Prudential Financial Inc. Sells 1,895,833 Shares of Oracle Co. (ORCL) – Fairfield Current
Prudential Financial Inc. lessened its stake in shares of Oracle Co. (NYSE:ORCL) by 26.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). Wells Fargo & Co lowered their price objective on Oracle from $62.50 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 18th. The business had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.26 billion. Oracle had a return on equity of 25.60% and a net margin of 9.74%. Oracle’s quarterly revenue was up .8% compared to the same quarter last year. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. Oracle’s dividend payout ratio is currently 26.95%. Oracle declared that its Board of Directors has approved a stock buyback program on Monday, September 17th that authorizes the company to buyback $12.00 billion in outstanding shares.