Oracle Corporation (NYSE:ORCL) Shares Acquired by Cary Street Partners Investment Advisory LLC

Key Points

• Cary Street Partners Investment Advisory LLC significantly increased its stake in Oracle Corporation by 127.4% in the first quarter, holding shares now valued at $467,000.
• Multiple analysts have upgraded their price targets for Oracle, with TD Cowen raising it to $275.00 and the stock receiving a “buy” rating from twenty-three analysts.
• Oracle recently declared a quarterly dividend of $0.50 per share, translating to an annual yield of 0.8% and a payout ratio of 46.08%.

Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 127.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,341 shares of the enterprise software provider's stock after buying an additional 1,872 shares during the period. Cary Street Partners Investment Advisory LLC's holdings in Oracle were worth $467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in Oracle by 189.3% in the fourth 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 lifted its position in Oracle by 8.1% in the fourth 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. Wellington Management Group LLP lifted its position in Oracle by 200.4% in the fourth quarter. Wellington Management Group LLP now owns 172,483 shares of the enterprise software provider's stock worth $28,743,000 after purchasing an additional 115,059 shares during the period. Trek Financial LLC lifted its position in Oracle by 3.6% in the fourth quarter. Trek Financial LLC now owns 12,861 shares of the enterprise software provider's stock worth $2,143,000 after purchasing an additional 450 shares during the period. Finally, Concentrum Wealth Management lifted its position in Oracle by 63.3% in the fourth quarter. Concentrum Wealth Management now owns 5,797 shares of the enterprise software provider's stock worth $966,000 after purchasing an additional 2,247 shares during the period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ORCL has been the subject of a number of research analyst reports. Raymond James Financial restated a "strong-buy" rating on shares of Oracle in a research report on Wednesday, June 18th. Guggenheim upped their target price on Oracle from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Evercore ISI upped their target price on Oracle from $215.00 to $270.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $240.00 target price (up from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Finally, TD Cowen increased their price objective on Oracle from $250.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $218.29.

Insiders Place Their Bets

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider directly owned 1,097,576 shares of the company's stock, valued at approximately $209,000,421.92. This represents a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rona Alison Fairhead purchased 480 shares of the company's stock in a transaction dated Monday, July 7th. The stock was bought at an average cost of $233.87 per share, for a total transaction of $112,257.60. Following the completion of 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 position. The disclosure for this purchase can be found here. Insiders sold a total of 428,303 shares of company stock valued at $82,480,056 in the last three months. Company insiders own 42.20% of the company's stock.

Oracle Price Performance

Shares of NYSE:ORCL opened at $252.77 on Tuesday. The company's fifty day moving average is $215.48 and its two-hundred day moving average is $175.60. 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 12-month low of $118.86 and a 12-month high of $260.87. The company has a market cap of $709.99 billion, a P/E ratio of 58.24, a price-to-earnings-growth ratio of 3.65 and a beta of 1.43.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The business had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the prior year, the business posted $1.63 earnings per share. Oracle's revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts expect that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

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

Oracle Company 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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