Letko Brosseau & Associates Inc. lowered its stake in shares of Oracle Co. (NYSE:ORCL) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 1,357,752 shares of the enterprise software provider’s stock after selling 55,650 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Oracle were worth $77,351,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC raised its holdings in Oracle by 346.0% during the second quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock worth $25,000 after purchasing an additional 346 shares in the last quarter. Investors Research Corp acquired a new stake in Oracle during the first quarter worth approximately $30,000. Covenant Multifamily Offices LLC acquired a new stake in Oracle during the first quarter worth approximately $35,000. Clarfeld Financial Advisors LLC acquired a new stake in Oracle during the fourth quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Oracle during the second quarter worth approximately $40,000. 54.23% of the stock is currently owned by institutional investors.
In related news, Director Michael J. Boskin sold 150,000 shares of Oracle stock in a transaction on Monday, June 24th. The shares were sold at an average price of $56.65, for a total value of $8,497,500.00. Following the transaction, the director now directly owns 134,796 shares in the company, valued at approximately $7,636,193.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction on Monday, June 24th. The shares were sold at an average price of $56.92, for a total transaction of $5,692,000.00. Following the completion of the transaction, the executive vice president now owns 177,919 shares in the company, valued at $10,127,149.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,352,500 shares of company stock worth $76,708,925. 32.00% of the stock is currently owned by insiders.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. Oracle had a net margin of 28.06% and a return on equity of 40.95%. The firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $10.93 billion. During the same period last year, the firm posted $0.99 EPS. Oracle’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts expect that Oracle Co. will post 3.5 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th were given a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $0.96 dividend on an annualized basis and a yield of 1.84%. Oracle’s dividend payout ratio (DPR) is 30.38%.
A number of analysts have weighed in on ORCL shares. Jefferies Financial Group raised their price objective on shares of Oracle from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. William Blair restated a “market perform” rating on shares of Oracle in a research report on Thursday, June 20th. Wedbush restated a “neutral” rating and set a $55.00 target price (down from $55.92) on shares of Oracle in a research report on Thursday, June 20th. Goldman Sachs Group restated a “buy” rating and set a $58.00 target price on shares of Oracle in a research report on Thursday, June 20th. Finally, UBS Group restated a “neutral” rating and set a $54.00 target price on shares of Oracle in a research report on Friday, June 14th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $54.76.
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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