HB Wealth Management LLC Boosts Stock Holdings in Oracle Co. (NYSE:ORCL)

HB Wealth Management LLC raised its holdings in shares of Oracle Co. (NYSE:ORCLGet Rating) by 7.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 108,449 shares of the enterprise software provider’s stock after purchasing an additional 7,793 shares during the period. HB Wealth Management LLC’s holdings in Oracle were worth $7,577,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Oracle in the 4th quarter worth approximately $947,274,000. Aaron Wealth Advisors LLC boosted its stake in Oracle by 26,472.9% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,381,465 shares of the enterprise software provider’s stock worth $28,786,000 after purchasing an additional 2,372,503 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Oracle by 93.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,068,310 shares of the enterprise software provider’s stock worth $336,571,000 after purchasing an additional 1,967,853 shares in the last quarter. Nordea Investment Management AB boosted its stake in Oracle by 44.3% in the 1st quarter. Nordea Investment Management AB now owns 6,366,409 shares of the enterprise software provider’s stock worth $531,468,000 after purchasing an additional 1,953,713 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Oracle by 1.6% in the 4th quarter. BlackRock Inc. now owns 119,247,252 shares of the enterprise software provider’s stock worth $10,399,550,000 after purchasing an additional 1,886,260 shares in the last quarter. Hedge funds and other institutional investors own 41.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ORCL shares. Morgan Stanley boosted their target price on shares of Oracle from $88.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 20th. Piper Sandler reissued a “hold” rating and issued a $70.00 price target on shares of Oracle in a report on Tuesday, September 13th. Citigroup set a $81.00 price target on shares of Oracle in a report on Monday, June 20th. Cowen cut their price target on shares of Oracle from $107.00 to $98.00 and set an “outperform” rating for the company in a report on Thursday, June 9th. Finally, Berenberg Bank assumed coverage on shares of Oracle in a report on Wednesday, September 14th. They issued a “hold” rating and a $72.00 price target for the company. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $88.67.

Oracle Trading Down 3.1 %

Shares of ORCL stock traded down $2.07 during mid-day trading on Friday, reaching $63.96. The stock had a trading volume of 297,210 shares, compared to its average volume of 9,975,058. Oracle Co. has a 12-month low of $63.76 and a 12-month high of $106.34. The company has a market cap of $172.41 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 2.02 and a beta of 0.87. The business has a 50-day simple moving average of $74.89 and a 200 day simple moving average of $74.58.

Oracle (NYSE:ORCLGet Rating) last posted its quarterly earnings data on Monday, September 12th. The enterprise software provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.07). The company had revenue of $11.45 billion for the quarter, compared to analysts’ expectations of $11.44 billion. Oracle had a negative return on equity of 161.07% and a net margin of 13.15%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 EPS. Research analysts anticipate that Oracle Co. will post 4.13 EPS for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Wednesday, October 12th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Tuesday, October 11th. Oracle’s dividend payout ratio is currently 60.95%.

Insider Activity

In related news, insider Edward Screven sold 419,174 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $69.22, for a total transaction of $29,015,224.28. Following the transaction, the insider now directly owns 2,492,613 shares of the company’s stock, valued at approximately $172,538,671.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 39.10% of the company’s stock.

About Oracle

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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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

Further Reading

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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