Shorepoint Capital Partners LLC Takes $1.21 Million Position in Oracle Corporation $ORCL

Shorepoint Capital Partners LLC purchased a new position in Oracle Corporation (NYSE:ORCL) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 4,300 shares of the enterprise software provider’s stock, valued at approximately $1,209,000.

Several other hedge funds have also recently added to or reduced their stakes in ORCL. Norges Bank purchased a new stake in shares of Oracle during the second quarter worth $4,275,378,000. Vanguard Group Inc. grew its stake in Oracle by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 164,278,874 shares of the enterprise software provider’s stock valued at $35,916,290,000 after acquiring an additional 3,353,461 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Oracle in the 2nd quarter valued at about $731,512,000. Invesco Ltd. lifted its stake in Oracle by 42.1% in the 2nd quarter. Invesco Ltd. now owns 8,839,166 shares of the enterprise software provider’s stock worth $1,932,507,000 after purchasing an additional 2,619,722 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Oracle by 840.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,119,473 shares of the enterprise software provider’s stock worth $463,380,000 after purchasing an additional 1,894,157 shares during the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group upped their target price on Oracle from $360.00 to $400.00 and gave the company a “buy” rating in a report on Friday, October 17th. Cowen reissued a “buy” rating on shares of Oracle in a report on Thursday, December 4th. Robert W. Baird reduced their target price on shares of Oracle from $365.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 18th. Baird R W upgraded Oracle to a “strong-buy” rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company initiated coverage on Oracle in a report on Wednesday, December 3rd. They set an “overweight” rating and a $280.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $302.92.

Insider Activity at Oracle

In related news, EVP Stuart Levey sold 19,758 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $300.00, for a total value of $5,927,400.00. Following the sale, the executive vice president owned 18,429 shares of the company’s stock, valued at $5,528,700. This trade represents a 51.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clayton M. Magouyrk sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $276.64, for a total transaction of $11,065,600.00. Following the transaction, the chief executive officer owned 154,030 shares of the company’s stock, valued at $42,610,859.20. This trade represents a 20.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 155,190 shares of company stock worth $45,279,001 over the last quarter. 40.90% of the stock is currently owned by insiders.

Oracle Trading Down 2.7%

NYSE ORCL opened at $184.79 on Tuesday. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $526.80 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 1.82 and a beta of 1.66. The firm has a 50 day simple moving average of $243.44 and a 200-day simple moving average of $242.09. Oracle Corporation has a one year low of $118.86 and a one year high of $345.72.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, December 10th. The enterprise software provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.62. The firm had revenue of $16.06 billion for the quarter, compared to the consensus estimate of $16.19 billion. Oracle had a net margin of 25.28% and a return on equity of 70.60%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 EPS. Equities research analysts anticipate that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be issued a $0.50 dividend. The ex-dividend date is Friday, January 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. Oracle’s dividend payout ratio (DPR) is 37.59%.

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.