Magellan Asset Management Ltd Grows Holdings in Oracle Co. (ORCL)
Magellan Asset Management Ltd raised its position in Oracle Co. (NYSE:ORCL) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,936,949 shares of the enterprise software provider’s stock after acquiring an additional 148,974 shares during the quarter. Oracle makes up approximately 5.0% of Magellan Asset Management Ltd’s portfolio, making the stock its 11th biggest position. Magellan Asset Management Ltd owned 0.75% of Oracle worth $1,396,803,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORCL. Csenge Advisory Group acquired a new position in shares of Oracle during the third quarter worth about $25,000. Massey Quick Simon & CO. LLC grew its position in shares of Oracle by 220.9% during the fourth quarter. Massey Quick Simon & CO. LLC now owns 600 shares of the enterprise software provider’s stock worth $27,000 after buying an additional 413 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Oracle during the fourth quarter worth about $35,000. Truehand Inc acquired a new position in shares of Oracle during the fourth quarter worth about $36,000. Finally, ERTS Wealth Advisors LLC acquired a new position in shares of Oracle during the fourth quarter worth about $36,000. 47.39% of the stock is owned by institutional investors.
Shares of NYSE ORCL opened at $54.52 on Monday. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.65 and a quick ratio of 2.65. Oracle Co. has a twelve month low of $42.40 and a twelve month high of $54.91. The company has a market capitalization of $225.69 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.81 and a beta of 1.08.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, April 11th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.76%. This is a boost from Oracle’s previous quarterly dividend of $0.19. Oracle’s payout ratio is currently 34.04%.
In other Oracle news, insider Jeffrey Henley sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $54.03, for a total value of $21,612,000.00. Following the completion of the sale, the insider now owns 400,000 shares in the company, valued at $21,612,000. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $51.54, for a total value of $193,275.00. Following the completion of the sale, the director now owns 27,969 shares of the company’s stock, valued at approximately $1,441,522.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,773,750 shares of company stock valued at $95,395,063. 32.00% of the stock is owned by company insiders.
A number of equities analysts have recently commented on the company. DZ Bank reissued a “sell” rating on shares of Oracle in a research report on Tuesday, March 19th. Nomura reissued a “reduce” rating and set a $42.00 price objective (down from $53.00) on shares of Oracle in a research report on Monday, March 11th. Royal Bank of Canada upped their price target on Oracle to $57.00 and gave the company a “sector perform” rating in a report on Friday, March 15th. Raymond James upped their price target on Oracle from $54.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Finally, UBS Group upped their price target on Oracle to $54.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company. Oracle has an average rating of “Hold” and an average target price of $52.53.
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Oracle Company 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.
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