Precedent Wealth Partners LLC Invests $214,000 in Oracle Co. (NYSE:ORCL)

Precedent Wealth Partners LLC purchased a new stake in shares of Oracle Co. (NYSE:ORCL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,253 shares of the enterprise software provider’s stock, valued at approximately $214,000.

Several other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new position in shares of Oracle during the second quarter valued at approximately $27,000. Westend Capital Management LLC bought a new stake in Oracle in the first quarter valued at $25,000. POM Investment Strategies LLC purchased a new position in Oracle during the 2nd quarter valued at $30,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Oracle in the 2nd quarter worth about $35,000. Finally, Quest Partners LLC bought a new stake in shares of Oracle during the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Transactions at Oracle

In related news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the sale, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 42.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ORCL shares. Guggenheim increased their price target on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Evercore ISI increased their target price on Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. TD Cowen lifted their price target on Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. JMP Securities increased their price objective on Oracle from $175.00 to $205.00 and gave the stock a “market outperform” rating in a report on Friday. Finally, KeyCorp raised their price objective on Oracle from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.67.

Oracle Price Performance

NYSE ORCL opened at $174.72 on Friday. Oracle Co. has a one year low of $99.26 and a one year high of $178.61. The stock has a 50-day moving average of $156.29 and a 200 day moving average of $138.49. 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 company has a market capitalization of $484.16 billion, a price-to-earnings ratio of 45.03, a PEG ratio of 3.25 and a beta of 1.01.

Oracle (NYSE:ORCL) last announced 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. The firm had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 earnings per share. On average, sell-side analysts forecast that Oracle Co. will post 5 EPS for the current year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. Oracle’s payout ratio is 41.24%.

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.