Allstate Corp Acquires 9,193 Shares of Oracle Corporation $ORCL

Key Points

• Allstate Corp acquired 9,193 additional shares of Oracle Corporation, raising its total holdings to 58,588 shares, worth approximately $8.19 million.
• Analysts have recently raised their price targets for Oracle, with Evercore ISI increasing theirs from $215 to $270, reflecting overall positive sentiment towards the stock.
• Oracle declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend of $2.00, equating to a yield of 0.9% as of the latest reporting.

Allstate Corp raised its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,588 shares of the enterprise software provider's stock after purchasing an additional 9,193 shares during the period. Allstate Corp's holdings in Oracle were worth $8,191,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ORCL. Gitterman Wealth Management LLC bought a new stake in shares of Oracle in the 1st quarter valued at about $248,000. Mccarter Private Wealth Services LLC grew its holdings in Oracle by 15.7% during the first quarter. Mccarter Private Wealth Services LLC now owns 4,235 shares of the enterprise software provider's stock valued at $592,000 after purchasing an additional 575 shares during the period. Compound Planning Inc. grew its holdings in Oracle by 5.0% during the 1st quarter. Compound Planning Inc. now owns 17,751 shares of the enterprise software provider's stock valued at $2,482,000 after buying an additional 848 shares in the last quarter. Monetary Management Group Inc. raised its holdings in shares of Oracle by 9.3% during the 1st quarter. Monetary Management Group Inc. now owns 24,355 shares of the enterprise software provider's stock worth $3,405,000 after acquiring an additional 2,070 shares in the last quarter. Finally, Barnes Wealth Management Group Inc boosted its holdings in Oracle by 4.5% during the 1st quarter. Barnes Wealth Management Group Inc now owns 2,069 shares of the enterprise software provider's stock valued at $289,000 after acquiring an additional 90 shares during the period. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ORCL shares. Evercore ISI boosted their price target on Oracle from $215.00 to $270.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. UBS Group boosted their price target on shares of Oracle from $250.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. BMO Capital Markets lifted their price target on shares of Oracle from $235.00 to $245.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Stifel Nicolaus raised shares of Oracle from a "hold" rating to a "buy" rating and raised their price objective for the stock from $180.00 to $250.00 in a research report on Monday, June 30th. Finally, JPMorgan Chase & Co. boosted their target price on Oracle from $135.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.04.

Insider Buying and Selling

In related news, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider directly owned 60,722 shares of the company's stock, valued at $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total transaction of $770,655.96. Following the completion of the transaction, the director owned 31,447 shares in the company, valued at $7,337,214.04. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 444,183 shares of company stock worth $86,521,198. 42.20% of the stock is currently owned by corporate insiders.

Oracle Stock Performance

ORCL stock opened at $233.0010 on Friday. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $260.87. The stock's fifty day moving average is $234.95 and its two-hundred day moving average is $182.32. The stock has a market capitalization of $654.46 billion, a price-to-earnings ratio of 53.69, a PEG ratio of 3.51 and a beta of 1.43.

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

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.9%. Oracle's payout ratio is 46.08%.

Oracle Company 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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