Transcendent Capital Group LLC Takes $309,000 Position in Oracle Corporation (NYSE:ORCL)

Transcendent Capital Group LLC acquired a new position in Oracle Corporation (NYSE:ORCL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,210 shares of the enterprise software provider's stock, valued at approximately $309,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC bought a new stake in shares of Oracle in the fourth quarter worth about $30,000. Hurley Capital LLC bought a new stake in shares of Oracle in the fourth quarter worth about $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Oracle in the first quarter worth about $27,000. Inlight Wealth Management LLC bought a new stake in shares of Oracle in the first quarter worth about $28,000. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after acquiring an additional 151 shares in the last quarter. Institutional investors own 42.44% of the company's stock.

Insider Transactions at Oracle

In other news, EVP Maria Smith sold 10,000 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the sale, the executive vice president directly owned 40,807 shares in the company, valued at $9,507,622.93. This represents a 19.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rona Alison Fairhead acquired 480 shares of Oracle stock in a transaction dated Monday, July 7th. The stock was bought at an average price of $233.87 per share, with a total value of $112,257.60. Following the completion of the purchase, the director directly owned 22,110 shares in the company, valued at $5,170,865.70. This represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 445,366 shares of company stock worth $84,784,653 over the last three months. 42.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

ORCL has been the subject of several recent analyst reports. Piper Sandler upgraded Oracle from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $190.00 to $270.00 in a report on Thursday, July 10th. UBS Group increased their price objective on Oracle from $250.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday. Evercore ISI increased their price objective on Oracle from $215.00 to $270.00 and gave the stock an "outperform" rating in a report on Monday. Barclays reiterated an "overweight" rating and set a $221.00 price objective (up from $202.00) on shares of Oracle in a report on Friday, June 13th. Finally, DA Davidson boosted their price target on shares of Oracle from $140.00 to $170.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Oracle has an average rating of "Moderate Buy" and an average target price of $215.61.

Oracle Stock Up 3.2%

Shares of ORCL traded up $7.76 during mid-day trading on Thursday, reaching $249.06. The company had a trading volume of 17,612,488 shares, compared to its average volume of 10,338,681. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50-day moving average price of $194.31 and a 200 day moving average price of $168.39. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $251.60. The company has a market capitalization of $699.56 billion, a price-to-earnings ratio of 57.39, a price-to-earnings-growth ratio of 3.61 and a beta of 1.39.

Oracle (NYSE:ORCL - Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 EPS. On average, sell-side analysts forecast that Oracle Corporation will post 5 EPS for the current year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.80%. Oracle's dividend payout ratio is presently 46.08%.

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.