Shelton Capital Management Sells 79,772 Shares of Oracle Co. (ORCL)
Shelton Capital Management decreased its stake in Oracle Co. (NYSE:ORCL) by 45.0% in the third quarter, HoldingsChannel.com reports. The firm owned 97,474 shares of the enterprise software provider’s stock after selling 79,772 shares during the period. Shelton Capital Management’s holdings in Oracle were worth $4,713,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Acrospire Investment Management LLC lifted its stake in shares of Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares during the last quarter. Burt Wealth Advisors lifted its stake in shares of Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after acquiring an additional 88 shares during the last quarter. IHT Wealth Management LLC lifted its stake in shares of Oracle by 65.9% during the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after acquiring an additional 947 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of Oracle by 81,200.0% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock worth $118,000 after acquiring an additional 2,436 shares during the last quarter. Finally, ETF Managers Group LLC bought a new stake in shares of Oracle during the 2nd quarter worth approximately $133,000. Hedge funds and other institutional investors own 57.77% of the company’s stock.
In related news, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 136,954 shares in the company, valued at approximately $6,517,640.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $49.72, for a total value of $186,450.00. Following the transaction, the director now owns 18,125 shares in the company, valued at $901,175. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,952,500 shares of company stock worth $98,130,250. 29.00% of the stock is owned by company insiders.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. research analysts anticipate that Oracle Co. will post 2.68 earnings per share for the current year.
Oracle declared that its Board of Directors has authorized a stock buyback program 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 purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, January 9th. This represents a $0.76 annualized dividend and a yield of 1.54%. Oracle’s dividend payout ratio (DPR) is 32.62%.
A number of equities research analysts recently issued reports on the company. Oppenheimer reissued a “hold” rating on shares of Oracle in a research note on Friday, December 15th. Zacks Investment Research lowered Oracle from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Vetr raised Oracle from a “buy” rating to a “strong-buy” rating and set a $55.49 price target for the company in a research note on Monday, November 13th. Instinet assumed coverage on Oracle in a research note on Wednesday, January 24th. They set a “buy” rating and a $51.12 price target for the company. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Oracle in a research note on Sunday, October 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirty have assigned a buy rating to the stock. Oracle currently has an average rating of “Buy” and a consensus price target of $55.39.
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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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