Summit Asset Management LLC Has $577,000 Stock Position in Oracle Co. (NYSE:ORCL)

Summit Asset Management LLC raised its holdings in Oracle Co. (NYSE:ORCL) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,384 shares of the enterprise software provider’s stock after acquiring an additional 180 shares during the quarter. Summit Asset Management LLC’s holdings in Oracle were worth $577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ORCL. Janus Henderson Group PLC increased its position in shares of Oracle by 148.8% during the first quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock worth $1,616,855,000 after buying an additional 7,699,141 shares during the period. PineStone Asset Management Inc. increased its position in shares of Oracle by 131.2% during the second quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock worth $552,262,000 after buying an additional 2,219,450 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Oracle by 97.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,242,647 shares of the enterprise software provider’s stock worth $532,920,000 after buying an additional 2,093,893 shares during the period. International Assets Investment Management LLC increased its position in shares of Oracle by 16,023.4% during the third quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider’s stock worth $351,890,000 after buying an additional 2,052,275 shares during the period. Finally, Altshuler Shaham Ltd boosted its stake in Oracle by 5,853.1% during the second quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider’s stock worth $219,224,000 after acquiring an additional 1,526,500 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Price Performance

ORCL stock opened at $189.62 on Thursday. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. Oracle Co. has a one year low of $99.26 and a one year high of $191.77. The stock has a market cap of $525.45 billion, a PE ratio of 48.87, a P/E/G ratio of 3.49 and a beta of 1.02. The firm has a 50 day simple moving average of $169.43 and a two-hundred day simple moving average of $145.54.

Oracle (NYSE:ORCL) last released 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 business had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.84%. Oracle’s dividend payout ratio (DPR) is 41.24%.

Insider Activity 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 shares were 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 directly owns 42,889 shares in the company, valued at $7,076,685. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 42.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ORCL has been the topic of several research analyst reports. Mizuho increased their target price on shares of Oracle from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Melius Research upgraded shares of Oracle from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Oppenheimer restated a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Bank of America raised their price objective on shares of Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Finally, DA Davidson raised their price objective on shares of Oracle from $105.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.52.

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.