Oppenheimer Asset Management Inc. Has $48.81 Million Stock Position in Oracle Co. (NYSE:ORCL)

Oppenheimer Asset Management Inc. raised its position in shares of Oracle Co. (NYSE:ORCL) by 79.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 286,460 shares of the enterprise software provider’s stock after purchasing an additional 126,985 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Oracle were worth $48,813,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in Oracle during the second quarter worth approximately $27,000. POM Investment Strategies LLC acquired a new stake in shares of Oracle during the 2nd quarter worth approximately $30,000. Bbjs Financial Advisors LLC bought a new stake in shares of Oracle in the 2nd quarter valued at $35,000. Reston Wealth Management LLC acquired a new position in shares of Oracle during the 3rd quarter valued at $44,000. Finally, Quest Partners LLC bought a new position in Oracle during the second quarter worth $40,000. Institutional investors own 42.44% of the company’s stock.

Analyst Ratings Changes

ORCL has been the subject of several research analyst reports. Melius raised shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research note on Monday, September 16th. Bank of America upped their price target on Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Citigroup upped their target price on Oracle from $140.00 to $157.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Guggenheim upped their price objective on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, UBS Group reiterated a “market outperform” rating on shares of Oracle in a report on Friday, October 18th. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $168.52.

Oracle Stock Performance

ORCL stock traded down $0.40 during mid-day trading on Wednesday, hitting $189.18. The company had a trading volume of 306,720 shares, compared to its average volume of 8,230,358. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $524.23 billion, a PE ratio of 48.87, a price-to-earnings-growth ratio of 3.49 and a beta of 1.02. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $191.50. The stock’s fifty day moving average price is $169.43 and its two-hundred day moving average price is $145.54.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion for the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. Oracle’s revenue was up 6.9% on a year-over-year basis. On average, analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.85%. Oracle’s payout ratio is 41.24%.

Insider Buying and Selling

In other news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at $7,076,685. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 42.20% of the stock is currently owned by insiders.

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.