Adell Harriman & Carpenter Inc. Grows Position in Oracle Corporation (ORCL)
Adell Harriman & Carpenter Inc. increased its position in shares of Oracle Corporation (NYSE:ORCL) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,840 shares of the enterprise software provider’s stock after purchasing an additional 1,551 shares during the period. Oracle makes up about 1.3% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 26th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Oracle were worth $5,843,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. BT Investment Management Ltd acquired a new position in Oracle in the 2nd quarter valued at $459,738,000. Harris Associates L P raised its holdings in Oracle by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after acquiring an additional 7,427,501 shares in the last quarter. FMR LLC raised its holdings in Oracle by 24.8% in the 2nd quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after acquiring an additional 6,577,297 shares in the last quarter. Vanguard Group Inc. raised its holdings in Oracle by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after acquiring an additional 5,270,359 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Oracle by 24.4% during the 3rd quarter. Boston Partners now owns 23,924,971 shares of the enterprise software provider’s stock worth $1,156,772,000 after buying an additional 4,699,334 shares in the last quarter. 57.89% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the sale, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $48.40, for a total value of $181,500.00. Following the sale, the director now owns 18,125 shares in the company, valued at approximately $877,250. The disclosure for this sale can be found here. Insiders sold a total of 107,500 shares of company stock worth $5,123,613 in the last quarter. Corporate insiders own 29.00% of the company’s stock.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The business’s revenue was up 6.2% on a year-over-year basis. equities research analysts expect 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 plan on Thursday, December 14th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be given a $0.19 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.54%. Oracle’s dividend payout ratio (DPR) is presently 32.62%.
A number of equities analysts have recently commented on ORCL shares. UBS Group set a $55.00 price target on Oracle and gave the stock a “neutral” rating in a report on Friday, December 15th. Vetr raised Oracle from a “hold” rating to a “strong-buy” rating and set a $60.60 price target for the company in a report on Thursday, November 2nd. BidaskClub raised Oracle from a “buy” rating to a “strong-buy” rating in a report on Friday, October 27th. Oppenheimer reissued a “hold” rating on shares of Oracle in a report on Friday, December 15th. Finally, Goldman Sachs Group set a $56.00 price target on Oracle and gave the stock a “buy” rating in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $55.28.
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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