Yacktman Asset Management LP Has $481.82 Million Stock Position in Oracle Co. (NYSE:ORCL)

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Yacktman Asset Management LP trimmed its position in Oracle Co. (NYSE:ORCL) by 10.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,457,482 shares of the enterprise software provider’s stock after selling 1,008,476 shares during the period. Oracle comprises 5.8% of Yacktman Asset Management LP’s investment portfolio, making the stock its 6th biggest position. Yacktman Asset Management LP owned approximately 0.25% of Oracle worth $481,823,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Evolution Wealth Advisors LLC grew its position in shares of Oracle by 346.0% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock valued at $25,000 after acquiring an additional 346 shares during the period. Investors Research Corp bought a new position in Oracle in the 1st quarter worth approximately $30,000. Covenant Multifamily Offices LLC bought a new position in Oracle in the 1st quarter worth approximately $35,000. Next Capital Management LLC bought a new position in Oracle in the 2nd quarter worth approximately $36,000. Finally, Clarfeld Financial Advisors LLC bought a new position in Oracle in the 4th quarter worth approximately $39,000. 54.23% of the stock is owned by institutional investors and hedge funds.

NYSE ORCL traded up $0.93 on Friday, hitting $53.53. The stock had a trading volume of 5,870,566 shares, compared to its average volume of 10,384,910. Oracle Co. has a 52-week low of $42.40 and a 52-week high of $60.50. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.49 and a current ratio of 2.49. The company has a market capitalization of $180.03 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15. The firm has a 50-day moving average of $57.17 and a 200-day moving average of $54.29.

Oracle (NYSE:ORCL) last posted its earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.18. The business had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $10.93 billion. Oracle had a net margin of 28.06% and a return on equity of 40.95%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. As a group, research analysts anticipate that Oracle Co. will post 3.5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, July 16th. Oracle’s dividend payout ratio (DPR) is currently 30.38%.

ORCL has been the subject of several analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $54.00 price objective on shares of Oracle in a report on Friday, June 14th. Wedbush reaffirmed a “neutral” rating and issued a $55.00 price objective (down from $55.92) on shares of Oracle in a report on Thursday, June 20th. Raymond James raised their price objective on shares of Oracle from $57.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Wells Fargo & Co raised their price objective on shares of Oracle from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, Macquarie downgraded shares of Oracle from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $56.00 to $55.00 in a report on Tuesday, June 18th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $54.76.

In other news, CAO W Corey West sold 50,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $56.25, for a total transaction of $2,812,500.00. Following the sale, the chief accounting officer now owns 85,348 shares in the company, valued at approximately $4,800,825. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark V. Hurd sold 787,500 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $56.29, for a total transaction of $44,328,375.00. Following the sale, the chief executive officer now owns 874,871 shares in the company, valued at approximately $49,246,488.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,352,500 shares of company stock worth $76,708,925. Corporate insiders own 32.00% of the company’s stock.

Oracle 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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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