Madison Asset Management LLC grew its position in Oracle Co. (NYSE:ORCL) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,093 shares of the enterprise software provider’s stock after purchasing an additional 8,999 shares during the quarter. Madison Asset Management LLC’s holdings in Oracle were worth $18,915,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Marathon Asset Mgmt Ltd acquired a new stake in shares of Oracle in the third quarter worth $331,932,000. Putnam Investments LLC grew its stake in shares of Oracle by 375.9% in the second quarter. Putnam Investments LLC now owns 4,436,858 shares of the enterprise software provider’s stock worth $345,365,000 after acquiring an additional 3,504,629 shares during the last quarter. Amundi acquired a new stake in shares of Oracle in the second quarter worth $271,849,000. Liberty Wealth Management LLC grew its stake in shares of Oracle by 17,204.4% in the second quarter. Liberty Wealth Management LLC now owns 1,745,320 shares of the enterprise software provider’s stock worth $22,422,000 after acquiring an additional 1,735,234 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Oracle by 12.1% in the second quarter. Morgan Stanley now owns 12,477,054 shares of the enterprise software provider’s stock worth $971,213,000 after acquiring an additional 1,342,602 shares during the last quarter. 42.88% of the stock is currently owned by institutional investors.
In other Oracle news, Director Naomi O. Seligman sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 27th. The stock was sold at an average price of $89.27, for a total transaction of $2,678,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles W. Moorman acquired 15,000 shares of the company’s stock in a transaction dated Thursday, January 20th. The shares were bought at an average price of $83.76 per share, for a total transaction of $1,256,400.00. The disclosure for this purchase can be found here. 43.40% of the stock is currently owned by insiders.
Oracle stock opened at $82.50 on Thursday. The firm has a market capitalization of $220.31 billion, a P/E ratio of 23.91, a PEG ratio of 2.47 and a beta of 0.80. Oracle Co. has a 1 year low of $61.08 and a 1 year high of $106.34. The business has a 50-day moving average of $88.87 and a 200-day moving average of $90.51. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 12.77.
Oracle (NYSE:ORCL) last posted its earnings results on Thursday, December 9th. The enterprise software provider reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.10. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.21 billion. Oracle had a return on equity of 1,087.71% and a net margin of 24.79%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 EPS. Research analysts anticipate that Oracle Co. will post 4.07 EPS for the current fiscal year.
Oracle announced that its board has authorized a share repurchase plan on Thursday, December 9th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 19th. Investors of record on Friday, January 7th were given a $0.32 dividend. The ex-dividend date was Thursday, January 6th. This represents a $1.28 annualized dividend and a dividend yield of 1.55%. Oracle’s dividend payout ratio is presently 37.10%.
A number of equities research analysts have weighed in on the stock. Jefferies Financial Group set a $95.00 price target on shares of Oracle in a research note on Monday, December 20th. Cowen lifted their price target on shares of Oracle from $96.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, December 10th. Oppenheimer reiterated a “hold” rating on shares of Oracle in a research note on Friday, December 10th. Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating and set a $99.00 price target on the stock in a research note on Thursday, November 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Oracle from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, January 21st. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.96.
About Oracle
Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.
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