Alliancebernstein L.P. Has $1.01 Billion Stock Position in Oracle Corporation $ORCL

Key Points

• AllianceBernstein L.P. sold 525,920 shares of Oracle Corporation, reducing its stake by 6.8% and holding approximately 7.19 million shares valued at over $1 billion post-sale.
• Oracle reported strong earnings with $1.70 EPS, exceeding analysts' expectations, along with a revenue of $15.90 billion, marking an 11.3% year-over-year increase.
• A quarterly dividend of $0.50 per share was recently announced, translating to an annualized dividend of $2.00 and a yield of 0.9%, with a payout ratio of 46.08%.

Alliancebernstein L.P. lessened its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,195,543 shares of the enterprise software provider's stock after selling 525,920 shares during the period. Alliancebernstein L.P. owned about 0.26% of Oracle worth $1,006,009,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC bought a new position in Oracle during the first quarter worth about $732,692,000. GAMMA Investing LLC lifted its stake in Oracle by 15,012.3% during the first quarter. GAMMA Investing LLC now owns 4,755,096 shares of the enterprise software provider's stock worth $664,810,000 after purchasing an additional 4,723,631 shares during the period. Vanguard Group Inc. lifted its stake in Oracle by 2.2% during the first quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider's stock worth $22,498,982,000 after purchasing an additional 3,513,464 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Oracle by 20.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider's stock worth $2,303,858,000 after purchasing an additional 2,350,448 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Oracle by 79.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,638,951 shares of the enterprise software provider's stock worth $648,572,000 after purchasing an additional 2,049,687 shares during the period. Institutional investors own 42.44% of the company's stock.

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of research reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $195.00 price target (up previously from $145.00) on shares of Oracle in a report on Friday, June 13th. JMP Securities raised their price target on shares of Oracle from $240.00 to $315.00 and gave the company a "market outperform" rating in a report on Friday, July 18th. Oppenheimer reaffirmed an "outperform" rating on shares of Oracle in a research note on Wednesday, June 18th. Guggenheim raised their price objective on shares of Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Oracle in a research note on Wednesday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, Oracle presently has an average rating of "Moderate Buy" and an average price target of $227.04.

Insider Transactions at Oracle

In other Oracle news, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the sale, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the sale, the insider owned 60,722 shares in the company, valued at $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 444,183 shares of company stock worth $86,521,198. 42.20% of the stock is owned by insiders.

Oracle Trading Up 4.4%

Shares of NYSE ORCL traded up $9.87 during midday trading on Friday, reaching $232.87. 15,362,371 shares of the stock were exchanged, compared to its average volume of 9,682,923. The company has a market capitalization of $654.10 billion, a price-to-earnings ratio of 53.66, a P/E/G ratio of 3.33 and a beta of 1.46. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $260.87. The business has a 50-day simple moving average of $239.38 and a two-hundred day simple moving average of $186.62. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm's revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 EPS. As a group, equities research analysts expect that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's payout ratio is currently 46.08%.

Oracle Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.