City Holding Co. reduced its stake in shares of Oracle Co. (NYSE:ORCL) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,793 shares of the enterprise software provider’s stock after selling 430 shares during the period. City Holding Co.’s holdings in Oracle were worth $2,244,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Associated Banc Corp lifted its position in shares of Oracle by 8.7% in the 2nd quarter. Associated Banc Corp now owns 18,697 shares of the enterprise software provider’s stock worth $1,065,000 after buying an additional 1,502 shares during the last quarter. B. Riley Wealth Management Inc. lifted its position in shares of Oracle by 9.7% in the 1st quarter. B. Riley Wealth Management Inc. now owns 6,537 shares of the enterprise software provider’s stock worth $351,000 after buying an additional 578 shares during the last quarter. BSW Wealth Partners bought a new position in shares of Oracle in the 2nd quarter worth about $297,000. Coastal Investment Advisors Inc. lifted its position in shares of Oracle by 22.8% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,575 shares of the enterprise software provider’s stock worth $148,000 after buying an additional 478 shares during the last quarter. Finally, Brightworth lifted its position in shares of Oracle by 6.0% in the 2nd quarter. Brightworth now owns 4,979 shares of the enterprise software provider’s stock worth $284,000 after buying an additional 284 shares during the last quarter. 53.80% of the stock is owned by institutional investors.
Several analysts recently weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating on shares of Oracle in a research report on Thursday, September 12th. BMO Capital Markets lifted their price objective on shares of Oracle from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Friday, September 27th. They noted that the move was a valuation call. Cowen assumed coverage on shares of Oracle in a research report on Friday, August 16th. They issued a “buy” rating and a $65.00 price objective on the stock. Credit Suisse Group set a $62.00 price objective on shares of Oracle and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Sanford C. Bernstein set a $66.00 price objective on shares of Oracle and gave the company a “buy” rating in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have given a buy rating to the company. Oracle presently has a consensus rating of “Hold” and a consensus target price of $56.38.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The company had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the previous year, the firm earned $0.71 EPS. Oracle’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Oracle Co. will post 3.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.70%. Oracle’s dividend payout ratio (DPR) is 30.38%.
Oracle declared that its Board of Directors has initiated a stock buyback program on Wednesday, September 11th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to buy up to 8.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Oracle news, EVP Dorian Daley sold 50,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the sale, the executive vice president now directly owns 50,000 shares in the company, valued at approximately $2,750,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Renee Jo James sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $53.56, for a total transaction of $160,680.00. Following the sale, the director now owns 32,886 shares in the company, valued at $1,761,374.16. The disclosure for this sale can be found here. Insiders have sold a total of 845,143 shares of company stock worth $43,950,409 over the last 90 days. 36.60% of the stock is owned by insiders.
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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