Meitav Dash Investments Ltd. reduced its position in Oracle Co. (NYSE:ORCL) by 32.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 29,438 shares of the enterprise software provider’s stock after selling 14,347 shares during the quarter. Meitav Dash Investments Ltd.’s holdings in Oracle were worth $1,427,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Loomis Sayles & Co. L P increased its stake in shares of Oracle by 3.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 39,048,373 shares of the enterprise software provider’s stock valued at $2,068,783,000 after purchasing an additional 1,378,211 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Oracle by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 34,159,820 shares of the enterprise software provider’s stock valued at $1,650,944,000 after buying an additional 237,469 shares in the last quarter. Franklin Resources Inc. grew its position in Oracle by 68.5% in the fourth quarter. Franklin Resources Inc. now owns 23,962,890 shares of the enterprise software provider’s stock valued at $1,269,542,000 after acquiring an additional 9,739,302 shares during the last quarter. Longview Partners Guernsey LTD raised its stake in Oracle by 1.5% during the fourth quarter. Longview Partners Guernsey LTD now owns 22,608,727 shares of the enterprise software provider’s stock worth $1,197,810,000 after acquiring an additional 326,268 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Oracle in the fourth quarter worth about $1,083,969,000. Institutional investors own 50.64% of the company’s stock.
A number of equities analysts recently issued reports on ORCL shares. Exane BNP Paribas upgraded shares of Oracle from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a research report on Tuesday, March 31st. Wells Fargo & Co decreased their target price on shares of Oracle from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. Raymond James dropped their price target on Oracle from $61.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, March 13th. BNP Paribas upgraded Oracle from a “neutral” rating to an “outperform” rating and set a $55.00 price objective on the stock in a research report on Tuesday, March 31st. Finally, Credit Suisse Group set a $57.00 target price on Oracle and gave the stock a “buy” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.57.
Oracle (NYSE:ORCL) last announced its earnings results on Thursday, March 12th. The enterprise software provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $9.80 billion during the quarter, compared to the consensus estimate of $9.75 billion. Oracle had a net margin of 27.06% and a return on equity of 64.68%. Oracle’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. Equities analysts forecast that Oracle Co. will post 3.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 9th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Wednesday, April 8th. Oracle’s dividend payout ratio is 30.38%.
Oracle declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to reacquire up to 9.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
In related news, Director Charles W. Moorman bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 26th. The shares were bought at an average price of $48.59 per share, for a total transaction of $971,800.00. Following the transaction, the director now directly owns 38,561 shares of the company’s stock, valued at $1,873,678.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Safra Catz sold 1,000,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $51.73, for a total transaction of $51,730,000.00. Following the transaction, the chief executive officer now directly owns 2,368,592 shares in the company, valued at $122,527,264.16. The disclosure for this sale can be found here. 36.60% of the stock is owned by insiders.
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.
Further Reading: Does the discount rate affect the economy?
Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Co. (NYSE:ORCL).
Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.