Oak Harvest Investment Services Grows Stock Holdings in Oracle Corporation $ORCL

Key Points

• Oak Harvest Investment Services increased its stake in Oracle Corporation by 8.4% during Q1, owning a total of 50,743 shares valued at approximately $7.1 million.
• Several institutional investors, including ICONIQ Capital LLC and Independent Franchise Partners LLP, significantly increased their positions in Oracle, reflecting strong interest from the investment community.
• Oracle announced a quarterly dividend of $0.50, with a yield of 0.8%, while the company reported earnings of $1.70 per share, surpassing estimates and showing an 11.3% year-over-year revenue growth.

Oak Harvest Investment Services grew its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 8.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,743 shares of the enterprise software provider's stock after purchasing an additional 3,915 shares during the quarter. Oak Harvest Investment Services' holdings in Oracle were worth $7,094,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Independent Franchise Partners LLP lifted its stake in Oracle by 1.5% in the 1st quarter. Independent Franchise Partners LLP now owns 4,198,933 shares of the enterprise software provider's stock worth $587,053,000 after purchasing an additional 60,478 shares in the last quarter. ICONIQ Capital LLC lifted its stake in Oracle by 4,612.9% in the 1st quarter. ICONIQ Capital LLC now owns 301,909 shares of the enterprise software provider's stock worth $42,210,000 after purchasing an additional 295,503 shares in the last quarter. Quantitative Investment Management LLC lifted its stake in Oracle by 51.7% in the 1st quarter. Quantitative Investment Management LLC now owns 30,760 shares of the enterprise software provider's stock worth $4,300,000 after purchasing an additional 10,483 shares in the last quarter. AIMZ Investment Advisors LLC lifted its stake in Oracle by 2.5% in the 1st quarter. AIMZ Investment Advisors LLC now owns 14,553 shares of the enterprise software provider's stock worth $2,035,000 after purchasing an additional 350 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Oracle in the 1st quarter worth approximately $16,796,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Scotiabank began coverage on shares of Oracle in a research note on Thursday, July 17th. They issued a "sector outperform" rating and a $300.00 target price on the stock. Piper Sandler upgraded shares of Oracle from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $190.00 to $270.00 in a report on Thursday, July 10th. Roth Capital restated a "hold" rating on shares of Oracle in a report on Wednesday, June 18th. Raymond James Financial restated a "strong-buy" rating on shares of Oracle in a report on Wednesday, June 18th. Finally, Loop Capital set a $135.00 price target on shares of Oracle in a report on Tuesday, June 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Oracle presently has an average rating of "Moderate Buy" and an average target price of $227.04.

Oracle Stock Up 1.3%

Oracle stock opened at $236.1670 on Friday. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $260.87. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50 day moving average price of $235.36 and a 200 day moving average price of $182.87. The company has a market capitalization of $663.35 billion, a PE ratio of 54.42, a price-to-earnings-growth ratio of 3.53 and a beta of 1.43.

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 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 firm had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter last year, the firm earned $1.63 EPS. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, July 10th. Oracle's dividend payout ratio (DPR) is 46.08%.

Insider Transactions at Oracle

In related news, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the sale, the insider owned 60,722 shares in the company, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the completion of the sale, the insider owned 99,212 shares of the company's stock, valued at $25,247,469.76. This trade represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 444,183 shares of company stock worth $86,521,198 in the last three months. Company insiders own 42.20% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.