MPS Loria Financial Planners LLC Buys New Holdings in Oracle Corporation (ORCL)
MPS Loria Financial Planners LLC bought a new position in shares of Oracle Corporation (NYSE:ORCL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 3,693 shares of the enterprise software provider’s stock, valued at approximately $180,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Acrospire Investment Management LLC raised its position in shares of Oracle by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares in the last quarter. Burt Wealth Advisors raised its position in shares of Oracle by 4.3% in the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after acquiring an additional 88 shares in the last quarter. TrimTabs Asset Management LLC raised its position in shares of Oracle by 88.8% in 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 in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Oracle in the 2nd quarter worth about $129,000. Finally, Heritage Trust Co bought a new position in shares of Oracle in the 1st quarter worth about $130,000. 57.70% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Jeffrey Berg sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $48.03, for a total value of $2,161,350.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dorian Daley sold 76,703 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $49.00, for a total value of $3,758,447.00. The disclosure for this sale can be found here. Insiders sold a total of 302,026 shares of company stock worth $14,633,187 in the last 90 days. Company insiders own 29.00% of the company’s stock.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. Oracle had a return on equity of 20.72% 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 previous year, the company posted $0.61 EPS. analysts expect that Oracle Corporation will post 2.68 earnings per share for the current year.
Oracle declared that its board has approved a stock repurchase plan 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 plans are typically an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.57%. Oracle’s dividend payout ratio is currently 32.62%.
Several research analysts have recently weighed in on ORCL shares. Credit Suisse Group started coverage on Oracle in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $62.00 price objective for the company. Zacks Investment Research lowered Oracle from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Vetr lowered Oracle from a “buy” rating to a “hold” rating and set a $46.58 price objective for the company. in a research report on Sunday, September 3rd. ValuEngine raised Oracle from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, UBS reissued a “neutral” rating and issued a $55.00 price objective (down from $57.00) on shares of Oracle in a research report on Thursday, November 9th. Fourteen research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $55.02.
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Oracle Company Profile
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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