Truist Financial Corp Buys 34,603 Shares of Oracle Corporation (NYSE:ORCL)

Truist Financial Corp lifted its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,830,296 shares of the enterprise software provider's stock after acquiring an additional 34,603 shares during the quarter. Truist Financial Corp owned approximately 0.07% of Oracle worth $255,894,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Oracle by 71.6% in the 1st 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 period. Rockland Trust Co. boosted its stake in Oracle by 4.8% in the 1st 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 period. Calamos Advisors LLC boosted its stake in Oracle by 1.5% in the 1st 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 period. Cornerstone Advisory LLC boosted its stake in Oracle by 34.1% in the 4th 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 period. Finally, Peak Retirement Planning Inc. bought a new position in Oracle in the 4th quarter worth approximately $211,000. 42.44% of the stock is currently owned by institutional investors.

Insider Transactions at Oracle

In related news, Director Naomi O. Seligman sold 2,866 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $149.53, for a total transaction of $428,552.98. Following the sale, the director owned 31,764 shares of the company's stock, valued at $4,749,670.92. This trade represents a 8.28% decrease in their ownership of the stock. 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 firm'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 sale, the insider directly owned 1,097,576 shares in the company, valued at approximately $209,000,421.92. The trade was a 26.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,366 shares of company stock worth $83,103,603 over the last quarter. 42.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ORCL has been the subject of several recent analyst reports. Piper Sandler restated a "neutral" rating and issued a $130.00 price target on shares of Oracle in a research note on Wednesday, June 11th. Barclays reiterated an "overweight" rating and set a $221.00 target price (up from $202.00) on shares of Oracle in a research report on Friday, June 13th. Oppenheimer reiterated an "outperform" rating on shares of Oracle in a research report on Wednesday, June 18th. Citigroup reiterated an "outperform" rating on shares of Oracle in a research report on Thursday, June 12th. Finally, DA Davidson increased their target price on Oracle from $140.00 to $170.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. Ten research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.15.

Oracle Stock Up 3.2%

Shares of ORCL traded up $7.41 during midday trading on Friday, reaching $237.39. 18,441,376 shares of the stock were exchanged, compared to its average volume of 10,159,668. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $237.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The company's 50 day moving average is $178.14 and its two-hundred day moving average is $164.25. The company has a market capitalization of $666.79 billion, a P/E ratio of 54.70, a PEG ratio of 3.55 and a beta of 1.39.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results 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. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the company earned $1.63 EPS. The business's revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Thursday, July 10th. Oracle's payout ratio is 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.