Institute for Wealth Management LLC. lowered its position in shares of Oracle Co. (NYSE:ORCL) by 9.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,040 shares of the enterprise software provider's stock after selling 2,024 shares during the period. Institute for Wealth Management LLC.'s holdings in Oracle were worth $1,048,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ORCL. Evolution Wealth Advisors LLC grew its position in Oracle by 346.0% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider's stock worth $25,000 after acquiring an additional 346 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in Oracle during the 3rd quarter worth $28,000. Winthrop Partners WNY LLC bought a new stake in shares of Oracle in the 3rd quarter valued at about $30,000. C J Advisory Inc bought a new stake in shares of Oracle in the 3rd quarter valued at about $31,000. Finally, Next Capital Management LLC bought a new stake in shares of Oracle in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 53.81% of the company's stock.
A number of research firms have commented on ORCL. Credit Suisse Group set a $62.00 price target on Oracle and gave the company a "buy" rating in a research report on Tuesday, September 24th. Wedbush reiterated a "neutral" rating and issued a $55.00 price target on shares of Oracle in a research report on Friday, September 13th. Stifel Nicolaus reiterated a "hold" rating on shares of Oracle in a research report on Thursday, September 12th. William Blair reiterated a "hold" rating on shares of Oracle in a research report on Thursday, September 12th. Finally, Monness Crespi & Hardt reiterated a "hold" rating on shares of Oracle in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. Oracle has a consensus rating of "Hold" and a consensus price target of $56.38.
In related news, Director Hector Garcia-Molina sold 4,643 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $56.59, for a total transaction of $262,747.37. Following the transaction, the director now directly owns 38,562 shares of the company's stock, valued at approximately $2,182,223.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Dorian Daley sold 50,000 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.01, for a total value of $2,750,500.00. Following the transaction, the executive vice president now directly owns 50,000 shares in the company, valued at $2,750,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 849,786 shares of company stock worth $44,213,156. 36.60% of the stock is owned by company insiders.
Shares of NYSE:ORCL traded up $0.47 during midday trading on Monday, reaching $54.64. The company's stock had a trading volume of 6,969,994 shares, compared to its average volume of 13,686,500. The firm has a market capitalization of $178.11 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.61 and a beta of 1.16. The company has a debt-to-equity ratio of 2.67, a quick ratio of 2.25 and a current ratio of 2.25. The firm has a 50 day moving average price of $54.39 and a two-hundred day moving average price of $54.76. Oracle Co. has a fifty-two week low of $42.40 and a fifty-two week high of $60.50.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.09. The company had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.29 billion. Oracle had a return on equity of 48.85% and a net margin of 27.71%. The firm's revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. As a group, research analysts anticipate that Oracle Co. will post 3.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Wednesday, October 9th. Oracle's dividend payout ratio (DPR) is currently 30.38%.
Oracle announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 11th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to purchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.
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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