Good Life Advisors LLC bought a new position in Oracle Corporation (NYSE:ORCL) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 6,589 shares of the enterprise software provider’s stock, valued at approximately $292,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in shares of Oracle Corporation by 2.9% during the first quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock valued at $2,397,824,000 after purchasing an additional 1,521,879 shares in the last quarter. Harris Associates L P grew its position in shares of Oracle Corporation by 0.4% in the 1st quarter. Harris Associates L P now owns 41,561,715 shares of the enterprise software provider’s stock worth $1,854,068,000 after buying an additional 156,122 shares during the period. First Eagle Investment Management LLC lifted its position in Oracle Corporation by 3.7% during the 1st quarter. First Eagle Investment Management LLC now owns 41,235,175 shares of the enterprise software provider’s stock valued at $1,839,501,000 after acquiring an additional 1,467,144 shares during the period. Boston Partners boosted its stake in Oracle Corporation by 20.1% during the first quarter. Boston Partners now owns 18,234,179 shares of the enterprise software provider’s stock worth $813,427,000 after acquiring an additional 3,054,765 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Oracle Corporation by 6.2% in the first quarter. Russell Investments Group Ltd. now owns 13,008,544 shares of the enterprise software provider’s stock worth $580,371,000 after purchasing an additional 764,803 shares during the period. 58.64% of the stock is owned by institutional investors.
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A number of brokerages have recently issued reports on ORCL. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price target on shares of Oracle Corporation in a report on Monday, September 11th. Vetr downgraded shares of Oracle Corporation from a “sell” rating to a “strong sell” rating and set a $46.58 target price for the company. in a research report on Tuesday, September 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Oracle Corporation in a report on Tuesday, June 13th. BTIG Research reissued a “buy” rating and issued a $58.00 target price on shares of Oracle Corporation in a research report on Tuesday. Finally, Moffett Nathanson assumed coverage on shares of Oracle Corporation in a research report on Wednesday, September 6th. They set a “buy” rating and a $65.00 price target for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $53.33.
In other news, EVP W Corey West sold 150,000 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $51.39, for a total value of $7,708,500.00. Following the completion of the sale, the executive vice president now owns 177,988 shares of the company’s stock, valued at $9,146,803.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $50.30, for a total value of $188,625.00. Following the completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $911,687.50. The disclosure for this sale can be found here. Insiders sold 1,712,500 shares of company stock valued at $86,140,450 in the last ninety days. Company insiders own 29.00% of the company’s stock.
Shares of Oracle Corporation (NYSE ORCL) opened at 48.16 on Friday. The firm’s 50-day moving average price is $49.85 and its 200 day moving average price is $47.11. The firm has a market capitalization of $199.22 billion, a P/E ratio of 21.79 and a beta of 1.05. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $53.14.
Oracle Corporation (NYSE:ORCL) last posted its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The firm had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts anticipate that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, October 10th. Oracle Corporation’s dividend payout ratio (DPR) is presently 33.19%.
Oracle Corporation Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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