Oracle Corporation (ORCL) Stake Lessened by CIBC Asset Management Inc
CIBC Asset Management Inc decreased its position in Oracle Corporation (NYSE:ORCL) by 0.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 603,651 shares of the enterprise software provider’s stock after selling 4,124 shares during the quarter. CIBC Asset Management Inc’s holdings in Oracle were worth $29,187,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC grew its stake 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 grew its position in Oracle by 4.3% during the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after buying an additional 88 shares during the period. IHT Wealth Management LLC grew its position in Oracle by 65.9% during the second quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock valued at $154,000 after buying an additional 947 shares during the period. State of Alaska Department of Revenue bought a new position in Oracle during the second quarter valued at about $129,000. Finally, ETF Managers Group LLC bought a new position in Oracle during the second quarter valued at about $133,000. Hedge funds and other institutional investors own 57.89% of the company’s stock.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dorian Daley sold 100,000 shares of the stock in a transaction dated 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. Over the last three months, insiders sold 111,250 shares of company stock worth $5,306,238. Insiders own 29.00% of the company’s stock.
Several research firms recently weighed in on ORCL. Drexel Hamilton restated a “buy” rating and set a $62.00 price target on shares of Oracle in a research report on Tuesday, January 2nd. BTIG Research restated a “buy” rating and set a $58.00 price target on shares of Oracle in a research report on Tuesday, September 19th. BidaskClub lowered shares of Oracle from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Stifel Nicolaus restated a “buy” rating and set a $53.00 price target (up previously from $52.00) on shares of Oracle in a research report on Saturday, September 16th. Finally, ValuEngine upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. Oracle has an average rating of “Buy” and an average price target of $55.28.
Oracle Corporation (NYSE ORCL) opened at $49.51 on Friday. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. The firm has a market cap of $206,630.00, a PE ratio of 21.25, a price-to-earnings-growth ratio of 1.87 and a beta of 1.05. Oracle Corporation has a 1 year low of $38.88 and a 1 year high of $53.14.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The firm had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the business earned $0.61 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. sell-side analysts expect that Oracle Corporation will post 2.68 EPS for the current fiscal year.
Oracle announced that its Board of Directors has initiated a share repurchase program 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 purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s payout ratio is 32.62%.
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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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