DAVENPORT & Co LLC Has $7.85 Million Position in Oracle Co. (NYSE:ORCL)
DAVENPORT & Co LLC boosted its holdings in shares of Oracle Co. (NYSE:ORCL) by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,915 shares of the enterprise software provider’s stock after buying an additional 7,856 shares during the period. DAVENPORT & Co LLC’s holdings in Oracle were worth $7,853,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank grew its stake in shares of Oracle by 1.7% in the 1st quarter. Comerica Bank now owns 501,862 shares of the enterprise software provider’s stock worth $37,625,000 after acquiring an additional 8,509 shares in the last quarter. Howland Capital Management LLC grew its position in Oracle by 47.9% during the first quarter. Howland Capital Management LLC now owns 8,527 shares of the enterprise software provider’s stock valued at $598,000 after buying an additional 2,763 shares during the period. Probity Advisors Inc. bought a new position in Oracle during the first quarter valued at about $492,000. J.W. Cole Advisors Inc. grew its position in Oracle by 37.4% during the first quarter. J.W. Cole Advisors Inc. now owns 25,207 shares of the enterprise software provider’s stock valued at $1,769,000 after buying an additional 6,861 shares during the period. Finally, Csenge Advisory Group grew its position in Oracle by 81.5% during the first quarter. Csenge Advisory Group now owns 6,586 shares of the enterprise software provider’s stock valued at $498,000 after buying an additional 2,957 shares during the period. Hedge funds and other institutional investors own 47.54% of the company’s stock.
NYSE:ORCL opened at $77.33 on Tuesday. The stock has a market cap of $222.98 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 1.79 and a beta of 0.76. The firm’s fifty day simple moving average is $72.88 and its 200 day simple moving average is $64.35. Oracle Co. has a twelve month low of $50.86 and a twelve month high of $80.21. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 7.37.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 22nd. Shareholders of record on Thursday, April 8th were given a dividend of $0.32 per share. The ex-dividend date was Wednesday, April 7th. This represents a $1.28 annualized dividend and a yield of 1.66%. This is a positive change from Oracle’s previous quarterly dividend of $0.24. Oracle’s dividend payout ratio (DPR) is currently 36.99%.
ORCL has been the subject of several research reports. Evercore ISI initiated coverage on shares of Oracle in a research report on Monday, March 22nd. They set an “in-line” rating and a $66.00 price target for the company. Wolfe Research started coverage on shares of Oracle in a research report on Wednesday, April 28th. They set a “peer perform” rating and a $75.00 target price for the company. Stifel Nicolaus increased their target price on shares of Oracle from $56.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, March 17th. Sanford C. Bernstein reiterated a “buy” rating and set a $81.00 target price on shares of Oracle in a research report on Thursday, March 11th. Finally, Societe Generale reiterated a “hold” rating on shares of Oracle in a research report on Wednesday, March 17th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $71.36.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $66.99, for a total transaction of $6,699,000.00. Following the completion of the transaction, the executive vice president now owns 100,000 shares of the company’s stock, valued at $6,699,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Safra Catz sold 1,013,000 shares of Oracle stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $66.42, for a total value of $67,283,460.00. Following the completion of the transaction, the chief executive officer now directly owns 1,778,592 shares of the company’s stock, valued at approximately $118,134,080.64. The disclosure for this sale can be found here. Insiders have sold 4,508,000 shares of company stock valued at $306,882,810 in the last three months. Insiders own 39.10% of the company’s stock.
Oracle Corporation provides products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle enterprise resource planning (ERP) cloud, Oracle enterprise and performance management cloud, Oracle supply chain management cloud, Oracle human capital management cloud, Oracle customer experience cloud, and NetSuite application suite.
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