Meitav Dash Investments Ltd. reduced its stake in shares of Oracle Co. (NYSE:ORCL) by 32.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of ORCL. First National Bank of South Miami grew its holdings in shares of Oracle by 104.6% in the 4th quarter. First National Bank of South Miami now owns 489 shares of the enterprise software provider’s stock worth $26,000 after purchasing an additional 250 shares during the last quarter. Lloyd Advisory Services LLC. bought a new position in Oracle during the 4th quarter valued at about $26,000. Samalin Investment Counsel LLC acquired a new position in Oracle in the fourth quarter valued at about $27,000. Solstein Capital LLC bought a new stake in Oracle during the fourth quarter worth about $33,000. Finally, ERTS Wealth Advisors LLC acquired a new stake in shares of Oracle during the fourth quarter worth approximately $36,000. 50.64% of the stock is owned by institutional investors.
Shares of Oracle stock traded up $0.40 on Friday, hitting $52.62. 7,082,880 shares of the company’s stock traded hands, compared to its average volume of 10,488,970. The firm’s 50-day moving average price is $52.51 and its two-hundred day moving average price is $52.99. The company has a debt-to-equity ratio of 3.31, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market capitalization of $164.68 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.90. Oracle Co. has a one year low of $39.71 and a one year high of $60.50.
Oracle announced that its Board of Directors has approved a stock repurchase program 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 repurchase up to 9.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 9th were paid a $0.24 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.82%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.
In related news, CEO Safra Catz sold 1,000,000 shares of the firm’s 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 sale, the chief executive officer now owns 2,368,592 shares of the company’s stock, valued at approximately $122,527,264.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles W. Moorman bought 20,000 shares of Oracle stock in a transaction on Thursday, March 26th. The shares were acquired at an average price of $48.59 per share, for a total transaction of $971,800.00. Following the completion of the acquisition, the director now owns 38,561 shares of the company’s stock, valued at approximately $1,873,678.99. The disclosure for this purchase can be found here. Corporate insiders own 36.60% of the company’s stock.
A number of equities research analysts recently commented on ORCL shares. Cleveland Research upgraded Oracle from a “neutral” rating to a “buy” rating in a research report on Monday, March 9th. 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 report on Tuesday, April 21st. Societe Generale upgraded Oracle from a “hold” rating to a “buy” rating and lowered their target price for the company from $62.00 to $61.00 in a research note on Wednesday, March 4th. Credit Suisse Group set a $57.00 price target on shares of Oracle and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, BMO Capital Markets lowered their price objective on shares of Oracle from $62.00 to $46.00 and set a “market perform” rating for the company in a research report on Friday, March 13th. One 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. Oracle 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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