AI Squared Management Ltd Invests $3.76 Million in Oracle Corporation (NYSE:ORCL)

Key Points

• AI Squared Management Ltd has invested approximately $3.76 million in Oracle Corporation, acquiring 26,900 shares, making it the fund's 9th largest holding.
• Oracle reported its quarterly earnings with an EPS of $1.70, exceeding estimates and showing 11.3% revenue growth compared to the previous year.
• The company has announced a quarterly dividend of $0.50, resulting in an annual yield of 0.8% and a payout ratio of 46.08%.

AI Squared Management Ltd purchased a new stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,900 shares of the enterprise software provider's stock, valued at approximately $3,761,000. Oracle accounts for 3.5% of AI Squared Management Ltd's portfolio, making the stock its 9th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new position in Oracle in the fourth quarter valued at about $30,000. Redmont Wealth Advisors LLC acquired a new stake in Oracle in the first quarter valued at approximately $27,000. Inlight Wealth Management LLC purchased a new stake in shares of Oracle during the first quarter valued at approximately $28,000. Iron Horse Wealth Management LLC lifted its position in shares of Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after purchasing an additional 151 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Oracle in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Oracle Stock Performance

NYSE:ORCL opened at $256.52 on Thursday. The company has a 50-day moving average of $219.21 and a 200-day moving average of $176.71. The firm has a market cap of $720.51 billion, a price-to-earnings ratio of 59.11, a price-to-earnings-growth ratio of 3.81 and a beta of 1.43. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $260.87.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 earnings per share. Analysts forecast that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's dividend payout ratio (DPR) is 46.08%.

Insiders Place Their Bets

In related news, EVP Maria Smith sold 10,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total transaction of $770,655.96. Following the transaction, the director owned 31,447 shares in the company, valued at approximately $7,337,214.04. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 428,303 shares of company stock valued at $82,480,056 over the last 90 days. 42.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ORCL has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on Oracle from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Raymond James Financial restated a "strong-buy" rating on shares of Oracle in a research note on Wednesday, June 18th. Westpark Capital upped their price objective on Oracle from $195.00 to $246.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. CIBC reiterated a "buy" rating on shares of Oracle in a research report on Monday, June 9th. Finally, Piper Sandler upgraded Oracle from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $190.00 to $270.00 in a report on Thursday, July 10th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Oracle presently has a consensus rating of "Moderate Buy" and a consensus target price of $222.75.

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.

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