Norden Group LLC Grows Holdings in Oracle Corporation (NYSE:ORCL)

Key Points

• Norden Group LLC raised its stake in Oracle Corporation by 4.9%, owning 42,060 shares valued at approximately $5.88 million.
• Oracle recently reported quarterly earnings of $1.70 EPS, exceeding analysts' expectations, with revenue rising 11.3% year-over-year to $15.90 billion.
• The firm announced a quarterly dividend of $0.50 per share, equating to an annual yield of 0.82% and a payout ratio of 46.08%.

Norden Group LLC increased its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,060 shares of the enterprise software provider's stock after buying an additional 1,966 shares during the period. Oracle comprises 0.7% of Norden Group LLC's investment portfolio, making the stock its 25th largest holding. Norden Group LLC's holdings in Oracle were worth $5,880,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ORCL. Brighton Jones LLC increased its holdings in Oracle by 189.3% during the 4th quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider's stock worth $25,593,000 after purchasing an additional 100,494 shares during the period. Revolve Wealth Partners LLC increased its holdings in Oracle by 8.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider's stock worth $903,000 after purchasing an additional 404 shares during the period. RiverFront Investment Group LLC increased its holdings in Oracle by 50.2% during the 4th quarter. RiverFront Investment Group LLC now owns 2,871 shares of the enterprise software provider's stock worth $478,000 after purchasing an additional 960 shares during the period. Tucker Asset Management LLC increased its holdings in Oracle by 99.0% during the 4th quarter. Tucker Asset Management LLC now owns 410 shares of the enterprise software provider's stock worth $68,000 after purchasing an additional 204 shares during the period. Finally, American Money Management LLC purchased a new stake in Oracle during the 4th quarter worth about $449,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Stock Up 0.9%

ORCL stock opened at $245.05 on Monday. The company has a market cap of $688.31 billion, a P/E ratio of 56.46, a P/E/G ratio of 3.66 and a beta of 1.39. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $251.60. The company's 50-day moving average price is $204.42 and its 200 day moving average price is $171.71. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. The firm had revenue of $15.90 billion for 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 firm's revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 earnings per share. On average, research analysts expect that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's payout ratio is currently 46.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ORCL shares. Scotiabank started coverage on shares of Oracle in a research report on Thursday, July 17th. They set a "sector outperform" rating and a $300.00 price objective for the company. KeyCorp boosted their target price on shares of Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Piper Sandler upgraded shares of Oracle from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $190.00 to $270.00 in a research note on Thursday, July 10th. Roth Capital reiterated a "hold" rating on shares of Oracle in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Oracle from $135.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. Nine investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $218.29.

Insider Activity at Oracle

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total transaction of $770,655.96. Following the completion of the transaction, the director 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leon E. Panetta sold 17,500 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the transaction, the director directly owned 58,090 shares of the company's stock, valued at $8,785,531.60. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 448,669 shares of company stock valued at $85,555,309 in the last quarter. 42.20% of the stock is owned by corporate insiders.

About Oracle

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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