Iron Gate Global Advisors LLC Invests $242,000 in Oracle Corporation $ORCL

Key Points

• Iron Gate Global Advisors LLC has acquired a new stake in Oracle Corporation valued at approximately $242,000 by purchasing 1,729 shares.
• Oracle reported quarterly earnings of $1.70 per share, surpassing estimates, and its revenue reached $15.90 billion, an 11.3% increase year-over-year.
• The company announced a quarterly dividend of $0.50 per share, set to be paid on October 23rd, with a dividend yield of 0.6%.

Iron Gate Global Advisors LLC purchased a new stake in Oracle Corporation (NYSE:ORCL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,729 shares of the enterprise software provider's stock, valued at approximately $242,000.

Several other large investors also recently made changes to their positions in ORCL. Vanguard Group Inc. grew its position in Oracle by 2.2% in the first 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 last quarter. Northern Trust Corp raised its holdings in Oracle by 0.6% in the 1st quarter. Northern Trust Corp now owns 19,741,423 shares of the enterprise software provider's stock worth $2,760,048,000 after acquiring an additional 120,889 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Oracle by 0.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,884,524 shares of the enterprise software provider's stock worth $1,941,195,000 after purchasing an additional 59,164 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 purchasing an additional 2,350,448 shares during the period. Finally, Amundi boosted its position in shares of Oracle by 3.3% during the 1st quarter. Amundi now owns 12,736,855 shares of the enterprise software provider's stock valued at $1,749,280,000 after acquiring an additional 409,691 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company's stock.

Insider Transactions at Oracle

In related news, EVP Maria Smith sold 10,000 shares of the company's 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 transaction, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the transaction, the insider directly owned 99,212 shares in the company, valued at $25,247,469.76. This trade represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,183 shares of company stock valued at $10,353,198. Company insiders own 42.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ORCL shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $240.00 target price (up from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Cowen reaffirmed a "buy" rating and issued a $375.00 target price on shares of Oracle in a research note on Wednesday. BNP Paribas set a $377.00 price objective on shares of Oracle in a research report on Wednesday. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Oracle in a research report on Wednesday, June 18th. Finally, Piper Sandler increased their price target on shares of Oracle from $270.00 to $330.00 and gave the company an "overweight" rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Oracle presently has a consensus rating of "Moderate Buy" and an average target price of $296.84.

Oracle Stock Down 5.1%

Shares of Oracle stock traded down $15.79 during trading on Friday, reaching $292.07. 51,618,969 shares of the company traded hands, compared to its average volume of 20,941,788. The firm has a market capitalization of $820.38 billion, a PE ratio of 67.61, a P/E/G ratio of 4.10 and a beta of 1.46. The company has a 50 day moving average price of $244.69 and a 200-day moving average price of $190.50. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.75. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $345.72.

Oracle (NYSE:ORCL - Get Free Report) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The firm had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The business's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. As a group, equities research analysts expect that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. Oracle's dividend payout ratio is presently 46.30%.

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.