Hancock Whitney Corp lessened its holdings in Oracle Co. (NYSE:ORCL) by 45.4% during the first quarter, Holdings Channel.com reports. The firm owned 37,974 shares of the enterprise software provider’s stock after selling 31,517 shares during the quarter. Hancock Whitney Corp’s holdings in Oracle were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in ORCL. Campbell & CO Investment Adviser LLC raised its position in shares of Oracle by 190.0% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 14,116 shares of the enterprise software provider’s stock worth $748,000 after purchasing an additional 9,249 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Oracle during the 4th quarter valued at $724,000. Signet Financial Management LLC grew its stake in shares of Oracle by 1.1% during the 4th quarter. Signet Financial Management LLC now owns 17,964 shares of the enterprise software provider’s stock valued at $952,000 after buying an additional 200 shares during the period. Breiter Capital Management Inc. boosted its position in Oracle by 1.4% during the 4th quarter. Breiter Capital Management Inc. now owns 17,632 shares of the enterprise software provider’s stock worth $934,000 after purchasing an additional 239 shares during the period. Finally, Hollencrest Capital Management boosted its position in Oracle by 1.5% during the 4th quarter. Hollencrest Capital Management now owns 50,920 shares of the enterprise software provider’s stock worth $2,697,000 after purchasing an additional 753 shares during the period. 50.64% of the stock is currently owned by institutional investors.
In related news, CEO Safra Catz sold 1,000,000 shares of Oracle stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $51.73, for a total value of $51,730,000.00. Following the completion of the sale, the chief executive officer now owns 2,368,592 shares of the company’s stock, valued at approximately $122,527,264.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles W. Moorman purchased 20,000 shares of Oracle stock in a transaction that occurred on Thursday, March 26th. The stock was acquired at an average cost of $48.59 per share, with a total value of $971,800.00. Following the transaction, the director now owns 38,561 shares in the company, valued at approximately $1,873,678.99. The disclosure for this purchase can be found here. 36.60% of the stock is owned by company insiders.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, March 12th. The enterprise software provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.01. Oracle had a net margin of 27.06% and a return on equity of 64.68%. The company had revenue of $9.80 billion for the quarter, compared to analyst estimates of $9.75 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Analysts predict that Oracle Co. will post 3.47 earnings per share for the current fiscal year.
Oracle announced that its board has initiated a stock repurchase plan on Thursday, March 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the enterprise software provider to reacquire up to 9.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 9th were issued a $0.24 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $0.96 dividend on an annualized basis and a yield of 1.82%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.
A number of equities analysts have weighed in on ORCL shares. Barclays reissued a “neutral” rating and issued a $50.00 price objective on shares of Oracle in a research report on Friday, March 13th. Raymond James dropped their price objective on shares of Oracle from $61.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, March 13th. BMO Capital Markets dropped their price target on shares of Oracle from $62.00 to $46.00 and set a “market perform” rating on the stock in a research note on Friday, March 13th. Sanford C. Bernstein restated a “buy” rating and issued a $58.00 price target on shares of Oracle in a research note on Friday, March 13th. Finally, Societe Generale upgraded shares of Oracle from a “hold” rating to a “buy” rating and decreased their price objective for the company from $62.00 to $61.00 in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the stock. Oracle has a consensus rating of “Hold” and a consensus target price of $53.57.
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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