Monetta Financial Services Inc. Purchases New Position in Oracle Co. (NYSE:ORCL)

Monetta Financial Services Inc. acquired a new position in Oracle Co. (NYSE:ORCL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,500 shares of the enterprise software provider’s stock, valued at approximately $1,059,000. Oracle accounts for about 0.9% of Monetta Financial Services Inc.’s holdings, making the stock its 25th largest position.

Other hedge funds have also bought and sold shares of the company. Westend Capital Management LLC purchased a new stake in shares of Oracle in the first quarter worth about $25,000. POM Investment Strategies LLC bought a new stake in Oracle during the 2nd quarter worth approximately $30,000. Bbjs Financial Advisors LLC purchased a new stake in Oracle in the 2nd quarter worth approximately $35,000. Tidemark LLC purchased a new stake in Oracle in the 4th quarter worth approximately $29,000. Finally, Frank Rimerman Advisors LLC bought a new position in Oracle in the 4th quarter valued at $30,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Leon E. Panetta sold 15,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total value of $2,068,350.00. Following the completion of the transaction, the director now owns 58,090 shares of the company’s stock, valued at approximately $8,010,030.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the completion of the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leon E. Panetta sold 15,000 shares of Oracle stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $137.89, for a total value of $2,068,350.00. Following the completion of the sale, the director now directly owns 58,090 shares in the company, valued at approximately $8,010,030.10. The disclosure for this sale can be found here. Insiders sold a total of 1,862,500 shares of company stock worth $266,776,624 over the last three months. 42.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein upped their price target on shares of Oracle from $159.00 to $171.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Jefferies Financial Group raised their price target on Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler boosted their price objective on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Barclays raised their target price on shares of Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Finally, UBS Group upped their price objective on Oracle from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Oracle Price Performance

NYSE ORCL opened at $170.37 on Tuesday. The stock has a market capitalization of $472.09 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 2.95 and a beta of 1.01. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The business’s fifty day moving average price is $140.35 and its 200-day moving average price is $130.57. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $173.99.

Oracle (NYSE:ORCL) last released its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same period in the previous year, the business earned $0.95 earnings per share. Oracle’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Oracle Co. will post 5.06 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, October 10th. Oracle’s payout ratio is 43.13%.

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.