1248 Management LLC Has $3.17 Million Stock Holdings in Oracle Corporation $ORCL

Key Points

• 1248 Management LLC increased its stake in Oracle Corporation by 352.1%, owning 22,683 shares worth approximately $3.17 million, making it the company's 15th largest position.
• Oracle reported a quarterly revenue of $15.90 billion, exceeding analyst estimates, with a net margin of 21.68% and earnings per share of $1.70, reflecting an 11.3% increase compared to the same quarter last year.
• The company declared a quarterly dividend of $0.50, representing a 0.9% dividend yield, with a payout ratio of 46.08% for its shareholders of record.

1248 Management LLC increased its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 352.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,683 shares of the enterprise software provider's stock after buying an additional 17,666 shares during the period. Oracle accounts for about 1.7% of 1248 Management LLC's investment portfolio, making the stock its 15th biggest holding. 1248 Management LLC's holdings in Oracle were worth $3,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ORCL. Brighton Jones LLC increased its holdings in Oracle by 189.3% in the fourth quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider's stock valued at $25,593,000 after purchasing an additional 100,494 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Oracle by 8.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider's stock valued at $903,000 after acquiring an additional 404 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in shares of Oracle by 231.5% in the 4th quarter. Aptus Capital Advisors LLC now owns 69,647 shares of the enterprise software provider's stock valued at $11,606,000 after acquiring an additional 48,635 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in Oracle by 201.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 113,899 shares of the enterprise software provider's stock valued at $18,980,000 after purchasing an additional 76,099 shares in the last quarter. Finally, BNP Paribas increased its stake in Oracle by 75.0% in the fourth quarter. BNP Paribas now owns 72,560 shares of the enterprise software provider's stock valued at $12,068,000 after purchasing an additional 31,093 shares in the last quarter. Institutional investors own 42.44% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ORCL. JMP Securities upped their target price on shares of Oracle from $240.00 to $315.00 and gave the company a "market outperform" rating in a research note on Friday, July 18th. Cowen restated a "buy" rating on shares of Oracle in a research report on Thursday, June 12th. Piper Sandler upgraded Oracle from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $190.00 to $270.00 in a report on Thursday, July 10th. Bank of America increased their price target on Oracle from $220.00 to $295.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, Evercore ISI increased their price target on Oracle from $215.00 to $270.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Three 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. Based on data from MarketBeat.com, Oracle presently has a consensus rating of "Moderate Buy" and an average target price of $227.04.

Insiders Place Their Bets

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 31,447 shares of the company's stock, valued at $7,337,214.04. The trade was a 9.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Maria Smith sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the transaction, the executive vice president directly owned 40,807 shares in the company, valued at $9,507,622.93. This trade represents a 19.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 444,183 shares of company stock valued at $86,521,198 in the last quarter. 42.20% of the stock is currently owned by corporate insiders.

Oracle Stock Down 0.5%

Shares of NYSE ORCL traded down $1.02 during midday trading on Tuesday, reaching $225.11. The company's stock had a trading volume of 10,444,468 shares, compared to its average volume of 9,853,720. 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 Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $260.87. The stock has a market capitalization of $632.30 billion, a price-to-earnings ratio of 51.87, a PEG ratio of 3.38 and a beta of 1.46. The stock has a 50 day simple moving average of $238.48 and a 200-day simple moving average of $185.65.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same period last year, the company earned $1.63 earnings per share. The firm's revenue was up 11.3% compared to the same quarter last year. Equities research analysts predict 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 given 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 0.9%. Oracle's payout ratio is currently 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.