SouthState Corp Has $24.23 Million Holdings in Oracle Corporation (NYSE:ORCL)

Key Points

• SouthState Corp increased its stake in Oracle Corporation by 5.3%, holding 173,328 shares valued at approximately $24.23 million.
• Oracle recently reported quarterly earnings of $1.70 per share, exceeding estimates, and experienced an 11.3% year-over-year revenue growth.
• The company also announced a quarterly dividend of $0.50 per share, with a current yield of 0.8% and a dividend payout ratio of 46.08%.

SouthState Corp increased its position in Oracle Corporation (NYSE:ORCL - Free Report) by 5.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 173,328 shares of the enterprise software provider's stock after purchasing an additional 8,669 shares during the period. Oracle accounts for about 1.1% of SouthState Corp's investment portfolio, making the stock its 20th biggest holding. SouthState Corp's holdings in Oracle were worth $24,233,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ORCL. Greenwood Gearhart Inc. raised its holdings in shares of Oracle by 1.2% during the fourth quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider's stock valued at $955,000 after buying an additional 66 shares during the last quarter. Flynn Zito Capital Management LLC raised its holdings in shares of Oracle by 1.7% during the first quarter. Flynn Zito Capital Management LLC now owns 4,333 shares of the enterprise software provider's stock valued at $606,000 after buying an additional 71 shares during the last quarter. Tiller Private Wealth Inc. raised its holdings in shares of Oracle by 4.6% during the first quarter. Tiller Private Wealth Inc. now owns 1,599 shares of the enterprise software provider's stock valued at $224,000 after buying an additional 71 shares during the last quarter. Private Wealth Management Group LLC raised its holdings in shares of Oracle by 14.9% during the first quarter. Private Wealth Management Group LLC now owns 556 shares of the enterprise software provider's stock valued at $78,000 after buying an additional 72 shares during the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. raised its holdings in shares of Oracle by 4.8% during the first quarter. Woodley Farra Manion Portfolio Management Inc. now owns 1,562 shares of the enterprise software provider's stock valued at $218,000 after buying an additional 72 shares during the last quarter. Institutional investors own 42.44% of the company's stock.

Oracle Stock Up 0.3%

NYSE:ORCL traded up $0.65 during trading hours on Friday, reaching $250.04. The company's stock had a trading volume of 8,301,832 shares, compared to its average volume of 10,261,765. The company has a market cap of $702.32 billion, a price-to-earnings ratio of 57.61, a price-to-earnings-growth ratio of 3.73 and a beta of 1.43. Oracle Corporation has a one year low of $118.86 and a one year high of $260.87. The business's 50-day moving average is $222.64 and its 200-day moving average is $177.75. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75.

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

Oracle Announces Dividend

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

Insider Activity at Oracle

In other Oracle news, insider Clayton M. Magouyrk sold 15,000 shares of the company'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 completion of the sale, the insider directly owned 60,722 shares in the company, valued at $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total transaction of $770,655.96. Following the sale, the director owned 31,447 shares of the company's stock, valued at $7,337,214.04. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 444,183 shares of company stock valued at $86,521,198. 42.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays reaffirmed an "overweight" rating and set a $221.00 price target (up previously from $202.00) on shares of Oracle in a report on Friday, June 13th. Cowen reissued a "buy" rating on shares of Oracle in a report on Thursday, June 12th. DA Davidson boosted their target price on Oracle from $140.00 to $170.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Jefferies Financial Group boosted their target price on Oracle from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, BMO Capital Markets boosted their target price on Oracle from $235.00 to $245.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $222.75.

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.