Strs Ohio Purchases Shares of 776,567 Oracle Corporation $ORCL

Key Points

• Strs Ohio has made a significant investment by purchasing 776,567 shares of Oracle Corporation, valuing the acquisition at approximately $108.57 million.
• Wall Street analysts have raised their price targets for Oracle, with Wolfe Research setting a new target of $400.00 and several other firms also increasing their estimates, demonstrating strong confidence in the company's future performance.
• Oracle has announced a quarterly dividend of $0.50 per share, which is set to be paid on October 23rd, indicating a consistent return to shareholders.

Strs Ohio acquired a new position in Oracle Corporation (NYSE:ORCL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 776,567 shares of the enterprise software provider's stock, valued at approximately $108,572,000.

Other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new position in Oracle during the first quarter valued at approximately $732,692,000. GAMMA Investing LLC raised its position in Oracle by 15,012.3% during the first quarter. GAMMA Investing LLC now owns 4,755,096 shares of the enterprise software provider's stock valued at $664,810,000 after acquiring an additional 4,723,631 shares in the last quarter. Vanguard Group Inc. raised its position in Oracle by 2.2% during the first quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider's stock valued at $22,498,982,000 after acquiring an additional 3,513,464 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Oracle by 20.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider's stock valued at $2,303,858,000 after acquiring an additional 2,350,448 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Oracle by 79.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,638,951 shares of the enterprise software provider's stock valued at $648,572,000 after acquiring an additional 2,049,687 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ORCL has been the subject of several recent research reports. Wolfe Research lifted their price target on Oracle from $300.00 to $400.00 and gave the company an "outperform" rating in a research report on Wednesday. TD Cowen raised their price objective on Oracle from $325.00 to $375.00 and gave the company a "buy" rating in a report on Wednesday. Royal Bank Of Canada raised their price objective on Oracle from $145.00 to $195.00 and gave the company a "sector perform" rating in a report on Thursday, June 12th. DA Davidson raised their price objective on Oracle from $220.00 to $300.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $240.00 price objective (up from $200.00) on shares of Oracle in a report on Thursday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $296.84.

Insider Buying and Selling

In other Oracle news, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total value of $4,041,142.40. Following the sale, the insider owned 99,212 shares in the company, valued at $25,247,469.76. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the sale, the director owned 31,447 shares in the company, valued at $7,337,214.04. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,183 shares of company stock valued at $10,353,198. 42.20% of the stock is currently owned by company insiders.

Oracle Stock Performance

Shares of NYSE:ORCL opened at $328.40 on Thursday. The business's 50 day moving average price is $242.19 and its 200-day moving average price is $188.57. The firm has a market capitalization of $922.41 billion, a PE ratio of 76.02, a P/E/G ratio of 3.61 and a beta of 1.46. 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 Corporation has a 1 year low of $118.86 and a 1 year high of $345.72.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 80.42% and a net margin of 21.08%.The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. As a group, equities research analysts expect that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. Oracle's payout ratio is 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.

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