Oracle Corporation $ORCL Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP has increased its stake in Oracle Corporation by 5.3%, owning 1,320,057 shares worth approximately $184.6 million.
• Oracle reported $1.70 earnings per share for the last quarter, exceeding estimates, with revenue of $15.90 billion representing an 11.3% increase compared to the previous year.
• Recent analyst price targets for Oracle's stock have seen significant increases, with Mizuho raising its target from $245 to $300, indicating positive sentiment in the market.

Korea Investment CORP increased its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,320,057 shares of the enterprise software provider's stock after purchasing an additional 66,785 shares during the period. Korea Investment CORP's holdings in Oracle were worth $184,557,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ORCL. Redmont Wealth Advisors LLC acquired a new stake in Oracle in the 1st quarter valued at about $27,000. Inlight Wealth Management LLC acquired a new stake in Oracle in the 1st quarter valued at about $28,000. Iron Horse Wealth Management LLC raised its holdings in Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Sunbeam Capital Management LLC acquired a new stake in Oracle in the 4th quarter valued at about $30,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Oracle in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 42.44% of the company's stock.

Oracle Stock Up 1.4%

Shares of NYSE:ORCL opened at $248.48 on Monday. The company has a market cap of $697.94 billion, a price-to-earnings ratio of 57.25, a PEG ratio of 3.71 and a beta of 1.43. The firm's 50-day simple moving average is $230.54 and its 200-day simple moving average is $180.59. 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 fifty-two week low of $118.86 and a fifty-two week high of $260.87.

Oracle (NYSE:ORCL - Get Free Report) last issued 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 business 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 business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 earnings per share. As a group, equities research analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Mizuho increased their price objective on shares of Oracle from $245.00 to $300.00 and gave the company an "outperform" rating in a report on Friday. Westpark Capital increased their price target on shares of Oracle from $195.00 to $246.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Raymond James Financial reissued a "strong-buy" rating on shares of Oracle in a research note on Wednesday, June 18th. Bank of America increased their price target on shares of Oracle from $220.00 to $295.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Guggenheim increased their price target on shares of Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Nine analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $227.04.

Insider Activity

In related news, insider Clayton M. Magouyrk sold 15,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the sale, the insider owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael D. Sicilia sold 15,880 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total transaction 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 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 valued at $86,521,198 in the last quarter. Insiders own 42.20% of the company's stock.

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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