OVERSEA CHINESE BANKING Corp Ltd Has $2.01 Million Position in Oracle Corporation (NYSE:ORCL)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd raised its stake in Oracle Corporation by 45.7%, owning 13,953 shares valued at approximately $2 million as of the latest SEC filing.
• Analysts have revised Oracle's price targets, with JMP Securities increasing theirs from $240 to $315, indicating a strong belief in the company's performance.
• Oracle's recent quarterly earnings showed a revenue increase of 11.3% year-over-year, reporting $15.90 billion in revenue and $1.70 EPS, surpassing expectations.

OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 45.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,953 shares of the enterprise software provider's stock after purchasing an additional 4,374 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Oracle were worth $2,014,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in Oracle in the first quarter valued at about $27,000. Inlight Wealth Management LLC acquired a new stake in Oracle in the first quarter valued at about $28,000. Iron Horse Wealth Management LLC lifted its position in Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock valued at $29,000 after purchasing an additional 151 shares during the period. Sunbeam Capital Management LLC acquired a new stake in Oracle in the fourth quarter valued at about $30,000. Finally, Hurley Capital LLC acquired a new stake in Oracle in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Insider Buying and Selling at Oracle

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm'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 in the company, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Naomi O. Seligman sold 3,303 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total transaction of $770,655.96. Following the completion of the transaction, the director owned 31,447 shares in the company, valued at $7,337,214.04. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 428,303 shares of company stock valued at $82,480,056. Corporate insiders own 42.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ORCL. Loop Capital set a $135.00 price target on shares of Oracle in a research report on Tuesday, June 10th. Mizuho reduced their price target on shares of Oracle from $210.00 to $180.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Royal Bank Of Canada lifted their price target on shares of Oracle from $145.00 to $195.00 and gave the company a "sector perform" rating in a research report on Thursday, June 12th. Bank of America lifted their price target on shares of Oracle from $156.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. Finally, Guggenheim lifted their price target on shares of Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Oracle currently has a consensus rating of "Moderate Buy" and an average target price of $218.29.

Oracle Stock Up 3.4%

ORCL stock traded up $8.35 during trading on Monday, reaching $252.77. The stock had a trading volume of 8,565,735 shares, compared to its average volume of 11,238,885. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $260.87. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The company has a market capitalization of $709.99 billion, a P/E ratio of 58.24, a PEG ratio of 3.65 and a beta of 1.43. The firm has a fifty day moving average price of $213.55 and a 200 day moving average price of $174.96.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share 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 business had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid 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 yield of 0.8%. Oracle's dividend payout ratio is currently 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.