Oracle Co. (ORCL) is Quadrant Private Wealth Management LLC’s 2nd Largest Position
Quadrant Private Wealth Management LLC raised its stake in Oracle Co. (NYSE:ORCL) by 2.1% during the third quarter, HoldingsChannel.com reports. The fund owned 129,607 shares of the enterprise software provider’s stock after acquiring an additional 2,681 shares during the quarter. Oracle accounts for about 5.9% of Quadrant Private Wealth Management LLC’s holdings, making the stock its 2nd largest position. Quadrant Private Wealth Management LLC’s holdings in Oracle were worth $6,683,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Oracle by 21.4% during the second quarter. FMR LLC now owns 47,683,832 shares of the enterprise software provider’s stock worth $2,100,949,000 after purchasing an additional 8,401,411 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Oracle during the second quarter worth $218,896,000. Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Oracle by 787.8% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,944,051 shares of the enterprise software provider’s stock worth $85,654,000 after purchasing an additional 1,725,077 shares during the last quarter. Putnam Investments LLC grew its holdings in shares of Oracle by 202.1% during the second quarter. Putnam Investments LLC now owns 2,136,058 shares of the enterprise software provider’s stock worth $94,115,000 after purchasing an additional 1,428,924 shares during the last quarter. Finally, Royal London Asset Management Ltd. bought a new stake in shares of Oracle during the second quarter worth $54,770,000. Hedge funds and other institutional investors own 53.14% of the company’s stock.
Several analysts have recently commented on ORCL shares. Zacks Investment Research upgraded Oracle from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Rosenblatt Securities reaffirmed a “hold” rating and set a $51.00 price target on shares of Oracle in a research note on Tuesday, October 30th. Wells Fargo & Co cut their price target on Oracle from $62.50 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 18th. Credit Suisse Group reaffirmed a “buy” rating and set a $60.00 price target on shares of Oracle in a research note on Tuesday, September 18th. Finally, Barclays upped their price target on Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Seventeen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.71.
Oracle (NYSE:ORCL) last released its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The firm had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.26 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Research analysts anticipate that Oracle Co. will post 3.06 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Monday, October 15th. Oracle’s payout ratio is 26.95%.
Oracle announced that its board has approved a share buyback program on Monday, September 17th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $49.42, for a total value of $185,325.00. Following the transaction, the director now owns 27,969 shares of the company’s stock, valued at $1,382,227.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dorian Daley sold 131,696 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the completion of the transaction, the executive vice president now directly owns 109,615 shares in the company, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. Insiders sold 142,946 shares of company stock worth $7,248,965 in the last three months. Insiders own 32.00% of the company’s stock.
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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