Westpac Banking Corp Has $45.61 Million Stock Position in Oracle Co. (NYSE:ORCL)
Westpac Banking Corp increased its position in shares of Oracle Co. (NYSE:ORCL) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 800,532 shares of the enterprise software provider’s stock after buying an additional 20,589 shares during the quarter. Oracle comprises about 0.7% of Westpac Banking Corp’s portfolio, making the stock its 20th biggest position. Westpac Banking Corp’s holdings in Oracle were worth $45,606,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of ORCL. Norges Bank purchased a new stake in shares of Oracle in the fourth quarter worth approximately $1,235,719,000. Assenagon Asset Management S.A. raised its stake in shares of Oracle by 1,540.3% in the first quarter. Assenagon Asset Management S.A. now owns 2,380,038 shares of the enterprise software provider’s stock worth $127,832,000 after purchasing an additional 2,234,942 shares during the last quarter. PGGM Investments raised its stake in shares of Oracle by 1,064.6% in the second quarter. PGGM Investments now owns 2,258,315 shares of the enterprise software provider’s stock worth $128,656,000 after purchasing an additional 2,064,403 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Oracle by 132.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,507,235 shares of the enterprise software provider’s stock worth $199,811,000 after purchasing an additional 1,996,744 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Oracle by 35.5% in the second quarter. First Trust Advisors LP now owns 3,794,527 shares of the enterprise software provider’s stock worth $216,174,000 after purchasing an additional 993,629 shares during the last quarter. 54.23% of the stock is currently owned by institutional investors and hedge funds.
NYSE ORCL traded up $0.79 on Tuesday, hitting $54.04. 507,360 shares of the stock traded hands, compared to its average volume of 10,511,830. The stock’s fifty day simple moving average is $57.39. Oracle Co. has a 12 month low of $42.40 and a 12 month high of $60.50. The company has a market cap of $179.80 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.49 and a quick ratio of 2.49.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, July 16th. Oracle’s payout ratio is currently 30.38%.
In related news, EVP W Corey West sold 100,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $58.00, for a total value of $5,800,000.00. Following the sale, the executive vice president now owns 60,268 shares in the company, valued at $3,495,544. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Naomi O. Seligman sold 90,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $59.52, for a total value of $5,356,800.00. Following the completion of the sale, the director now owns 82,310 shares in the company, valued at approximately $4,899,091.20. The disclosure for this sale can be found here. Insiders sold 1,356,250 shares of company stock valued at $76,913,375 over the last ninety days. Corporate insiders own 32.00% of the company’s stock.
ORCL has been the subject of several analyst reports. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Wednesday, May 15th. Jefferies Financial Group upped their target price on Oracle from $61.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $59.00 target price (up from $53.00) on shares of Oracle in a report on Thursday, June 20th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.00 target price on shares of Oracle in a report on Thursday, June 20th. Finally, Morgan Stanley upped their target price on Oracle from $54.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, May 21st. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and nine have given a buy rating to the stock. Oracle has a consensus rating of “Hold” and an average target price of $54.58.
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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