Yacktman Asset Management LP Has $717.62 Million Holdings in Oracle Corporation (ORCL)
Yacktman Asset Management LP decreased its stake in Oracle Corporation (NYSE:ORCL) by 3.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,842,152 shares of the enterprise software provider’s stock after selling 511,385 shares during the quarter. Oracle makes up approximately 6.9% of Yacktman Asset Management LP’s holdings, making the stock its 7th largest position. Yacktman Asset Management LP’s holdings in Oracle were worth $717,618,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its holdings in shares of Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after purchasing an additional 1,800 shares in the last quarter. Burt Wealth Advisors raised its holdings in shares of Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of Oracle by 65.9% during the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock valued at $154,000 after purchasing an additional 947 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Oracle during the 2nd quarter valued at $129,000. Finally, ETF Managers Group LLC acquired a new position in Oracle in the 2nd quarter valued at $133,000. Institutional investors and hedge funds own 57.89% of the company’s stock.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the transaction, the executive vice president now directly 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 available at this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total transaction of $183,112.50. Following the completion of the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at $885,043.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,250 shares of company stock valued at $5,306,238. Insiders own 29.00% of the company’s stock.
Oracle (NYSE:ORCL) last announced its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. equities analysts predict that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
Oracle announced that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders 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 1.55%. The ex-dividend date is Tuesday, January 9th. Oracle’s dividend payout ratio is presently 32.62%.
ORCL has been the topic of a number of research analyst reports. Vetr lowered shares of Oracle from a “sell” rating to a “strong sell” rating and set a $46.58 target price on the stock. in a research note on Tuesday, September 12th. Canaccord Genuity initiated coverage on shares of Oracle in a research note on Friday, October 6th. They issued a “buy” rating and a $57.00 target price on the stock. Wedbush reiterated a “buy” rating and issued a $58.00 target price on shares of Oracle in a research note on Friday, December 15th. BTIG Research reiterated a “buy” rating and issued a $58.00 target price on shares of Oracle in a research note on Tuesday, September 19th. Finally, JPMorgan Chase & Co. set a $55.00 target price on shares of Oracle and gave the company a “buy” rating in a research note on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $55.28.
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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