Sit Investment Associates Inc. Has $15.27 Million Stock Position in Oracle Corporation (NYSE:ORCL)

Key Points

• Sit Investment Associates Inc. has decreased its position in Oracle Corporation by 5.1%, now owning 109,191 shares valued at approximately $15.3 million.
• Analysts have set a consensus price target of $222.75 for Oracle stock, with Bank of America and JMP Securities raising targets to $295.00 and $315.00, respectively.
• Oracle recently declared a quarterly dividend of $0.50 per share, with an annualized yield of 0.8%, contributing to a payout ratio of 46.08%.

Sit Investment Associates Inc. reduced its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,191 shares of the enterprise software provider's stock after selling 5,835 shares during the quarter. Sit Investment Associates Inc.'s holdings in Oracle were worth $15,266,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ORCL. Nuveen LLC purchased a new stake in shares of Oracle during the first quarter valued at $732,692,000. GAMMA Investing LLC boosted its position in shares of Oracle by 15,012.3% during the first quarter. GAMMA Investing LLC now owns 4,755,096 shares of the enterprise software provider's stock valued at $664,810,000 after buying an additional 4,723,631 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Oracle by 2.2% during the first quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider's stock valued at $22,498,982,000 after buying an additional 3,513,464 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Oracle by 20.5% during the fourth 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 last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of Oracle by 268.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,077,947 shares of the enterprise software provider's stock valued at $512,909,000 after buying an additional 2,242,520 shares during the last quarter. Institutional investors own 42.44% of the company's stock.

Insider Buying and Selling at Oracle

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the firm's 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 owned 31,447 shares of the company's stock, valued at $7,337,214.04. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $4,041,142.40. Following the sale, the insider directly owned 99,212 shares in the company, valued at approximately $25,247,469.76. This trade represents a 13.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 444,183 shares of company stock valued at $86,521,198. Corporate insiders own 42.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Bank of America raised their target price on Oracle from $220.00 to $295.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. CIBC reissued a "buy" rating on shares of Oracle in a research report on Monday, June 9th. Oppenheimer reissued an "outperform" rating on shares of Oracle in a research report on Wednesday, June 18th. Piper Sandler raised Oracle from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $190.00 to $270.00 in a research report on Thursday, July 10th. Finally, Barclays reissued an "overweight" rating and issued a $221.00 target price (up from $202.00) on shares of Oracle in a research report on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Oracle currently has an average rating of "Moderate Buy" and a consensus price target of $227.04.

Oracle Trading Up 1.4%

ORCL traded up $3.52 on Friday, reaching $248.48. 11,535,891 shares of the company's stock were exchanged, compared to its average volume of 9,821,110. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $260.87. The company's 50 day moving average is $229.06 and its 200-day moving average is $179.81. The company has a market cap of $697.94 billion, a price-to-earnings ratio of 57.25, a PEG ratio of 3.66 and a beta of 1.43. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75.

Oracle (NYSE:ORCL - Get Free Report) last announced 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. The company had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The company's revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. Equities analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

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

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.