National Pension Service reduced its holdings in shares of Oracle Co. (NYSE:ORCL) by 16.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,805,820 shares of the enterprise software provider’s stock after selling 559,938 shares during the quarter. National Pension Service owned approximately 0.09% of Oracle worth $148,652,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of ORCL. Franklin Resources Inc. boosted its stake in shares of Oracle by 68.5% during the 4th quarter. Franklin Resources Inc. now owns 23,962,890 shares of the enterprise software provider’s stock worth $1,269,542,000 after acquiring an additional 9,739,302 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in Oracle by 21.7% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 14,698,021 shares of the enterprise software provider’s stock valued at $778,701,000 after purchasing an additional 2,624,509 shares during the period. Sound Shore Management Inc. CT bought a new stake in Oracle in the 4th quarter valued at $113,949,000. DNB Asset Management AS boosted its stake in Oracle by 45.1% in the 4th quarter. DNB Asset Management AS now owns 5,823,307 shares of the enterprise software provider’s stock valued at $308,519,000 after purchasing an additional 1,811,137 shares during the period. Finally, AJO LP boosted its stake in Oracle by 75.4% in the 4th quarter. AJO LP now owns 3,521,167 shares of the enterprise software provider’s stock valued at $186,550,000 after purchasing an additional 1,513,450 shares during the period. Institutional investors own 51.90% of the company’s stock.
In other news, Director Charles W. Moorman bought 20,000 shares of the stock in a transaction on Thursday, March 26th. The stock was acquired at an average price of $48.59 per share, with a total value of $971,800.00. Following the acquisition, the director now directly owns 38,561 shares in the company, valued at $1,873,678.99. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles W. Moorman bought 10,000 shares of the stock in a transaction on Monday, March 23rd. The stock was purchased at an average cost of $45.23 per share, with a total value of $452,300.00. Following the acquisition, the director now owns 18,561 shares in the company, valued at $839,514.03. The disclosure for this purchase can be found here. 36.60% of the stock is owned by corporate insiders.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Thursday, March 12th. The enterprise software provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Oracle had a return on equity of 64.68% and a net margin of 27.06%. The company had revenue of $9.80 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. Oracle’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that Oracle Co. will post 3.48 EPS for the current year.
Oracle declared that its Board of Directors has initiated a share repurchase program on Thursday, March 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the enterprise software provider to reacquire up to 9.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.96 dividend on an annualized basis and a yield of 1.93%. Oracle’s payout ratio is presently 30.38%.
Several analysts recently issued reports on ORCL shares. Nomura restated a “sell” rating and issued a $41.00 price target (down from $42.00) on shares of Oracle in a research note on Sunday, December 15th. Barclays restated a “neutral” rating and issued a $50.00 price target on shares of Oracle in a research note on Friday, March 13th. ValuEngine upgraded Oracle from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. BMO Capital Markets reduced their price target on Oracle from $62.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday, March 13th. Finally, Credit Suisse Group reduced their price target on Oracle from $62.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, March 13th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $52.81.
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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