Atalanta Sosnoff Capital LLC Boosts Stock Position in Oracle Corporation $ORCL

Key Points

• Atalanta Sosnoff Capital LLC increased its stake in Oracle Corporation by 20% in Q1, now holding 281,115 shares worth approximately $39.3 million.
• Several large institutional investors, including Vanguard and UBS, have also raised their positions in Oracle, highlighting increased investor interest in the company.
• Oracle reported strong quarterly earnings with revenues of $15.9 billion, exceeding expectations and reflecting an 11.3% year-over-year growth.

Atalanta Sosnoff Capital LLC raised its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 20.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,115 shares of the enterprise software provider's stock after acquiring an additional 46,885 shares during the period. Atalanta Sosnoff Capital LLC's holdings in Oracle were worth $39,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ORCL. Nuveen LLC bought a new position in shares of Oracle in the 1st quarter valued at $732,692,000. GAMMA Investing LLC lifted its holdings in Oracle by 15,012.3% during the 1st quarter. GAMMA Investing LLC now owns 4,755,096 shares of the enterprise software provider's stock worth $664,810,000 after buying an additional 4,723,631 shares during the period. Vanguard Group Inc. lifted its holdings in Oracle by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider's stock worth $22,498,982,000 after buying an additional 3,513,464 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Oracle by 20.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider's stock worth $2,303,858,000 after buying an additional 2,350,448 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Oracle by 79.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,638,951 shares of the enterprise software provider's stock valued at $648,572,000 after purchasing an additional 2,049,687 shares during the period. Institutional investors own 42.44% of the company's stock.

Analysts Set New Price Targets

ORCL has been the topic of a number of research reports. Scotiabank initiated coverage on Oracle in a research note on Thursday, July 17th. They set a "sector outperform" rating and a $300.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $240.00 price objective (up from $200.00) on shares of Oracle in a report on Thursday, June 12th. Roth Capital reissued a "hold" rating on shares of Oracle in a report on Wednesday, June 18th. Jefferies Financial Group boosted their price objective on Oracle from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, UBS Group boosted their price objective on Oracle from $250.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $227.04.

Insider Buying and Selling at Oracle

In other Oracle news, EVP Maria Smith sold 10,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the completion of the transaction, the executive vice president directly owned 40,807 shares of the company's stock, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,183 shares of company stock valued at $86,521,198 in the last quarter. Insiders own 42.20% of the company's stock.

Oracle Stock Performance

Shares of ORCL stock traded up $9.87 during trading on Friday, hitting $232.87. The company's stock had a trading volume of 15,362,371 shares, compared to its average volume of 9,682,923. The company has a market cap of $654.10 billion, a PE ratio of 53.66, a P/E/G ratio of 3.33 and a beta of 1.46. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The business has a fifty day moving average of $239.38 and a 200-day moving average of $186.62. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $260.87.

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, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%.Oracle's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. As a group, research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's dividend 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.