Woodmont Investment Counsel LLC Purchases 1,083 Shares of Oracle Co. (NYSE:ORCL)
Woodmont Investment Counsel LLC boosted its stake in shares of Oracle Co. (NYSE:ORCL) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,637 shares of the enterprise software provider’s stock after buying an additional 1,083 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Oracle were worth $1,290,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Assetmark Inc. grew its position in Oracle by 1.0% during the second quarter. Assetmark Inc. now owns 25,276 shares of the enterprise software provider’s stock valued at $1,440,000 after buying an additional 254 shares during the period. Algert Global LLC bought a new position in Oracle during the second quarter valued at about $1,092,000. Gladstone Institutional Advisory LLC purchased a new stake in Oracle during the second quarter valued at about $295,000. Private Portfolio Partners LLC lifted its holdings in Oracle by 102.4% during the second quarter. Private Portfolio Partners LLC now owns 7,938 shares of the enterprise software provider’s stock valued at $452,000 after purchasing an additional 4,017 shares during the last quarter. Finally, Putnam Investments LLC lifted its holdings in Oracle by 1.1% during the second quarter. Putnam Investments LLC now owns 2,526,644 shares of the enterprise software provider’s stock valued at $143,943,000 after purchasing an additional 28,412 shares during the last quarter. Institutional investors own 53.05% of the company’s stock.
Several research firms have commented on ORCL. KeyCorp reaffirmed a “hold” rating on shares of Oracle in a report on Thursday, June 20th. Macquarie reaffirmed a “hold” rating on shares of Oracle in a report on Thursday, September 12th. Jefferies Financial Group set a $66.00 price objective on shares of Oracle and gave the company a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. set a $56.00 price objective on shares of Oracle and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Argus reaffirmed a “buy” rating on shares of Oracle in a report on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have issued a buy rating to the company. Oracle has a consensus rating of “Hold” and a consensus price target of $55.88.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 45.61%. The firm had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts anticipate that Oracle Co. will post 3.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Wednesday, October 9th. Oracle’s payout ratio is 30.38%.
Oracle announced that its Board of Directors has authorized a share repurchase plan on Wednesday, September 11th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $56.92, for a total value of $5,692,000.00. Following the sale, the executive vice president now directly owns 177,919 shares of the company’s stock, valued at $10,127,149.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Boskin sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $56.65, for a total transaction of $8,497,500.00. Following the completion of the sale, the director now directly owns 134,796 shares in the company, valued at $7,636,193.40. The disclosure for this sale can be found here. Insiders sold 2,144,643 shares of company stock worth $117,748,154 over the last ninety days. 32.00% of the stock is currently 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.
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