Ignite Planners LLC Grows Stock Holdings in Oracle Co. (NYSE:ORCL)

Ignite Planners LLC lifted its stake in Oracle Co. (NYSE:ORCL) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,860 shares of the enterprise software provider’s stock after acquiring an additional 156 shares during the period. Ignite Planners LLC’s holdings in Oracle were worth $328,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sunburst Financial Group LLC bought a new stake in Oracle during the second quarter valued at $241,000. Juncture Wealth Strategies LLC bought a new stake in shares of Oracle during the 2nd quarter worth $249,000. Thrive Wealth Management LLC grew its position in Oracle by 2.9% in the second quarter. Thrive Wealth Management LLC now owns 6,790 shares of the enterprise software provider’s stock worth $809,000 after acquiring an additional 189 shares in the last quarter. Buckingham Capital Management Inc. increased its stake in Oracle by 350.7% in the second quarter. Buckingham Capital Management Inc. now owns 11,061 shares of the enterprise software provider’s stock valued at $1,317,000 after acquiring an additional 8,607 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its position in Oracle by 168.7% during the second quarter. FNY Investment Advisers LLC now owns 403 shares of the enterprise software provider’s stock valued at $47,000 after purchasing an additional 253 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Oracle

In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,750,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $120.95, for a total transaction of $211,662,500.00. Following the completion of the sale, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $138,576,328,095.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Oracle news, EVP Maria Smith sold 1,320 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $116.78, for a total transaction of $154,149.60. Following the completion of the sale, the executive vice president now directly owns 20,280 shares of the company’s stock, valued at approximately $2,368,298.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Lawrence Joseph Ellison sold 1,750,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $120.95, for a total value of $211,662,500.00. Following the completion of the sale, the chairman now owns 1,145,732,353 shares in the company, valued at $138,576,328,095.35. The disclosure for this sale can be found here. Insiders have sold 1,845,000 shares of company stock worth $222,934,550 in the last quarter. Company insiders own 43.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup upped their price objective on Oracle from $121.00 to $138.00 and gave the stock a “neutral” rating in a report on Monday, September 11th. Wolfe Research lifted their price target on shares of Oracle from $130.00 to $140.00 in a research note on Tuesday, June 13th. Stifel Nicolaus upped their price objective on shares of Oracle from $84.00 to $120.00 in a research note on Tuesday, June 13th. Barclays decreased their target price on shares of Oracle from $150.00 to $147.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 12th. Finally, DA Davidson cut their price target on shares of Oracle from $115.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, September 12th. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $123.06.

Oracle Trading Down 1.5 %

NYSE:ORCL opened at $112.22 on Tuesday. The stock has a market cap of $307.46 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.98 and a beta of 1.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 29.72. The company’s 50 day moving average price is $117.28 and its 200-day moving average price is $106.40. Oracle Co. has a 52 week low of $60.78 and a 52 week high of $127.54.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 11th. The enterprise software provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Oracle had a negative return on equity of 470.73% and a net margin of 18.40%. The business had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same quarter last year, the company earned $0.81 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Oracle Co. will post 4.49 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Thursday, October 12th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Wednesday, October 11th. Oracle’s payout ratio is currently 47.62%.

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.