BlackRock Inc. trimmed its position in shares of Oracle Co. (NYSE:ORCL) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,493,105 shares of the enterprise software provider’s stock after selling 11,114,127 shares during the quarter. BlackRock Inc. owned approximately 5.20% of Oracle worth $9,883,902,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Evolution Wealth Advisors LLC raised its position in shares of Oracle by 346.0% during the second quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock worth $25,000 after acquiring an additional 346 shares during the last quarter. Investors Research Corp bought a new position in shares of Oracle during the first quarter worth about $30,000. Next Capital Management LLC bought a new position in shares of Oracle during the second quarter worth about $36,000. Covenant Multifamily Offices LLC bought a new position in shares of Oracle during the first quarter worth about $35,000. Finally, Shamrock Asset Management LLC raised its position in shares of Oracle by 577.0% during the second quarter. Shamrock Asset Management LLC now owns 677 shares of the enterprise software provider’s stock worth $39,000 after acquiring an additional 577 shares during the last quarter. 53.05% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on ORCL shares. Wells Fargo & Co raised their price objective on Oracle from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Macquarie downgraded Oracle from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $56.00 to $55.00 in a report on Tuesday, June 18th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $56.00 target price on Oracle and gave the stock a “neutral” rating in a report on Thursday. Goldman Sachs Group set a $62.00 target price on Oracle and gave the stock a “buy” rating in a report on Thursday. Finally, William Blair reiterated a “market perform” rating on shares of Oracle in a report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have issued a buy rating to the company. Oracle has a consensus rating of “Hold” and a consensus price target of $55.88.
Shares of Oracle stock opened at $53.89 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.49 and a current ratio of 2.49. Oracle Co. has a 52 week low of $42.40 and a 52 week high of $60.50. The stock has a 50 day moving average price of $54.15 and a two-hundred day moving average price of $54.46. The stock has a market capitalization of $185.04 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.62 and a beta of 1.18.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.09. Oracle had a return on equity of 40.95% and a net margin of 28.06%. The firm had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter last year, the firm posted $0.71 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts forecast that Oracle Co. will post 3.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.78%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.
In related news, CAO W Corey West sold 50,000 shares of Oracle stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $56.25, for a total transaction of $2,812,500.00. Following the transaction, the chief accounting officer now owns 85,348 shares of the company’s stock, valued at $4,800,825. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Naomi O. Seligman sold 90,000 shares of Oracle stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $59.52, for a total value of $5,356,800.00. Following the transaction, the director now directly owns 82,310 shares in the company, valued at approximately $4,899,091.20. The disclosure for this sale can be found here. Insiders sold 2,140,000 shares of company stock valued at $117,501,425 in the last three months. Insiders own 32.00% of the company’s stock.
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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