Shelter Mutual Insurance Co Sells 24,400 Shares of Oracle Corporation (ORCL)
Shelter Mutual Insurance Co trimmed its stake in shares of Oracle Corporation (NYSE:ORCL) by 8.6% during the third quarter, HoldingsChannel.com reports. The firm owned 260,980 shares of the enterprise software provider’s stock after selling 24,400 shares during the period. Oracle comprises about 3.9% of Shelter Mutual Insurance Co’s holdings, making the stock its 3rd largest position. Shelter Mutual Insurance Co’s holdings in Oracle were worth $12,619,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in ORCL. Vanguard Group Inc. increased its position in Oracle by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after acquiring an additional 5,270,359 shares during the period. BlackRock Inc. increased its position in Oracle by 2.5% in the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock valued at $9,716,707,000 after acquiring an additional 4,678,977 shares during the period. Harris Associates L P increased its position in Oracle by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after acquiring an additional 7,427,501 shares during the period. Northern Trust Corp increased its position in Oracle by 4.6% in the 2nd quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock valued at $2,110,799,000 after acquiring an additional 1,835,835 shares during the period. Finally, First Eagle Investment Management LLC increased its position in Oracle by 1.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 41,717,395 shares of the enterprise software provider’s stock valued at $2,091,710,000 after acquiring an additional 482,220 shares during the period. Institutional investors and hedge funds own 57.89% of the company’s stock.
Several analysts recently commented on ORCL shares. Canaccord Genuity started coverage on Oracle in a research report on Friday, October 6th. They issued a “buy” rating and a $57.00 target price on the stock. Wedbush restated a “buy” rating and issued a $58.00 target price on shares of Oracle in a research report on Friday, December 15th. BTIG Research restated a “buy” rating and issued a $58.00 target price on shares of Oracle in a research report on Tuesday, September 19th. JPMorgan Chase & Co. set a $55.00 target price on Oracle and gave the company a “buy” rating in a research report on Tuesday, December 12th. Finally, BidaskClub raised Oracle from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. One investment 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 stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.28.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion during 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 revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $0.61 EPS. research analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, January 9th. Oracle’s dividend payout ratio is presently 32.62%.
Oracle announced that its Board of Directors has approved a stock buyback program on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Dorian Daley sold 100,000 shares of the firm’s 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 owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total value of $183,112.50. Following the completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $885,043.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,250 shares of company stock valued at $5,306,238. 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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