Cigna Investments Inc. New grew its stake in Oracle Co. (NYSE:ORCL) by 20.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,684 shares of the enterprise software provider’s stock after acquiring an additional 11,832 shares during the quarter. Cigna Investments Inc. New’s holdings in Oracle were worth $3,320,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of ORCL. Norges Bank purchased a new stake in shares of Oracle in the fourth quarter valued at $1,083,969,000. Franklin Resources Inc. lifted its position in Oracle by 68.5% during the fourth quarter. Franklin Resources Inc. now owns 23,962,890 shares of the enterprise software provider’s stock worth $1,269,542,000 after buying an additional 9,739,302 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in Oracle by 21.7% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 14,698,021 shares of the enterprise software provider’s stock worth $778,701,000 after buying an additional 2,624,509 shares during the period. Macquarie Group Ltd. lifted its position in Oracle by 16.9% during the fourth quarter. Macquarie Group Ltd. now owns 16,536,821 shares of the enterprise software provider’s stock worth $876,120,000 after buying an additional 2,396,424 shares during the period. Finally, Sound Shore Management Inc. CT purchased a new position in Oracle during the fourth quarter worth about $113,949,000. Institutional investors and hedge funds own 50.64% of the company’s stock.
Shares of ORCL stock traded up $0.40 during trading hours on Friday, reaching $52.62. The company had a trading volume of 7,082,880 shares, compared to its average volume of 10,488,970. The company has a debt-to-equity ratio of 3.31, a quick ratio of 2.12 and a current ratio of 2.12. Oracle Co. has a twelve month low of $39.71 and a twelve month high of $60.50. The company has a market capitalization of $164.68 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.90. The stock’s fifty day simple moving average is $52.51 and its 200 day simple moving average is $52.99.
Oracle declared that its board has approved a share repurchase program on Thursday, March 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to buy up to 9.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, April 8th. This represents a $0.96 dividend on an annualized basis and a yield of 1.82%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.
In other Oracle news, Director Charles W. Moorman acquired 20,000 shares of the stock in a transaction on Thursday, March 26th. The stock was purchased at an average price of $48.59 per share, for a total transaction of $971,800.00. Following the purchase, the director now directly owns 38,561 shares in the company, valued at $1,873,678.99. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles W. Moorman bought 10,000 shares of Oracle stock in a transaction on Monday, March 23rd. The shares were purchased at an average cost of $45.23 per share, for a total transaction of $452,300.00. Following the acquisition, the director now owns 18,561 shares in the company, valued at $839,514.03. The disclosure for this purchase can be found here. 36.60% of the stock is owned by company insiders.
Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, April 21st. Cleveland Research upgraded Oracle from a “neutral” rating to a “buy” rating in a research report on Monday, March 9th. Goldman Sachs Group reiterated a “buy” rating and set a $52.00 target price on shares of Oracle in a research report on Thursday, March 26th. Exane BNP Paribas upgraded Oracle from a “neutral” rating to an “outperform” rating and set a $55.00 target price on the stock in a research report on Tuesday, March 31st. Finally, Morgan Stanley dropped their price target on Oracle from $63.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, March 16th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $53.57.
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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