Godsey & Gibb Associates Has $13.76 Million Stake in Oracle Corporation (ORCL)
Godsey & Gibb Associates reduced its position in Oracle Corporation (NYSE:ORCL) by 5.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 284,521 shares of the enterprise software provider’s stock after selling 17,307 shares during the period. Oracle accounts for about 2.4% of Godsey & Gibb Associates’ holdings, making the stock its 21st biggest holding. Godsey & Gibb Associates’ holdings in Oracle were worth $13,757,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Oracle by 4.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 10,159,207 shares of the enterprise software provider’s stock valued at $509,383,000 after purchasing an additional 450,836 shares during the last quarter. Partnervest Advisory Services LLC lifted its holdings in shares of Oracle by 0.6% in the 2nd quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after purchasing an additional 39 shares during the last quarter. Lockheed Martin Investment Management Co. lifted its holdings in shares of Oracle by 125.6% in the 2nd quarter. Lockheed Martin Investment Management Co. now owns 166,160 shares of the enterprise software provider’s stock valued at $8,331,000 after purchasing an additional 92,500 shares during the last quarter. Pinnacle Financial Partners Inc. lifted its holdings in shares of Oracle by 8.9% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 113,707 shares of the enterprise software provider’s stock valued at $5,701,000 after purchasing an additional 9,328 shares during the last quarter. Finally, BT Investment Management Ltd purchased a new stake in Oracle during the 2nd quarter valued at approximately $459,738,000. 57.89% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the company. Vetr raised Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 price objective for the company in a research note on Monday, September 18th. BidaskClub downgraded Oracle from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Credit Suisse Group reaffirmed an “overweight” rating and set a $62.00 price objective on shares of Oracle in a research note on Monday, September 18th. JPMorgan Chase & Co. set a $55.00 price objective on Oracle and gave the company a “buy” rating in a research note on Monday, December 18th. Finally, Bank of America reaffirmed a “buy” rating and set a $62.00 price objective on shares of Oracle in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. Oracle currently has a consensus rating of “Buy” and an average target price of $55.28.
Oracle Corporation (NYSE ORCL) opened at $48.95 on Friday. The stock has a market capitalization of $204,290.00, a P/E ratio of 21.01, a PEG ratio of 1.85 and a beta of 1.05. Oracle Corporation has a one year low of $38.59 and a one year high of $53.14. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. research analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s dividend payout ratio is currently 32.62%.
Oracle announced that its board has authorized a share repurchase program on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total value of $183,112.50. Following the completion of the sale, the director now owns 18,125 shares in the company, valued at approximately $885,043.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,250 shares of company stock worth $5,306,238. Insiders own 29.00% of the company’s stock.
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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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