Family Legacy Inc. Sells 11,474 Shares of Oracle Co. (ORCL)
Family Legacy Inc. lessened its position in Oracle Co. (NYSE:ORCL) by 36.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,000 shares of the enterprise software provider’s stock after selling 11,474 shares during the quarter. Oracle makes up about 2.5% of Family Legacy Inc.’s portfolio, making the stock its 22nd biggest position. Family Legacy Inc.’s holdings in Oracle were worth $968,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in ORCL. Vanguard Group Inc. increased its position in shares of Oracle by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after purchasing an additional 5,270,359 shares during the last quarter. BlackRock Inc. increased its position in shares of Oracle by 2.5% during the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock worth $9,716,707,000 after purchasing an additional 4,678,977 shares during the last quarter. Harris Associates L P increased its position in shares of Oracle by 17.9% during the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after purchasing an additional 7,427,501 shares during the last quarter. Northern Trust Corp increased its position in shares of Oracle by 4.6% during the 2nd quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock worth $2,110,799,000 after purchasing an additional 1,835,835 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Oracle by 1.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 41,717,395 shares of the enterprise software provider’s stock worth $2,091,710,000 after purchasing an additional 482,220 shares during the last quarter. 57.77% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on ORCL. Instinet began coverage on Oracle in a research report on Wednesday, January 24th. They set a “buy” rating and a $51.12 price target on the stock. ValuEngine raised Oracle from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Vetr raised Oracle from a “hold” rating to a “strong-buy” rating and set a $60.60 price target on the stock in a research report on Thursday, November 2nd. Nomura initiated coverage on Oracle in a report on Tuesday, January 23rd. They set a “buy” rating and a $64.00 target price on the stock. Finally, Zacks Investment Research raised Oracle from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.39.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. equities analysts predict that Oracle Co. will post 2.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th were paid a $0.19 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $0.76 annualized dividend and a yield of 1.58%. Oracle’s dividend payout ratio (DPR) is presently 32.62%.
Oracle announced that its board has authorized a share repurchase plan on Thursday, December 14th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total transaction of $183,112.50. Following the completion of the sale, the director now directly owns 18,125 shares in the company, valued at approximately $885,043.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas Kurian sold 1,700,000 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $50.29, for a total value of $85,493,000.00. Following the sale, the insider now owns 1,522,983 shares of the company’s stock, valued at $76,590,815.07. The disclosure for this sale can be found here. Insiders sold a total of 1,956,250 shares of company stock valued at $98,313,363 over the last 90 days. 29.00% of the stock is currently owned by corporate insiders.
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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