NewEdge Advisors LLC Acquires 21,022 Shares of Oracle Corporation $ORCL

Key Points

• NewEdge Advisors LLC increased its stake in Oracle Corporation by 4.1%, acquiring an additional 21,022 shares, bringing their total ownership to 532,969 shares valued at $74.5 million after the first quarter.
• A significant number of institutional investors, including Nuveen LLC and Vanguard Group Inc., have made substantial investments in Oracle, reflecting growing confidence in the enterprise software provider.
• Oracle reported a quarterly earnings per share of $1.70, surpassing analyst expectations, with revenues reaching $15.9 billion, representing an 11.3% year-over-year growth.

NewEdge Advisors LLC raised its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 4.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 532,969 shares of the enterprise software provider's stock after purchasing an additional 21,022 shares during the period. NewEdge Advisors LLC's holdings in Oracle were worth $74,514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nuveen LLC bought a new position in shares of Oracle in the 1st quarter worth approximately $732,692,000. GAMMA Investing LLC boosted its stake 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 valued at $664,810,000 after purchasing an additional 4,723,631 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $22,498,982,000 after purchasing an additional 3,513,464 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 valued at $2,303,858,000 after buying an additional 2,350,448 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Oracle by 79.2% during 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 buying an additional 2,049,687 shares during the period. Institutional investors own 42.44% of the company's stock.

Insiders Place Their Bets

In related news, Director Rona Alison Fairhead purchased 480 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were purchased at an average cost of $233.87 per share, for a total transaction of $112,257.60. Following the purchase, the director directly owned 22,110 shares of the company's stock, valued at $5,170,865.70. The trade was a 2.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction 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 sale, the insider owned 99,212 shares in the company, valued at $25,247,469.76. This represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 444,183 shares of company stock worth $86,521,198. 42.20% of the stock is currently owned by insiders.

Oracle Stock Performance

Shares of ORCL stock opened at $222.89 on Friday. 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 52 week low of $118.86 and a 52 week high of $260.87. The stock has a market capitalization of $626.06 billion, a PE ratio of 51.36, a P/E/G ratio of 3.34 and a beta of 1.46. The firm has a 50 day moving average of $238.93 and a two-hundred day moving average of $186.25.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter last year, the company posted $1.63 EPS. The firm's revenue was up 11.3% compared to the same quarter last year. On average, research analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, July 10th. Oracle's dividend payout ratio (DPR) is presently 46.08%.

Analyst Ratings Changes

ORCL has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $240.00 price target (up previously from $200.00) on shares of Oracle in a research note on Thursday, June 12th. Piper Sandler raised shares of Oracle from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $190.00 to $270.00 in a research note on Thursday, July 10th. KeyCorp lifted their price target on shares of Oracle from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, June 12th. The Goldman Sachs Group reissued a "neutral" rating and set a $195.00 price objective (up from $145.00) on shares of Oracle in a report on Friday, June 13th. Finally, JMP Securities lifted their price target on shares of Oracle from $240.00 to $315.00 and gave the stock a "market outperform" rating in a report on Friday, July 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Oracle has a consensus rating of "Moderate Buy" and an average target price of $227.04.

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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