Ladenburg Thalmann Financial Services Inc. decreased its stake in shares of Oracle Co. (NYSE:ORCL) by 16.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 191,220 shares of the enterprise software provider’s stock after selling 38,816 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Oracle were worth $9,950,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. First National Bank of South Miami increased its holdings in shares of Oracle by 104.6% during the fourth quarter. First National Bank of South Miami now owns 489 shares of the enterprise software provider’s stock worth $26,000 after purchasing an additional 250 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in Oracle during the fourth quarter worth approximately $26,000. Samalin Investment Counsel LLC acquired a new stake in Oracle during the fourth quarter worth approximately $27,000. Solstein Capital LLC bought a new position in Oracle during the 4th quarter worth $33,000. Finally, Wealth Alliance bought a new position in Oracle during the 4th quarter worth $64,000. Institutional investors and hedge funds own 51.90% of the company’s stock.
Shares of NYSE ORCL opened at $45.94 on Thursday. The company has a market cap of $150.87 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.41 and a beta of 1.07. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 3.31. Oracle Co. has a 12 month low of $39.71 and a 12 month high of $60.50. The stock has a 50-day moving average price of $50.60 and a two-hundred day moving average price of $53.63.
Oracle announced that its board has approved a stock repurchase program on Thursday, March 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to purchase up to 9.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, April 8th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.09%. Oracle’s payout ratio is presently 30.38%.
In other news, Director Bruce R. Chizen sold 225,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $54.64, for a total transaction of $12,294,000.00. Following the sale, the director now directly owns 135,813 shares in the company, valued at $7,420,822.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles W. Moorman purchased 10,000 shares of Oracle stock in a transaction dated Monday, March 23rd. The shares were purchased at an average price of $45.23 per share, for a total transaction of $452,300.00. Following the completion of the acquisition, the director now owns 18,561 shares of the company’s stock, valued at approximately $839,514.03. The disclosure for this purchase can be found here. Insiders own 36.60% of the company’s stock.
A number of analysts have recently weighed in on ORCL shares. UBS Group cut their target price on Oracle from $57.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. BMO Capital Markets decreased their price target on Oracle from $62.00 to $46.00 and set a “market perform” rating on the stock in a research report on Friday, March 13th. Royal Bank of Canada dropped their price target on Oracle from $57.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Raymond James dropped their price target on Oracle from $61.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, March 13th. Finally, Societe Generale raised shares of Oracle from a “hold” rating to a “buy” rating and cut their price objective for the stock from $62.00 to $61.00 in a research report on Wednesday, March 4th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $53.29.
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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