E Fund Management Hong Kong Co. Ltd. purchased a new stake in Oracle Co. (NYSE:ORCL – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 356 shares of the enterprise software provider’s stock, valued at approximately $61,000.
Several other hedge funds and other institutional investors also recently modified their holdings of ORCL. KWB Wealth bought a new stake in Oracle during the 1st quarter worth $215,000. Ashton Thomas Private Wealth LLC grew its position in Oracle by 27.9% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 16,004 shares of the enterprise software provider’s stock worth $2,010,000 after acquiring an additional 3,494 shares during the last quarter. Norden Group LLC grew its position in Oracle by 7.9% during the 1st quarter. Norden Group LLC now owns 9,036 shares of the enterprise software provider’s stock worth $1,135,000 after acquiring an additional 665 shares during the last quarter. SeaBridge Investment Advisors LLC grew its position in Oracle by 91.8% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 14,221 shares of the enterprise software provider’s stock worth $1,786,000 after acquiring an additional 6,807 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in Oracle during the 1st quarter worth $2,432,000. Institutional investors own 42.44% of the company’s stock.
Insider Activity
In other news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. 42.20% of the stock is currently owned by corporate insiders.
Oracle Stock Performance
Oracle (NYSE:ORCL – Get Free Report) last released its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. The company had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. Oracle’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. Equities analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.
Oracle Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s dividend payout ratio is presently 41.24%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ORCL. Morgan Stanley boosted their price objective on Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Citigroup lifted their target price on Oracle from $140.00 to $157.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. KeyCorp lifted their target price on Oracle from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Oppenheimer reaffirmed a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Finally, BMO Capital Markets boosted their price objective on Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Twelve investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.52.
Read Our Latest Research Report on Oracle
About Oracle
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.
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