Cornerstone Investment Partners LLC cut its stake in Oracle Co. (NYSE:ORCL) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,216,533 shares of the enterprise software provider’s stock after selling 165,363 shares during the period. Oracle comprises about 2.7% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 21st largest position. Cornerstone Investment Partners LLC’s holdings in Oracle were worth $54,926,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. New England Research & Management Inc. bought a new position in Oracle during the 4th quarter worth about $519,000. Welch Group LLC grew its holdings in Oracle by 23.8% during the 4th quarter. Welch Group LLC now owns 6,537 shares of the enterprise software provider’s stock worth $295,000 after acquiring an additional 1,255 shares in the last quarter. Arlington Partners LLC grew its holdings in Oracle by 1.5% during the 4th quarter. Arlington Partners LLC now owns 42,505 shares of the enterprise software provider’s stock worth $1,919,000 after acquiring an additional 625 shares in the last quarter. Highwater Wealth Management LLC bought a new position in Oracle during the 4th quarter worth about $151,000. Finally, Cumberland Advisors Inc. bought a new position in Oracle during the 4th quarter worth about $279,000. Hedge funds and other institutional investors own 50.97% of the company’s stock.
In other Oracle news, EVP Dorian Daley sold 6,302 shares of the firm’s stock in a transaction that occurred on Monday, December 24th. The shares were sold at an average price of $43.24, for a total transaction of $272,498.48. Following the completion of the transaction, the executive vice president now directly owns 77,919 shares of the company’s stock, valued at approximately $3,369,217.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $50.01, for a total transaction of $187,537.50. Following the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,398,729.69. The disclosure for this sale can be found here. Insiders sold a total of 42,552 shares of company stock valued at $1,936,336 over the last ninety days. 32.00% of the stock is currently owned by insiders.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, December 17th. The enterprise software provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.10. The firm had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.52 billion. Oracle had a net margin of 10.01% and a return on equity of 29.93%. Oracle’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.70 EPS. As a group, research analysts anticipate that Oracle Co. will post 3.07 earnings per share for the current fiscal year.
Oracle declared that its board has initiated a share repurchase program on Monday, September 17th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Wednesday, January 16th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, January 15th. Oracle’s payout ratio is currently 26.95%.
ORCL has been the topic of several recent research reports. Nomura set a $58.00 target price on shares of Oracle and gave the stock a “buy” rating in a report on Tuesday, September 18th. Bank of America increased their target price on shares of Oracle from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, September 18th. Rosenblatt Securities reiterated a “hold” rating and set a $51.00 target price on shares of Oracle in a report on Tuesday, October 30th. Standpoint Research upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $42.69 target price on the stock in a report on Wednesday, December 26th. Finally, Wells Fargo & Co lowered their price target on shares of Oracle from $62.50 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.48.
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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