126,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Oracle in the 1st quarter worth approximately $130,000. Clearwater Capital Advisors LLC purchased a new stake in shares of Oracle in the 1st quarter worth approximately $134,000. Finally, Omnia Family Wealth LLC lifted its position in shares of Oracle by 439.6% in the 1st quarter. Omnia Family Wealth LLC now owns 3,076 shares of the enterprise software provider’s stock worth $141,000 after purchasing an additional 2,506 shares during the period. Institutional investors and hedge funds own 53.43% of the company’s stock.
ORCL has been the subject of several research reports. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Barclays increased their target price on shares of Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Citigroup decreased their target price on shares of Oracle from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Tuesday, September 18th. Credit Suisse Group set a $60.00 target price on shares of Oracle and gave the company a “buy” rating in a research report on Monday, June 18th. Finally, ValuEngine raised shares of Oracle from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Sixteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Oracle currently has an average rating of “Buy” and a consensus price target of $53.92.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share. As a group, equities analysts anticipate that Oracle Co. will post 3.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, October 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.60%. Oracle’s dividend payout ratio is currently 26.95%.
Oracle announced that its board has approved a stock buyback plan on Monday, September 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to buy up to 5.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, Director Naomi O. Seligman sold 45,000 shares of the stock in a transaction on Monday, July 16th. The shares were sold at an average price of $48.09, for a total value of $2,164,050.00. Following the sale, the director now owns 27,969 shares in the company, valued at $1,345,029.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dorian Daley sold 131,696 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the completion of the sale, the executive vice president now owns 109,615 shares in the company, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,196 shares of company stock valued at $9,235,790. Corporate insiders own 32.00% of the company’s stock.
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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