Daiwa SB Investments Ltd. Takes $971,000 Position in Oracle Co. (ORCL)
Daiwa SB Investments Ltd. purchased a new stake in Oracle Co. (NYSE:ORCL) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 20,540 shares of the enterprise software provider’s stock, valued at approximately $971,000.
Several other institutional investors also recently modified their holdings of the stock. Sawyer & Company Inc acquired a new stake in shares of Oracle in the fourth quarter valued at approximately $2,262,000. Leavell Investment Management Inc. increased its holdings in shares of Oracle by 32.4% in the fourth quarter. Leavell Investment Management Inc. now owns 31,644 shares of the enterprise software provider’s stock valued at $1,496,000 after purchasing an additional 7,752 shares in the last quarter. LGT Capital Partners LTD. increased its holdings in shares of Oracle by 15.0% in the fourth quarter. LGT Capital Partners LTD. now owns 489,295 shares of the enterprise software provider’s stock valued at $23,134,000 after purchasing an additional 63,935 shares in the last quarter. Trust Co increased its holdings in shares of Oracle by 3.1% in the third quarter. Trust Co now owns 52,227 shares of the enterprise software provider’s stock valued at $2,525,000 after purchasing an additional 1,550 shares in the last quarter. Finally, Chesley Taft & Associates LLC increased its holdings in shares of Oracle by 1.2% in the fourth quarter. Chesley Taft & Associates LLC now owns 200,602 shares of the enterprise software provider’s stock valued at $9,484,000 after purchasing an additional 2,340 shares in the last quarter. 57.77% of the stock is owned by institutional investors and hedge funds.
Shares of Oracle Co. (NYSE:ORCL) opened at $50.71 on Monday. The company has a market cap of $209,920.00, a price-to-earnings ratio of 21.76, a P/E/G ratio of 1.93 and a beta of 1.08. Oracle Co. has a 52-week low of $41.50 and a 52-week high of $53.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04.
Oracle announced that its Board of Directors has approved a stock repurchase program 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. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $0.76 annualized dividend and a yield of 1.50%. Oracle’s dividend payout ratio is currently 32.62%.
In other Oracle news, insider Thomas Kurian sold 1,700,000 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the sale, the insider now directly owns 1,522,983 shares of the company’s stock, valued at approximately $76,590,815.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the sale, the executive vice president now directly owns 136,954 shares in the company, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders sold a total of 1,956,250 shares of company stock worth $98,316,475 over the last ninety days. 29.00% of the stock is currently owned by insiders.
A number of brokerages recently weighed in on ORCL. Oppenheimer reissued a “hold” rating on shares of Oracle in a report on Friday, December 15th. Zacks Investment Research lowered shares of Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Vetr raised shares of Oracle from a “buy” rating to a “strong-buy” rating and set a $55.49 target price for the company in a report on Monday, November 13th. Instinet began coverage on shares of Oracle in a report on Wednesday, January 24th. They set a “buy” rating and a $51.12 target price for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Oracle in a report on Sunday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.38.
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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