Salem Investment Counselors Inc. Sells 1,563 Shares of Oracle Co. (ORCL)
Salem Investment Counselors Inc. lessened its stake in shares of Oracle Co. (NYSE:ORCL) by 11.4% during the third quarter, HoldingsChannel.com reports. The fund owned 12,168 shares of the enterprise software provider’s stock after selling 1,563 shares during the period. Salem Investment Counselors Inc.’s holdings in Oracle were worth $592,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Gofen & Glossberg LLC IL increased its stake in shares of Oracle by 15.2% in the 3rd quarter. Gofen & Glossberg LLC IL now owns 67,143 shares of the enterprise software provider’s stock valued at $3,246,000 after purchasing an additional 8,836 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of Oracle in the 3rd quarter valued at $467,000. IFM Investors Pty Ltd increased its stake in shares of Oracle by 2.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 86,303 shares of the enterprise software provider’s stock valued at $4,173,000 after purchasing an additional 2,358 shares during the last quarter. Yellowstone Partners LLC bought a new position in shares of Oracle in the 3rd quarter valued at $216,000. Finally, Independent Advisor Alliance increased its stake in shares of Oracle by 45.4% in the 3rd quarter. Independent Advisor Alliance now owns 29,116 shares of the enterprise software provider’s stock valued at $1,408,000 after purchasing an additional 9,098 shares during the last quarter. Hedge funds and other institutional investors own 57.77% of the company’s stock.
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the company a “buy” rating in a research note on Monday, December 18th. Nomura assumed coverage on Oracle in a report on Tuesday, January 23rd. They set a “buy” rating and a $64.00 price objective on the stock. Vetr raised Oracle from a “hold” rating to a “buy” rating and set a $51.77 price objective on the stock in a report on Monday, February 5th. Royal Bank of Canada set a $51.00 price objective on Oracle and gave the company a “neutral” rating in a report on Monday, January 22nd. Finally, Instinet assumed coverage on Oracle in a report on Wednesday, January 24th. They set a “buy” rating and a $51.12 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirty have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $55.39.
Oracle (NYSE:ORCL) last announced 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. The firm had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. equities analysts anticipate that Oracle Co. will post 2.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.57%. The ex-dividend date was Tuesday, January 9th. Oracle’s payout ratio is presently 32.62%.
Oracle declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $48.40, for a total value of $181,500.00. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at $877,250. The disclosure for this sale can be found here. Insiders have sold a total of 1,952,500 shares of company stock worth $98,130,250 over the last ninety days. Company insiders own 29.00% of the company’s stock.
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Oracle Company Profile
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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