Institute for Wealth Management LLC. grew its holdings in shares of Oracle Co. (NYSE:ORCL) by 15.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,064 shares of the enterprise software provider’s stock after purchasing an additional 2,891 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Oracle were worth $1,200,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ORCL. Norges Bank bought a new position in Oracle during the fourth quarter worth about $1,235,719,000. Assenagon Asset Management S.A. boosted its position in shares of Oracle by 1,540.3% in the first quarter. Assenagon Asset Management S.A. now owns 2,380,038 shares of the enterprise software provider’s stock valued at $127,832,000 after acquiring an additional 2,234,942 shares during the period. PGGM Investments boosted its position in shares of Oracle by 1,064.6% in the second quarter. PGGM Investments now owns 2,258,315 shares of the enterprise software provider’s stock valued at $128,656,000 after acquiring an additional 2,064,403 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Oracle by 132.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,507,235 shares of the enterprise software provider’s stock valued at $199,811,000 after acquiring an additional 1,996,744 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Oracle by 35.5% in the second quarter. First Trust Advisors LP now owns 3,794,527 shares of the enterprise software provider’s stock valued at $216,174,000 after acquiring an additional 993,629 shares during the period. Hedge funds and other institutional investors own 54.23% of the company’s stock.
ORCL has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Oracle from $55.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, June 20th. ValuEngine lowered shares of Oracle from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Co raised their price objective on shares of Oracle from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. BMO Capital Markets restated a “market perform” rating and issued a $59.00 price objective (up from $53.00) on shares of Oracle in a research report on Thursday, June 20th. Finally, Macquarie lowered shares of Oracle from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $56.00 to $55.00 in a research report on Tuesday, June 18th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.76.
In other Oracle news, Director Michael J. Boskin sold 150,000 shares of Oracle stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $56.65, for a total transaction of $8,497,500.00. Following the completion of the sale, the director now directly owns 134,796 shares in the company, valued at $7,636,193.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark V. Hurd sold 787,500 shares of Oracle stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $56.29, for a total transaction of $44,328,375.00. Following the sale, the chief executive officer now owns 874,871 shares of the company’s stock, valued at $49,246,488.59. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,352,500 shares of company stock valued at $76,708,925. 32.00% of the stock is currently owned by company insiders.
Oracle stock traded up $1.00 during mid-day trading on Friday, hitting $53.59. 9,836,000 shares of the company traded hands, compared to its average volume of 10,523,506. Oracle Co. has a one year low of $42.40 and a one year high of $60.50. The stock has a market cap of $175.43 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a fifty day moving average price of $57.09 and a 200-day moving average price of $54.29.
Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.18. Oracle had a net margin of 28.06% and a return on equity of 40.95%. The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $10.93 billion. During the same period in the previous year, the business posted $0.99 earnings per share. Oracle’s revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts predict that Oracle Co. will post 3.5 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, July 16th. This represents a $0.96 annualized dividend and a yield of 1.79%. Oracle’s payout ratio is presently 30.38%.
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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