Exchange Capital Management Inc. Buys 1,085 Shares of Oracle Corporation (ORCL)
Exchange Capital Management Inc. boosted its stake in shares of Oracle Corporation (NYSE:ORCL) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,087 shares of the enterprise software provider’s stock after purchasing an additional 1,085 shares during the quarter. Exchange Capital Management Inc.’s holdings in Oracle Corporation were worth $3,464,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in shares of Oracle Corporation by 1,150.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after acquiring an additional 2,300 shares during the last quarter. TrimTabs Asset Management LLC increased its holdings in shares of Oracle Corporation by 88.8% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after acquiring an additional 1,264 shares during the last quarter. Baystate Wealth Management LLC increased its holdings in shares of Oracle Corporation by 9.2% in the 2nd quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $123,000 after acquiring an additional 206 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Oracle Corporation in the 2nd quarter valued at about $129,000. Finally, Heritage Trust Co purchased a new position in shares of Oracle Corporation in the 1st quarter valued at about $130,000. Institutional investors own 57.83% of the company’s stock.
A number of research firms have recently commented on ORCL. UBS AG reiterated a “buy” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Oracle Corporation in a report on Thursday, June 22nd. They noted that the move was a valuation call. BMO Capital Markets increased their price objective on Oracle Corporation from $48.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, June 22nd. Wedbush upgraded Oracle Corporation from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $56.00 to $44.00 in a report on Thursday, June 22nd. Moffett Nathanson began coverage on Oracle Corporation in a report on Wednesday, September 6th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Vetr upgraded Oracle Corporation from a “strong sell” rating to a “sell” rating and set a $46.58 price objective on the stock in a report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.37.
In other news, EVP Dorian Daley sold 76,703 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $49.00, for a total value of $3,758,447.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Kurian sold 750,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total transaction of $37,845,000.00. Following the completion of the transaction, the insider now directly owns 783,533 shares in the company, valued at $39,537,075.18. The disclosure for this sale can be found here. Insiders sold 1,055,776 shares of company stock valued at $52,673,112 in the last 90 days. Corporate insiders own 29.00% of the company’s stock.
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Oracle Corporation (NYSE ORCL) opened at 48.40 on Monday. The company has a 50-day moving average price of $49.52 and a 200-day moving average price of $47.52. Oracle Corporation has a one year low of $37.62 and a one year high of $53.14. The firm has a market cap of $201.98 billion, a PE ratio of 21.05 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last released its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $9.21 billion during the quarter, compared to analyst estimates of $9.03 billion. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. Equities analysts predict that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, October 10th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.57%. Oracle Corporation’s payout ratio is currently 33.19%.
About Oracle Corporation
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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