Oracle Corporation (ORCL) Stake Increased by Principal Financial Group Inc.
Principal Financial Group Inc. raised its position in Oracle Corporation (NYSE:ORCL) by 13.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,711,730 shares of the enterprise software provider’s stock after acquiring an additional 813,884 shares during the period. Principal Financial Group Inc.’s holdings in Oracle were worth $324,512,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Keel Point LLC lifted its stake in shares of Oracle by 0.3% in the second quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock valued at $268,000 after purchasing an additional 14 shares during the period. Joel Isaacson & Co. LLC lifted its stake in shares of Oracle by 0.3% in the second quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock valued at $411,000 after purchasing an additional 24 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of Oracle by 0.4% in the second quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock valued at $404,000 after purchasing an additional 35 shares during the period. Partnervest Advisory Services LLC lifted its stake in shares of Oracle by 0.6% in the second quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after purchasing an additional 39 shares during the period. Finally, Klingenstein Fields & Co. LLC increased its holdings in Oracle by 0.9% during the 2nd quarter. Klingenstein Fields & Co. LLC now owns 6,679 shares of the enterprise software provider’s stock valued at $335,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 57.89% of the company’s stock.
Several research firms have weighed in on ORCL. Vetr upgraded shares of Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 target price for the company in a report on Monday, September 18th. BidaskClub downgraded shares of Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Credit Suisse Group restated an “overweight” rating and set a $62.00 target price on shares of Oracle in a report on Monday, September 18th. JPMorgan Chase & Co. set a $55.00 target price on shares of Oracle and gave the company a “buy” rating in a report on Monday, December 18th. Finally, Bank of America restated a “buy” rating and set a $62.00 target price on shares of Oracle in a report on Monday, September 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have given a buy rating to the company’s stock. Oracle currently has an average rating of “Buy” and a consensus price target of $55.28.
Shares of Oracle Corporation (ORCL) opened at $48.98 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04. Oracle Corporation has a 12-month low of $38.47 and a 12-month high of $53.14. The stock has a market cap of $204,420.00, a P/E ratio of 21.02, a P/E/G ratio of 1.85 and a beta of 1.05.
Oracle (NYSE:ORCL) last released its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business had revenue of $9.63 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. analysts anticipate that Oracle Corporation will post 2.68 EPS for the current fiscal year.
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 given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.55%. Oracle’s dividend payout ratio is presently 32.62%.
Oracle declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 14th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total value of $183,112.50. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at $885,043.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction 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 $6,517,640.86. The disclosure for this sale can be found here. Insiders sold 111,250 shares of company stock worth $5,306,238 over the last three months. Corporate 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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