Hallmark Capital Management Inc. Boosts Position in Oracle Corporation (ORCL)
Hallmark Capital Management Inc. increased its stake in shares of Oracle Corporation (NYSE:ORCL) by 0.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 350,680 shares of the enterprise software provider’s stock after buying an additional 1,552 shares during the period. Oracle Corporation comprises about 2.4% of Hallmark Capital Management Inc.’s holdings, making the stock its 6th biggest position. Hallmark Capital Management Inc.’s holdings in Oracle Corporation were worth $17,583,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Oracle Corporation by 1,150.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 2,300 shares during the period. TrimTabs Asset Management LLC grew its stake in shares of Oracle Corporation by 88.8% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock worth $120,000 after acquiring an additional 1,264 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Oracle Corporation during the 2nd quarter worth $129,000. Heritage Trust Co bought a new position in shares of Oracle Corporation during the 1st quarter worth $130,000. Finally, Clean Yield Group bought a new position in shares of Oracle Corporation during the 1st quarter worth $131,000. Institutional investors and hedge funds own 58.66% of the company’s stock.
Oracle Corporation (NYSE:ORCL) traded up 0.113% during midday trading on Tuesday, reaching $48.855. 6,755,928 shares of the company traded hands. Oracle Corporation has a one year low of $37.62 and a one year high of $53.14. The company has a 50 day moving average price of $49.54 and a 200-day moving average price of $47.45. The stock has a market capitalization of $203.87 billion, a P/E ratio of 21.251 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last issued its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The company had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $9.03 billion. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts forecast that Oracle Corporation will post $2.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, October 10th. Oracle Corporation’s payout ratio is 33.19%.
In related news, Director Bruce R. Chizen sold 206,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $49.75, for a total transaction of $10,260,937.50. Following the completion of the transaction, the director now owns 63,985 shares in the company, valued at approximately $3,183,253.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas Kurian sold 750,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total transaction of $37,845,000.00. Following the transaction, the insider now owns 783,533 shares of the company’s stock, valued at approximately $39,537,075.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,185,323 shares of company stock valued at $59,175,602. Insiders own 29.00% of the company’s stock.
Several brokerages recently weighed in on ORCL. Goldman Sachs Group, Inc. (The) set a $49.00 price objective on Oracle Corporation and gave the stock a “buy” rating in a report on Monday, June 12th. Bank of America Corporation reaffirmed a “buy” rating and set a $62.00 price objective (up from $54.00) on shares of Oracle Corporation in a report on Thursday, June 22nd. Canaccord Genuity lowered shares of Oracle Corporation to a “buy” rating and increased their target price for the stock from $49.00 to $56.00 in a research report on Thursday, June 22nd. UBS AG reiterated a “buy” rating and set a $52.00 target price (up previously from $48.00) on shares of Oracle Corporation in a research report on Thursday, June 22nd. They noted that the move was a valuation call. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $55.00 target price on shares of Oracle Corporation in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have issued a buy rating to the stock. Oracle Corporation has a consensus rating of “Buy” and an average price target of $53.33.
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About Oracle Corporation
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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