Sandy Cove Advisors LLC Boosts Stake in Oracle Corporation $ORCL

Key Points

• Sandy Cove Advisors LLC increased its stake in Oracle Corporation by 93.0% during the second quarter, owning 4,935 shares valued at approximately $1,079,000.
• Oracle announced a $0.50 quarterly dividend to be paid on October 23rd, representing an annualized dividend of $2.00 and a yield of 0.7%.
• Multiple analysts have updated their ratings for Oracle stock, with price targets ranging from $246.00 to $375.00, and a consensus rating of "Moderate Buy."

Sandy Cove Advisors LLC grew its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 93.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,935 shares of the enterprise software provider's stock after buying an additional 2,378 shares during the period. Sandy Cove Advisors LLC's holdings in Oracle were worth $1,079,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Redmont Wealth Advisors LLC purchased a new position in shares of Oracle during the first quarter worth $27,000. Inlight Wealth Management LLC purchased a new position in shares of Oracle during the first quarter worth $28,000. Iron Horse Wealth Management LLC raised its holdings in shares of Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Sunbeam Capital Management LLC purchased a new position in shares of Oracle during the fourth quarter worth $30,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Oracle during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Oracle Price Performance

Oracle stock opened at $302.10 on Tuesday. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $858.48 billion, a price-to-earnings ratio of 69.93, a price-to-earnings-growth ratio of 3.16 and a beta of 1.46. The company's 50 day simple moving average is $246.08 and its 200-day simple moving average is $191.63. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $345.72.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be issued a $0.50 dividend. The ex-dividend date is Thursday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. Oracle's payout ratio is 46.30%.

Insider Buying and Selling at Oracle

In related news, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the transaction, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rona Alison Fairhead acquired 480 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was acquired at an average price of $233.87 per share, with a total value of $112,257.60. Following the acquisition, the director directly owned 22,110 shares of the company's stock, valued at approximately $5,170,865.70. This represents a 2.22% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 29,183 shares of company stock worth $7,141,698. 42.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on ORCL shares. Morgan Stanley raised their target price on shares of Oracle from $175.00 to $246.00 and gave the stock an "equal weight" rating in a report on Monday, September 8th. Citigroup restated an "outperform" rating on shares of Oracle in a research report on Wednesday, September 10th. The Goldman Sachs Group raised their price target on shares of Oracle from $195.00 to $310.00 and gave the company a "neutral" rating in a research report on Monday. Cowen restated a "buy" rating and set a $375.00 price target on shares of Oracle in a research report on Wednesday, September 10th. Finally, CIBC restated a "buy" rating on shares of Oracle in a research report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Oracle has a consensus rating of "Moderate Buy" and an average price target of $303.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.