Oracle Co. (NYSE:ORCL) Shares Purchased by Mechanics Bank Trust Department

Mechanics Bank Trust Department increased its holdings in shares of Oracle Co. (NYSE:ORCL) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,343 shares of the enterprise software provider’s stock after purchasing an additional 4,815 shares during the period. Oracle accounts for 1.3% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 21st largest holding. Mechanics Bank Trust Department’s holdings in Oracle were worth $6,402,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Associated Banc Corp lifted its stake in shares of Oracle by 8.7% in the 2nd quarter. Associated Banc Corp now owns 18,697 shares of the enterprise software provider’s stock worth $1,065,000 after acquiring an additional 1,502 shares during the period. BSW Wealth Partners acquired a new stake in shares of Oracle in the 2nd quarter worth $297,000. Coastal Investment Advisors Inc. lifted its stake in shares of Oracle by 22.8% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,575 shares of the enterprise software provider’s stock worth $148,000 after acquiring an additional 478 shares during the period. Brightworth lifted its stake in shares of Oracle by 6.0% in the 2nd quarter. Brightworth now owns 4,979 shares of the enterprise software provider’s stock worth $284,000 after acquiring an additional 284 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Oracle by 3.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 55,677 shares of the enterprise software provider’s stock worth $3,172,000 after acquiring an additional 2,091 shares during the period. Hedge funds and other institutional investors own 53.80% of the company’s stock.

Several analysts have recently commented on the stock. UBS Group set a $57.00 target price on shares of Oracle and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Stifel Nicolaus reiterated a “hold” rating on shares of Oracle in a research note on Thursday, September 12th. Jefferies Financial Group cut shares of Oracle from a “buy” rating to a “hold” rating and reduced their price objective for the company from $66.00 to $60.00 in a research note on Monday, October 7th. Barclays reduced their price objective on shares of Oracle from $59.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. Finally, Royal Bank of Canada set a $57.00 price objective on shares of Oracle and gave the company a “neutral” rating in a research note on Thursday, September 12th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have given a buy rating to the stock. Oracle currently has a consensus rating of “Hold” and a consensus price target of $56.38.

In other Oracle news, Director Hector Garcia-Molina sold 4,643 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $56.59, for a total transaction of $262,747.37. Following the completion of the transaction, the director now directly owns 38,562 shares in the company, valued at approximately $2,182,223.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark V. Hurd sold 787,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $51.80, for a total transaction of $40,792,500.00. Following the transaction, the chief executive officer now owns 1,038,755 shares of the company’s stock, valued at $53,807,509. The disclosure for this sale can be found here. Insiders have sold a total of 849,786 shares of company stock valued at $44,213,156 over the last 90 days. 36.60% of the stock is currently owned by insiders.

NYSE:ORCL opened at $54.55 on Friday. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 2.67. The firm has a 50-day moving average price of $54.07 and a two-hundred day moving average price of $54.74. Oracle Co. has a twelve month low of $42.40 and a twelve month high of $60.50. The company has a market capitalization of $180.74 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16.

Oracle (NYSE:ORCL) last posted its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The firm had revenue of $9.22 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the firm posted $0.71 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts predict that Oracle Co. will post 3.47 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.96 annualized dividend and a yield of 1.76%. Oracle’s dividend payout ratio (DPR) is currently 30.38%.

Oracle announced that its Board of Directors has approved a share repurchase program on Wednesday, September 11th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase up to 8.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Oracle 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.

Featured Article: What moving averages are used to define a golden cross?

Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Co. (NYSE:ORCL).

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.