Ascent Group LLC Boosts Stake in Oracle Corporation $ORCL

Key Points

• Ascent Group LLC increased its stake in Oracle Corporation by 110.0%, owning 32,607 shares worth approximately $4.56 million after acquiring an additional 17,082 shares in the first quarter.
• Oracle reported earnings per share of $1.70 for the most recent quarter, exceeding analyst expectations of $1.64, along with a revenue of $15.90 billion.
• Oracle recently declared a quarterly dividend of $0.50, resulting in an annualized dividend yield of 0.9% and a payout ratio of 46.08%.

Ascent Group LLC lifted its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 110.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,607 shares of the enterprise software provider's stock after buying an additional 17,082 shares during the period. Ascent Group LLC's holdings in Oracle were worth $4,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ORCL. Redmont Wealth Advisors LLC purchased a new position in shares of Oracle in the first quarter worth about $27,000. Inlight Wealth Management LLC purchased a new position in shares of Oracle in the first quarter worth about $28,000. Iron Horse Wealth Management LLC lifted its stake in shares of Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after buying an additional 151 shares in the last quarter. Sunbeam Capital Management LLC purchased a new position in shares of Oracle in the fourth quarter worth about $30,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Oracle in the fourth quarter worth about $36,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Price Performance

Shares of ORCL opened at $232.87 on Monday. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $260.87. The stock has a market cap of $654.10 billion, a PE ratio of 53.66, a P/E/G ratio of 3.47 and a beta of 1.46. The firm has a 50-day simple moving average of $239.38 and a two-hundred day simple moving average of $186.73. 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 announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. The firm had revenue of $15.90 billion during 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 business'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. As a group, analysts forecast that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were issued a $0.50 dividend. 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%.

Insider Transactions at Oracle

In related news, EVP Maria Smith sold 10,000 shares of Oracle 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 transaction, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the completion of the transaction, the insider owned 99,212 shares of the company's stock, valued at $25,247,469.76. This trade represents a 13.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 444,183 shares of company stock valued at $86,521,198. 42.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ORCL. Citigroup raised shares of Oracle from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 18th. Bank of America lifted their target price on shares of Oracle from $220.00 to $295.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. CIBC reaffirmed a "buy" rating on shares of Oracle in a research note on Monday, June 9th. Evercore ISI lifted their target price on shares of Oracle from $215.00 to $270.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $195.00 target price (up from $145.00) on shares of Oracle in a research note on Friday, June 13th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Oracle has a consensus rating of "Moderate Buy" and a consensus price target of $229.18.

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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