Oracle Corporation (ORCL) Shares Bought by Sit Investment Associates Inc.
Sit Investment Associates Inc. lifted its holdings in shares of Oracle Corporation (NYSE:ORCL) by 10.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 515,264 shares of the enterprise software provider’s stock after acquiring an additional 48,660 shares during the period. Sit Investment Associates Inc.’s holdings in Oracle were worth $24,913,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. increased its position in Oracle by 6,353.4% during the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock worth $831,551,000 after buying an additional 18,351,920 shares during the period. BT Investment Management Ltd acquired a new position in Oracle during the second quarter worth approximately $459,738,000. Harris Associates L P increased its position in Oracle by 17.9% during the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after buying an additional 7,427,501 shares during the period. FMR LLC increased its position in Oracle by 24.8% during the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock worth $1,658,750,000 after buying an additional 6,577,297 shares during the period. Finally, Vanguard Group Inc. increased its position in Oracle by 2.6% during the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after buying an additional 5,270,359 shares during the period. 57.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Oracle Corporation (NYSE:ORCL) opened at $48.30 on Friday. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 0.86. Oracle Corporation has a 12 month low of $38.30 and a 12 month high of $53.14. The firm has a market capitalization of $201,579.36, a P/E ratio of 18.44, a P/E/G ratio of 1.84 and a beta of 1.05.
The firm also recently declared 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 dividend yield of 1.57%. Oracle’s dividend payout ratio (DPR) is presently 32.62%.
Oracle announced that its board has approved a share buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Several research analysts have commented on ORCL shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $53.00 price target on shares of Oracle in a research report on Sunday, August 27th. Zacks Investment Research lowered Oracle from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. ValuEngine raised Oracle from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Vetr lowered Oracle from a “buy” rating to a “hold” rating and set a $46.58 price target on the stock. in a research report on Sunday, September 3rd. Finally, Credit Suisse Group began coverage on Oracle in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $62.00 target price on the stock. Fourteen investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $55.32.
In related news, Director Jeffrey Berg sold 45,000 shares of Oracle 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dorian Daley sold 76,703 shares of Oracle stock in a transaction that occurred on Wednesday, October 4th. The shares were 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. Over the last 90 days, insiders sold 302,026 shares of company stock worth $14,633,187. Company insiders own 29.00% of the company’s stock.
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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