Patten & Patten Inc. TN Purchases 1,122 Shares of Oracle Corporation (NYSE:ORCL)

Key Points

• Patten & Patten Inc. TN increased its stake in Oracle Corporation by 11.5%, purchasing an additional 1,122 shares to bring their total holdings to 10,861 shares valued at approximately $1.52 million.
• Oracle recently reported earnings of $1.70 EPS, surpassing analyst forecasts of $1.64, with a revenue of $15.90 billion, indicating an 11.3% year-over-year growth.
• Oracle declared a quarterly dividend of $0.50 per share, with a total annualized dividend of $2.00 and a dividend yield of 0.82%, representing a payout ratio of 46.08%.

Patten & Patten Inc. TN boosted its position in Oracle Corporation (NYSE:ORCL - Free Report) by 11.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,861 shares of the enterprise software provider's stock after buying an additional 1,122 shares during the period. Patten & Patten Inc. TN's holdings in Oracle were worth $1,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evermay Wealth Management LLC increased its holdings in Oracle by 3.8% during the 1st quarter. Evermay Wealth Management LLC now owns 5,479 shares of the enterprise software provider's stock worth $766,000 after purchasing an additional 200 shares in the last quarter. Kinsale Capital Group Inc. increased its holdings in Oracle by 14.9% during the 1st quarter. Kinsale Capital Group Inc. now owns 65,475 shares of the enterprise software provider's stock worth $9,154,000 after purchasing an additional 8,473 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new stake in Oracle during the 1st quarter worth approximately $85,000. Pin Oak Investment Advisors Inc. increased its holdings in Oracle by 9.3% during the 1st quarter. Pin Oak Investment Advisors Inc. now owns 1,840 shares of the enterprise software provider's stock worth $283,000 after purchasing an additional 157 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in Oracle by 16.0% during the 1st quarter. Foundations Investment Advisors LLC now owns 190,880 shares of the enterprise software provider's stock worth $26,687,000 after purchasing an additional 26,287 shares in the last quarter. 42.44% of the stock is owned by institutional investors.

Oracle Stock Up 0.9%

ORCL opened at $245.05 on Monday. The stock has a market cap of $688.31 billion, a PE ratio of 56.46, a P/E/G ratio of 3.66 and a beta of 1.39. 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 52 week low of $118.86 and a 52 week high of $251.60. The business's fifty day simple moving average is $204.42 and its 200 day simple moving average is $171.71.

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

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.82%. Oracle's dividend payout ratio (DPR) is currently 46.08%.

Wall Street Analyst Weigh In

ORCL has been the subject of several recent analyst reports. Cowen reaffirmed a "buy" rating on shares of Oracle in a report on Thursday, June 12th. TD Cowen upped their target price on Oracle from $250.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Piper Sandler raised Oracle from a "neutral" rating to an "overweight" rating and upped their target price for the company from $190.00 to $270.00 in a report on Thursday, July 10th. DA Davidson upped their target price on Oracle from $140.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Oracle in a report on Wednesday, June 18th. Nine research 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $218.29.

Insider Activity

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 40,807 shares in the company, valued at $9,507,622.93. The trade was a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 448,669 shares of company stock valued at $85,555,309. Company insiders own 42.20% of the company's stock.

Oracle 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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