Timber Creek Capital Management LLC boosted its stake in shares of Oracle Co. (NYSE:ORCL) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 92,267 shares of the enterprise software provider’s stock after purchasing an additional 1,045 shares during the quarter. Oracle makes up approximately 2.7% of Timber Creek Capital Management LLC’s holdings, making the stock its 11th largest holding. Timber Creek Capital Management LLC’s holdings in Oracle were worth $4,362,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in ORCL. Strategy Asset Managers LLC raised its stake in Oracle by 22.3% during the 3rd quarter. Strategy Asset Managers LLC now owns 257,359 shares of the enterprise software provider’s stock valued at $12,443,000 after acquiring an additional 46,866 shares in the last quarter. BT Investment Management Ltd bought a new stake in Oracle during the 2nd quarter valued at $459,738,000. CIBC World Markets Inc. raised its stake in Oracle by 51.3% during the 2nd quarter. CIBC World Markets Inc. now owns 231,515 shares of the enterprise software provider’s stock valued at $11,608,000 after acquiring an additional 78,482 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Oracle by 7.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 170,840 shares of the enterprise software provider’s stock valued at $8,566,000 after acquiring an additional 11,244 shares in the last quarter. Finally, Polen Capital Management LLC raised its stake in Oracle by 7.3% during the 2nd quarter. Polen Capital Management LLC now owns 12,620,261 shares of the enterprise software provider’s stock valued at $632,780,000 after acquiring an additional 854,240 shares in the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the sale, the executive vice president now owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Kurian sold 1,700,000 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $50.29, for a total value of $85,493,000.00. Following the transaction, the insider now directly owns 1,522,983 shares of the company’s stock, valued at approximately $76,590,815.07. The disclosure for this sale can be found here. Insiders sold 1,956,250 shares of company stock valued at $98,316,475 in the last ninety days. Insiders own 29.00% of the company’s stock.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The company had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. equities research analysts forecast that Oracle Co. will post 2.68 EPS for the current fiscal year.
Oracle declared that its board has authorized a stock repurchase program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Several analysts have weighed in on ORCL shares. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Wednesday, November 15th. Vetr downgraded Oracle from a “strong-buy” rating to a “buy” rating and set a $51.82 price objective on the stock. in a research note on Monday, November 20th. Royal Bank of Canada set a $53.00 price objective on Oracle and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Drexel Hamilton reissued a “buy” rating and issued a $62.00 price objective on shares of Oracle in a research note on Tuesday, December 12th. Finally, Goldman Sachs Group set a $58.00 price objective on Oracle and gave the stock a “buy” rating in a research note on Friday, December 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $55.73.
Oracle 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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