Neuberger Berman Group LLC Grows Stake in Oracle Co. (ORCL)
Neuberger Berman Group LLC lifted its holdings in shares of Oracle Co. (NYSE:ORCL) by 3.7% during the third quarter, HoldingsChannel.com reports. The firm owned 12,794,518 shares of the enterprise software provider’s stock after acquiring an additional 452,100 shares during the quarter. Oracle comprises 0.8% of Neuberger Berman Group LLC’s holdings, making the stock its 8th largest holding. Neuberger Berman Group LLC’s holdings in Oracle were worth $618,615,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its holdings in shares of Oracle by 4.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 10,159,207 shares of the enterprise software provider’s stock worth $509,383,000 after buying an additional 450,836 shares in the last quarter. Partnervest Advisory Services LLC grew its holdings in shares of Oracle by 0.6% during the second quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock worth $337,000 after buying an additional 39 shares in the last quarter. Pinnacle Financial Partners Inc. grew its holdings in shares of Oracle by 8.9% during the second quarter. Pinnacle Financial Partners Inc. now owns 113,707 shares of the enterprise software provider’s stock worth $5,701,000 after buying an additional 9,328 shares in the last quarter. Strategy Asset Managers LLC grew its holdings in shares of Oracle by 22.3% during the third quarter. Strategy Asset Managers LLC now owns 257,359 shares of the enterprise software provider’s stock worth $12,443,000 after buying an additional 46,866 shares in the last quarter. Finally, BT Investment Management Ltd bought a new position in shares of Oracle during the second quarter worth about $459,738,000. 57.92% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the company. Oppenheimer reiterated a “hold” rating on shares of Oracle in a report on Friday, December 15th. Zacks Investment Research downgraded Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Vetr upgraded Oracle from a “buy” rating to a “strong-buy” rating and set a $55.49 price objective for the company in a report on Monday, November 13th. Instinet assumed coverage on Oracle in a report on Wednesday, January 24th. They set a “buy” rating and a $51.12 price objective for the company. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Oracle in a report on Sunday, October 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirty have issued a buy rating to the company’s stock. Oracle currently has an average rating of “Buy” and an average target price of $55.39.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The company had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the company posted $0.61 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. research analysts anticipate that Oracle Co. will post 2.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.59%. Oracle’s dividend payout ratio is currently 32.62%.
Oracle announced that its board has authorized a stock buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total transaction of $183,112.50. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $885,043.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of Oracle 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 directly owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders have sold a total of 1,956,250 shares of company stock valued at $98,313,363 over the last quarter. 29.00% of the stock is currently owned by corporate insiders.
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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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