Chartwell Investment Partners LLC Has $6.17 Million Stake in Oracle Co. (ORCL)
Chartwell Investment Partners LLC trimmed its position in Oracle Co. (NYSE:ORCL) by 4.1% in the third quarter, Holdings Channel reports. The institutional investor owned 127,700 shares of the enterprise software provider’s stock after selling 5,500 shares during the period. Chartwell Investment Partners LLC’s holdings in Oracle were worth $6,173,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the stock. Keel Point LLC raised its stake in Oracle by 0.3% during the 2nd quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock valued at $268,000 after purchasing an additional 14 shares during the last quarter. Joel Isaacson & Co. LLC increased its holdings in Oracle by 0.3% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock valued at $411,000 after buying an additional 24 shares during the period. Flagship Harbor Advisors LLC increased its holdings in Oracle by 0.4% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock valued at $404,000 after buying an additional 35 shares during the period. Partnervest Advisory Services LLC increased its holdings in Oracle by 0.6% in the 2nd quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after buying an additional 39 shares during the period. Finally, Klingenstein Fields & Co. LLC increased its holdings in Oracle by 0.9% in the 2nd quarter. Klingenstein Fields & Co. LLC now owns 6,679 shares of the enterprise software provider’s stock valued at $335,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 57.89% of the company’s stock.
Oracle Co. (NYSE ORCL) opened at $50.58 on Monday. The stock has a market cap of $211,090.00, a PE ratio of 21.71, a P/E/G ratio of 1.93 and a beta of 1.05. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. Oracle Co. has a 52-week low of $39.43 and a 52-week high of $53.14.
Oracle declared that its board has initiated a share repurchase plan on Thursday, December 14th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 annualized dividend and a yield of 1.50%. Oracle’s dividend payout ratio (DPR) is 32.62%.
In related news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the transaction, the executive vice president now owns 136,954 shares in the company, valued at approximately $6,517,640.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total transaction of $183,112.50. Following the transaction, the director now owns 18,125 shares in the company, valued at approximately $885,043.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,811,250 shares of company stock worth $90,803,063. 29.00% of the stock is owned by corporate insiders.
Several equities research analysts have issued reports on the stock. Vetr lowered shares of Oracle from a “buy” rating to a “hold” rating and set a $51.82 price target on the stock. in a report on Wednesday, January 17th. Morgan Stanley raised shares of Oracle from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $46.63 to $47.71 in a report on Wednesday, January 3rd. Drexel Hamilton reissued a “buy” rating and issued a $62.00 price target on shares of Oracle in a report on Tuesday, January 2nd. ValuEngine raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research lowered shares of Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $55.27.
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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