Synovus Financial Corp Buys 5,182 Shares of Oracle Corporation $ORCL

Key Points

• Synovus Financial Corp increased its stake in Oracle Corporation by 3.1%, holding a total of 170,112 shares valued at approximately $23.78 million by the end of the reporting period.
• Oracle's recent quarterly earnings topped expectations with $1.70 earnings per share from revenue of $15.90 billion, marking an 11.3% increase year-over-year.
• The company announced a $0.50 quarterly dividend, resulting in an annual yield of 0.8%, with a payout ratio of 46.08%.

Synovus Financial Corp boosted its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,112 shares of the enterprise software provider's stock after acquiring an additional 5,182 shares during the period. Synovus Financial Corp's holdings in Oracle were worth $23,783,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of Oracle by 189.3% in the 4th quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider's stock valued at $25,593,000 after purchasing an additional 100,494 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Oracle by 8.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider's stock valued at $903,000 after purchasing an additional 404 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Oracle by 0.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 71,281 shares of the enterprise software provider's stock valued at $11,878,000 after purchasing an additional 299 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Oracle by 193.3% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 82,558 shares of the enterprise software provider's stock valued at $13,757,000 after purchasing an additional 54,411 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its stake in shares of Oracle by 4.7% in the 4th quarter. Virtus ETF Advisers LLC now owns 6,668 shares of the enterprise software provider's stock valued at $1,111,000 after purchasing an additional 299 shares during the last quarter. Institutional investors own 42.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Roth Capital reiterated a "hold" rating on shares of Oracle in a research note on Wednesday, June 18th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $195.00 price target (up previously from $145.00) on shares of Oracle in a research note on Friday, June 13th. JMP Securities lifted their price target on Oracle from $240.00 to $315.00 and gave the company a "market outperform" rating in a research note on Friday, July 18th. Cowen reiterated a "buy" rating on shares of Oracle in a research note on Thursday, June 12th. Finally, Piper Sandler raised Oracle from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $190.00 to $270.00 in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Oracle presently has an average rating of "Moderate Buy" and a consensus price target of $227.04.

Oracle Trading Up 1.3%

NYSE ORCL opened at $236.1670 on Friday. 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 twelve month low of $118.86 and a twelve month high of $260.87. The company has a market cap of $663.35 billion, a price-to-earnings ratio of 54.42, a price-to-earnings-growth ratio of 3.53 and a beta of 1.43. The business's fifty day moving average is $235.36 and its 200 day moving average is $182.87.

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, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%.Oracle's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. As a group, sell-side analysts expect that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.8%. Oracle's payout ratio is presently 46.08%.

Insider Activity

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares of the company's stock, valued at $13,000,580.20. The trade was a 19.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the transaction, the insider directly owned 1,097,576 shares in the company, valued at $209,000,421.92. This represents a 26.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 444,183 shares of company stock worth $86,521,198. 42.20% of the stock is owned by corporate insiders.

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.

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