Persistent Asset Partners Ltd Invests $280,000 in Oracle Corporation (NYSE:ORCL)

Key Points

• Persistent Asset Partners Ltd has invested $280,000 by acquiring 2,000 shares of Oracle Corporation in the first quarter, indicating growing institutional interest in the company.
• Insider transactions included Clayton M. Magouyrk selling 15,000 shares at $214.10, decreasing his position by 19.81% and highlighting potential shifts within company ownership.
• Oracle's recent quarterly earnings report showed a 21.68% net margin and an EPS of $1.70, outperforming analysts' expectations and signaling robust financial health.

Persistent Asset Partners Ltd bought a new position in Oracle Corporation (NYSE:ORCL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,000 shares of the enterprise software provider's stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. raised its position in Oracle by 71.6% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock worth $35,984,000 after purchasing an additional 107,404 shares during the last quarter. Lockheed Martin Investment Management Co. increased its position in shares of Oracle by 4.3% in the 1st quarter. Lockheed Martin Investment Management Co. now owns 51,350 shares of the enterprise software provider's stock valued at $7,179,000 after buying an additional 2,110 shares in the last quarter. Nuveen LLC bought a new stake in shares of Oracle in the 1st quarter valued at $732,692,000. Rockland Trust Co. increased its position in shares of Oracle by 4.8% in the 1st quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock valued at $1,421,000 after buying an additional 467 shares in the last quarter. Finally, Calamos Advisors LLC boosted its stake in Oracle by 1.5% in the 1st quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock worth $99,445,000 after purchasing an additional 10,426 shares during the period. Institutional investors and hedge funds own 42.44% of the company's stock.

Insider Buying and Selling

In related news, insider Clayton M. Magouyrk sold 15,000 shares of the company's stock in a transaction that occurred on 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 sale, the insider directly owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Naomi O. Seligman sold 3,303 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the sale, the director directly owned 31,447 shares in the company, valued at $7,337,214.04. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 444,183 shares of company stock worth $86,521,198 over the last 90 days. 42.20% of the stock is currently owned by corporate insiders.

Oracle Price Performance

Shares of NYSE ORCL opened at $253.00 on Tuesday. The firm has a market capitalization of $710.63 billion, a P/E ratio of 58.29, a PEG ratio of 3.73 and a beta of 1.43. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. Oracle Corporation has a one year low of $118.86 and a one year high of $260.87. The company's fifty day moving average is $224.37 and its two-hundred day moving average is $178.23.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data 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. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The company 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 company posted $1.63 EPS. The company's quarterly revenue was up 11.3% compared to the same quarter last year. Analysts forecast that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

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

Analyst Ratings Changes

ORCL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Oracle from $135.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $240.00 target price (up previously from $200.00) on shares of Oracle in a research note on Thursday, June 12th. KeyCorp boosted their price objective on shares of Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Morgan Stanley reissued an "overweight" rating on shares of Oracle in a research report on Wednesday, June 18th. Finally, Bank of America increased their price objective on shares of Oracle from $220.00 to $295.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Nine investment 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $222.75.

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.

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