Truist Financial Corp Has $255.89 Million Position in Oracle Corporation (NYSE:ORCL)

Truist Financial Corp grew its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,830,296 shares of the enterprise software provider's stock after buying an additional 34,603 shares during the quarter. Truist Financial Corp owned about 0.07% of Oracle worth $255,894,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ORCL. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Oracle by 71.6% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock worth $35,984,000 after purchasing an additional 107,404 shares during the last quarter. Rockland Trust Co. raised its holdings in Oracle by 4.8% during the first quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock worth $1,421,000 after purchasing an additional 467 shares during the last quarter. Calamos Advisors LLC raised its holdings in Oracle by 1.5% during the first quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock worth $99,445,000 after purchasing an additional 10,426 shares during the last quarter. Cornerstone Advisory LLC raised its holdings in Oracle by 34.1% during the fourth quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider's stock worth $2,258,000 after purchasing an additional 3,299 shares during the last quarter. Finally, Peak Retirement Planning Inc. acquired a new position in Oracle during the fourth quarter worth $211,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ORCL has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Oracle from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Stephens began coverage on Oracle in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $167.00 price target for the company. Loop Capital set a $135.00 price target on Oracle in a report on Tuesday, June 10th. JPMorgan Chase & Co. boosted their price target on Oracle from $135.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Finally, Westpark Capital boosted their price target on Oracle from $195.00 to $246.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Ten investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $204.15.

Insider Transactions at Oracle

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the completion of the sale, the insider directly owned 1,097,576 shares in the company, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leon E. Panetta sold 17,500 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the transaction, the director directly owned 58,090 shares in the company, valued at $8,785,531.60. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 440,366 shares of company stock valued at $83,103,603 in the last three months. 42.20% of the stock is currently owned by insiders.

Oracle Stock Down 1.7%

Shares of ORCL traded down $4.07 during mid-day trading on Monday, reaching $233.25. The company's stock had a trading volume of 12,026,581 shares, compared to its average volume of 12,250,820. The business has a fifty day moving average of $178.14 and a 200 day moving average of $164.22. The company has a market cap of $655.16 billion, a price-to-earnings ratio of 53.74, a price-to-earnings-growth ratio of 3.55 and a beta of 1.39. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $237.99. 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 (NYSE:ORCL - Get Free Report) last released its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating 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 return on equity of 87.34% and a net margin of 21.68%. The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. As a group, analysts forecast that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.86%. Oracle's dividend payout ratio is 46.08%.

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.