Gabelli Funds LLC Has $16.50 Million Stock Position in Oracle Corporation $ORCL

Key Points

• Gabelli Funds LLC increased its stake in Oracle Corporation by 11.2% in Q1, owning 118,034 shares valued at approximately $16.5 million.
• Oracle reported earnings of $1.70 per share for the last quarter, exceeding expectations and reflecting a 11.3% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.50 per share, representing an annualized rate of $2.00 and a dividend yield of 0.9%.

Gabelli Funds LLC raised its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,034 shares of the enterprise software provider's stock after purchasing an additional 11,885 shares during the period. Gabelli Funds LLC's holdings in Oracle were worth $16,502,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. FORA Capital LLC raised its position in Oracle by 509.4% during the first quarter. FORA Capital LLC now owns 124,101 shares of the enterprise software provider's stock valued at $17,351,000 after purchasing an additional 103,736 shares in the last quarter. Causeway Capital Management LLC raised its position in Oracle by 69.2% during the first quarter. Causeway Capital Management LLC now owns 491,833 shares of the enterprise software provider's stock valued at $68,763,000 after purchasing an additional 201,220 shares in the last quarter. Harvest Portfolios Group Inc. raised its position in Oracle by 2.9% during the first quarter. Harvest Portfolios Group Inc. now owns 155,649 shares of the enterprise software provider's stock valued at $21,761,000 after purchasing an additional 4,314 shares in the last quarter. Potomac Fund Management Inc. ADV raised its position in Oracle by 35.7% during the first quarter. Potomac Fund Management Inc. ADV now owns 2,362 shares of the enterprise software provider's stock valued at $330,000 after purchasing an additional 622 shares in the last quarter. Finally, Bank of Hawaii acquired a new position in Oracle during the first quarter valued at approximately $506,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Stock Performance

Shares of Oracle stock opened at $234.57 on Wednesday. The company has a quick ratio of 0.75, a current 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. The stock has a market cap of $658.85 billion, a price-to-earnings ratio of 54.05, a P/E/G ratio of 3.51 and a beta of 1.43. The company's fifty day moving average is $236.39 and its 200 day moving average is $183.72.

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

Oracle Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on ORCL. Barclays restated an "overweight" rating and set a $221.00 price objective (up from $202.00) on shares of Oracle in a research report on Friday, June 13th. DA Davidson boosted their target price on shares of Oracle from $140.00 to $170.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. TD Cowen boosted their target price on shares of Oracle from $275.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Evercore ISI boosted 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, Westpark Capital boosted their target price on shares of Oracle from $195.00 to $246.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Oracle presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.04.

Insider Buying and Selling at Oracle

In other Oracle news, EVP Maria Smith sold 10,000 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the sale, the executive vice president 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Clayton M. Magouyrk sold 15,000 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the sale, the insider directly owned 60,722 shares in the company, valued at $13,000,580.20. This trade represents a 19.81% 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.

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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