Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its position in Oracle Co. (NYSE:ORCL) by 205.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 26,320 shares of the enterprise software provider’s stock after acquiring an additional 17,710 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Oracle were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORCL. First National Bank of South Miami increased its position in shares of Oracle by 104.6% in the 4th quarter. First National Bank of South Miami now owns 489 shares of the enterprise software provider’s stock valued at $26,000 after acquiring an additional 250 shares during the period. Lloyd Advisory Services LLC. acquired a new position in shares of Oracle in the 4th quarter valued at $26,000. Samalin Investment Counsel LLC acquired a new position in shares of Oracle in the 4th quarter valued at $27,000. Solstein Capital LLC acquired a new stake in Oracle during the 4th quarter worth about $33,000. Finally, ERTS Wealth Advisors LLC acquired a new stake in Oracle during the 4th quarter worth about $36,000. 50.64% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the company. BNP Paribas raised Oracle from a “neutral” rating to an “outperform” rating and set a $55.00 price target on the stock in a research report on Tuesday, March 31st. Wedbush reaffirmed a “neutral” rating and set a $49.00 price target (down from $56.00) on shares of Oracle in a research report on Wednesday, March 11th. Raymond James cut their price target on Oracle from $61.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, March 13th. JPMorgan Chase & Co. upgraded Oracle from a “neutral” rating to an “overweight” rating and raised their target price for the company from $51.00 to $55.00 in a research report on Friday, March 20th. Finally, Societe Generale upgraded Oracle from a “hold” rating to a “buy” rating and dropped their target price for the company from $62.00 to $61.00 in a research report on Wednesday, March 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $53.57.
Oracle stock traded up $0.40 during midday trading on Friday, reaching $52.62. The company had a trading volume of 7,082,880 shares, compared to its average volume of 10,488,970. The company has a market capitalization of $164.68 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.37 and a beta of 0.90. Oracle Co. has a 12-month low of $39.71 and a 12-month high of $60.50. The firm’s fifty day simple moving average is $52.51 and its 200-day simple moving average is $52.99. The company has a debt-to-equity ratio of 3.31, a current ratio of 2.12 and a quick ratio of 2.12.
Oracle (NYSE:ORCL) last released its earnings results on Thursday, March 12th. The enterprise software provider reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.01. Oracle had a net margin of 27.06% and a return on equity of 64.68%. The business had revenue of $9.80 billion for the quarter, compared to analyst estimates of $9.75 billion. During the same period last year, the company posted $0.87 EPS. The business’s revenue was up 1.9% on a year-over-year basis. On average, analysts expect that Oracle Co. will post 3.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Wednesday, April 8th. Oracle’s dividend payout ratio (DPR) is 30.38%.
Oracle announced that its Board of Directors has initiated a share buyback program on Thursday, March 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the enterprise software provider to reacquire up to 9.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Oracle news, CEO Safra Catz sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $51.73, for a total value of $51,730,000.00. Following the transaction, the chief executive officer now directly owns 2,368,592 shares of the company’s stock, valued at approximately $122,527,264.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles W. Moorman bought 20,000 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was acquired at an average cost of $48.59 per share, for a total transaction of $971,800.00. Following the completion of the purchase, the director now directly owns 38,561 shares in the company, valued at $1,873,678.99. The disclosure for this purchase can be found here. Company insiders own 36.60% of the company’s stock.
Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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