MFG Wealth Management Inc. Buys 4,883 Shares of Oracle Corporation $ORCL

Key Points

• MFG Wealth Management Inc. has increased its stake in Oracle Corporation by 42.3%, acquiring an additional 4,883 shares during the second quarter, bringing its total holdings to 16,417 shares valued at approximately $3.59 million.
• Oracle announced a quarterly dividend of $0.50, payable on October 23rd, offering an annualized yield of 0.7% and a payout ratio of 46.30%.
• Analysts have set new price targets for Oracle, with BMO Capital Markets forecasting a target price of $345.00, while consensus estimates suggest an average target price of $303.44 for the stock.

MFG Wealth Management Inc. increased its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 42.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,417 shares of the enterprise software provider's stock after buying an additional 4,883 shares during the period. Oracle comprises about 3.0% of MFG Wealth Management Inc.'s holdings, making the stock its 4th largest position. MFG Wealth Management Inc.'s holdings in Oracle were worth $3,589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. WestHill Financial Advisors Inc. purchased a new stake in shares of Oracle in the 2nd quarter worth about $262,000. Reyes Financial Architecture Inc. lifted its holdings in shares of Oracle by 7.2% during the 2nd quarter. Reyes Financial Architecture Inc. now owns 643 shares of the enterprise software provider's stock worth $141,000 after acquiring an additional 43 shares during the period. Czech National Bank lifted its holdings in shares of Oracle by 6.7% during the 2nd quarter. Czech National Bank now owns 397,563 shares of the enterprise software provider's stock worth $86,919,000 after acquiring an additional 24,961 shares during the period. Sandy Cove Advisors LLC lifted its holdings in shares of Oracle by 93.0% during the 2nd quarter. Sandy Cove Advisors LLC now owns 4,935 shares of the enterprise software provider's stock worth $1,079,000 after acquiring an additional 2,378 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Oracle by 1.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 17,196 shares of the enterprise software provider's stock worth $3,760,000 after purchasing an additional 190 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Price Performance

NYSE:ORCL opened at $302.10 on Tuesday. The business's 50-day moving average price is $246.08 and its 200 day moving average price is $191.63. The firm has a market cap of $858.48 billion, a P/E ratio of 69.93, a PEG ratio of 3.16 and a beta of 1.46. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $345.72. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.33.

Oracle Dividend Announcement

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

Insider Buying and Selling

In other Oracle news, Director Rona Alison Fairhead bought 480 shares of the stock in a transaction on Monday, July 7th. The shares were bought at an average price of $233.87 per share, with a total value of $112,257.60. Following the purchase, the director directly owned 22,110 shares in the company, valued at $5,170,865.70. The trade was a 2.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the transaction, the director directly owned 31,447 shares in the company, valued at approximately $7,337,214.04. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,183 shares of company stock worth $7,141,698. Company insiders own 42.20% of the company's stock.

Analysts Set New Price Targets

ORCL has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on shares of Oracle from $175.00 to $246.00 and gave the stock an "equal weight" rating in a research report on Monday, September 8th. BMO Capital Markets set a $345.00 price target on shares of Oracle in a research report on Wednesday, September 10th. Royal Bank Of Canada lifted their price objective on shares of Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a report on Thursday, June 12th. TD Cowen lifted their price objective on shares of Oracle from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Finally, Cantor Fitzgerald raised their target price on Oracle from $271.00 to $400.00 and gave the company an "overweight" rating in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Oracle currently has a consensus rating of "Moderate Buy" and a consensus price target of $303.44.

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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