3,258 Shares in Oracle Corporation (NYSE:ORCL) Bought by Costello Asset Management INC

Key Points

• Costello Asset Management INC has invested approximately $455,000 in Oracle Corporation by purchasing 3,258 shares during the first quarter, indicating growing institutional interest in the stock.
• Several research firms have raised their price targets for Oracle, with Citigroup upgrading to a "strong-buy" rating and analysts setting a consensus target price of $218.29.
• Oracle recently announced a quarterly dividend of $0.50 per share, which reflects an annual yield of 0.8% and a payout ratio of 46.08%.

Costello Asset Management INC acquired a new position in Oracle Corporation (NYSE:ORCL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,258 shares of the enterprise software provider's stock, valued at approximately $455,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in Oracle during the first quarter worth $27,000. Inlight Wealth Management LLC bought a new position in shares of Oracle during the 1st quarter worth about $28,000. Iron Horse Wealth Management LLC raised 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 valued at $29,000 after buying an additional 151 shares during the last quarter. Sunbeam Capital Management LLC bought a new stake in shares of Oracle in the fourth quarter valued at about $30,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Oracle during the fourth quarter worth about $36,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Oracle

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the transaction, the insider owned 1,097,576 shares in the company, valued at $209,000,421.92. The trade was a 26.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction 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 sale, the director directly owned 31,447 shares of the company's stock, valued at approximately $7,337,214.04. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 444,183 shares of company stock valued at $86,521,198 over the last three months. 42.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. CIBC reiterated a "buy" rating on shares of Oracle in a research report on Monday, June 9th. Mizuho decreased their price target on shares of Oracle from $210.00 to $180.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. TD Cowen increased their price objective on shares of Oracle from $275.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday. Bank of America lifted their target price on shares of Oracle from $220.00 to $295.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Loop Capital set a $135.00 price target on shares of Oracle in a research report on Tuesday, June 10th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Oracle presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.75.

Oracle Trading Up 0.3%

Shares of NYSE:ORCL traded up $0.64 during midday trading on Friday, hitting $250.03. 5,778,758 shares of the stock were exchanged, compared to its average volume of 12,026,317. The business's 50-day moving average price is $220.94 and its 200 day moving average price is $177.32. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $260.87. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $702.29 billion, a price-to-earnings ratio of 57.54, a P/E/G ratio of 3.83 and a beta of 1.43.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly 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 firm had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 earnings per share. Analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

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