Trust Co. of Toledo NA OH lifted its position in Oracle Co. (NYSE:ORCL) by 14.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,633 shares of the enterprise software provider’s stock after acquiring an additional 12,590 shares during the period. Oracle accounts for approximately 1.2% of Trust Co. of Toledo NA OH’s investment portfolio, making the stock its 17th biggest holding. Trust Co. of Toledo NA OH’s holdings in Oracle were worth $6,921,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORCL. Norges Bank acquired a new position in shares of Oracle in the 4th quarter valued at $1,107,842,000. Nuveen Asset Management LLC boosted its holdings in Oracle by 41.6% in the fourth quarter. Nuveen Asset Management LLC now owns 11,363,258 shares of the enterprise software provider’s stock valued at $735,090,000 after purchasing an additional 3,340,696 shares during the last quarter. Swedbank purchased a new stake in Oracle in the fourth quarter valued at $108,960,000. Clearbridge Investments LLC boosted its holdings in Oracle by 25.4% in the fourth quarter. Clearbridge Investments LLC now owns 7,115,625 shares of the enterprise software provider’s stock valued at $460,310,000 after purchasing an additional 1,443,004 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in Oracle by 24,589.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 1,125,594 shares of the enterprise software provider’s stock valued at $72,815,000 after purchasing an additional 1,121,035 shares during the last quarter. 47.54% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on ORCL shares. Cowen upped their price target on shares of Oracle from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, March 8th. Credit Suisse Group raised their target price on Oracle from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. Barclays upgraded Oracle from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $66.00 to $80.00 in a research report on Thursday, March 11th. JPMorgan Chase & Co. restated a “buy” rating and set a $73.00 target price on shares of Oracle in a research report on Thursday, March 11th. Finally, Evercore ISI initiated coverage on Oracle in a research report on Monday, March 22nd. They set an “in-line” rating and a $66.00 target price on the stock. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the stock. Oracle presently has a consensus rating of “Hold” and a consensus price target of $70.04.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Tuesday, March 9th. The enterprise software provider reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.05. The firm had revenue of $10.09 billion for the quarter, compared to analyst estimates of $10.07 billion. Oracle had a net margin of 26.34% and a return on equity of 101.26%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 EPS. As a group, equities research analysts expect that Oracle Co. will post 3.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 22nd. Stockholders of record on Thursday, April 8th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Wednesday, April 7th. This is a positive change from Oracle’s previous quarterly dividend of $0.24. Oracle’s payout ratio is presently 27.75%.
In other Oracle news, Vice Chairman Jeffrey Henley sold 400,000 shares of the business’s stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $70.03, for a total value of $28,012,000.00. Following the sale, the insider now owns 400,000 shares of the company’s stock, valued at $28,012,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Safra Catz sold 1,013,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $66.42, for a total value of $67,283,460.00. Following the completion of the sale, the chief executive officer now directly owns 1,778,592 shares in the company, valued at approximately $118,134,080.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,763,000 shares of company stock worth $251,378,960. Corporate insiders own 39.10% of the company’s stock.
Oracle Company Profile
Oracle Corporation provides products and services that address enterprise information technology environments worldwide. The company's cloud and license business engages in the sale, marketing, and delivery of its applications and infrastructure technologies through cloud and on-premise deployment models, including cloud services and license support; and cloud license and on-premise license.
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