Oracle Corporation (ORCL) Shares Bought by Klingenstein Fields & Co. LLC
Klingenstein Fields & Co. LLC increased its holdings in Oracle Corporation (NYSE:ORCL) by 2,768.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 191,591 shares of the enterprise software provider’s stock after buying an additional 184,912 shares during the quarter. Klingenstein Fields & Co. LLC’s holdings in Oracle were worth $9,263,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in ORCL. Acrospire Investment Management LLC increased its stake in 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 during the last quarter. Burt Wealth Advisors increased its position in shares of Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Oracle during the 2nd quarter valued at approximately $129,000. ETF Managers Group LLC bought a new position in shares of Oracle during the 2nd quarter valued at approximately $133,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Oracle by 17.4% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,702 shares of the enterprise software provider’s stock valued at $135,000 after purchasing an additional 400 shares during the last quarter. 57.89% of the stock is currently owned by institutional investors and hedge funds.
Oracle Corporation (NYSE ORCL) opened at $48.47 on Friday. 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 Corporation has a 52-week low of $38.38 and a 52-week high of $53.14. The stock has a market capitalization of $202,290.00, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 1.82 and a beta of 1.05.
Oracle (NYSE:ORCL) last announced its quarterly 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. The business had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 EPS. sell-side analysts forecast that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
Oracle declared that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s payout ratio is currently 32.62%.
In related news, EVP Dorian Daley sold 100,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 136,954 shares in the company, valued at approximately $6,517,640.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $48.70, for a total value of $182,625.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,250 shares of company stock worth $5,306,238. Corporate insiders own 29.00% of the company’s stock.
ORCL has been the subject of a number of recent analyst reports. Vetr cut Oracle from a “sell” rating to a “strong sell” rating and set a $46.58 price objective for the company. in a report on Tuesday, September 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 target price on shares of Oracle in a report on Monday, September 11th. Canaccord Genuity assumed coverage on Oracle in a report on Friday, October 6th. They issued a “buy” rating and a $57.00 target price for the company. Wedbush restated a “buy” rating and set a $58.00 price objective on shares of Oracle in a research note on Friday, December 15th. Finally, BTIG Research restated a “buy” rating and set a $58.00 price objective on shares of Oracle in a research note on Tuesday, September 19th. One equities 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. The stock has an average rating of “Buy” and a consensus price target of $55.28.
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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