Oracle Co. (NYSE:ORCL) Holdings Boosted by Magellan Asset Management Ltd

Magellan Asset Management Ltd boosted its holdings in Oracle Co. (NYSE:ORCL) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,663,584 shares of the enterprise software provider’s stock after acquiring an additional 85,349 shares during the period. Oracle comprises about 4.3% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 14th biggest holding. Magellan Asset Management Ltd owned about 0.67% of Oracle worth $1,218,858,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ORCL. Hammer Asset Management LLC purchased a new position in Oracle during the 2nd quarter worth approximately $2,502,000. First Republic Investment Management Inc. boosted its stake in shares of Oracle by 12.0% during the 2nd quarter. First Republic Investment Management Inc. now owns 1,586,814 shares of the enterprise software provider’s stock valued at $69,915,000 after buying an additional 169,475 shares during the period. Lcnb Corp boosted its stake in shares of Oracle by 36.4% during the 2nd quarter. Lcnb Corp now owns 16,314 shares of the enterprise software provider’s stock valued at $719,000 after buying an additional 4,356 shares during the period. Tocqueville Asset Management L.P. boosted its stake in shares of Oracle by 5.7% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 528,824 shares of the enterprise software provider’s stock valued at $23,300,000 after buying an additional 28,514 shares during the period. Finally, BB&T Securities LLC boosted its stake in shares of Oracle by 2.3% during the 2nd quarter. BB&T Securities LLC now owns 1,008,066 shares of the enterprise software provider’s stock valued at $44,415,000 after buying an additional 22,957 shares during the period. 53.43% of the stock is currently owned by hedge funds and other institutional investors.

NYSE ORCL opened at $49.36 on Tuesday. The stock has a market capitalization of $213.44 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. Oracle Co. has a twelve month low of $42.57 and a twelve month high of $53.48. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 1.41.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. As a group, research analysts anticipate that Oracle Co. will post 3.07 earnings per share for the current fiscal year.

Oracle announced that its Board of Directors has initiated a stock buyback program on Monday, September 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, October 15th. This represents a $0.76 annualized dividend and a yield of 1.54%. Oracle’s dividend payout ratio is 26.95%.

In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $47.77, for a total value of $179,137.50. Following the completion of the sale, the director now owns 27,969 shares of the company’s stock, valued at $1,336,079.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Naomi O. Seligman sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $48.09, for a total transaction of $2,164,050.00. Following the completion of the sale, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,345,029.21. The disclosure for this sale can be found here. Insiders sold 184,196 shares of company stock worth $9,235,790 over the last 90 days. 32.00% of the stock is currently owned by company insiders.

ORCL has been the subject of a number of research reports. UBS Group reissued a “neutral” rating and set a $53.00 target price on shares of Oracle in a research note on Tuesday, June 12th. JPMorgan Chase & Co. lowered shares of Oracle from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $55.00 to $53.00 in a research note on Thursday, June 14th. Nomura reduced their price objective on shares of Oracle from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, June 14th. KeyCorp reaffirmed a “hold” rating on shares of Oracle in a research note on Friday, June 15th. Finally, Credit Suisse Group set a $60.00 price objective on shares of Oracle and gave the company a “buy” rating in a research note on Monday, June 18th. Sixteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $53.88.

About Oracle

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.

Further Reading: What is the balance sheet?

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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