Founders Grove Wealth Partners LLC boosted its stake in Oracle Corporation (NYSE:ORCL – Free Report) by 5.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,796 shares of the enterprise software provider’s stock after purchasing an additional 97 shares during the quarter. Founders Grove Wealth Partners LLC’s holdings in Oracle were worth $393,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of ORCL. Vanguard Group Inc. grew its stake in Oracle by 2.2% during the first quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider’s stock worth $22,498,982,000 after buying an additional 3,513,464 shares during the period. Northern Trust Corp grew its stake in Oracle by 0.6% during the first quarter. Northern Trust Corp now owns 19,741,423 shares of the enterprise software provider’s stock worth $2,760,048,000 after buying an additional 120,889 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Oracle by 0.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,884,524 shares of the enterprise software provider’s stock worth $1,941,195,000 after buying an additional 59,164 shares during the period. Amundi grew its stake in Oracle by 3.3% during the first quarter. Amundi now owns 12,736,855 shares of the enterprise software provider’s stock worth $1,749,280,000 after buying an additional 409,691 shares during the period. Finally, Polen Capital Management LLC grew its stake in Oracle by 17.6% during the first quarter. Polen Capital Management LLC now owns 12,609,101 shares of the enterprise software provider’s stock worth $1,762,878,000 after buying an additional 1,885,370 shares during the period. 42.44% of the stock is currently owned by hedge funds and other institutional investors.
Oracle Trading Up 5.2%
ORCL opened at $308.14 on Tuesday. The stock has a market capitalization of $878.43 billion, a PE ratio of 71.33, a P/E/G ratio of 3.15 and a beta of 1.53. The firm’s fifty day moving average price is $267.80 and its 200 day moving average price is $211.91. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.62. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $345.72.
Oracle Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $2.00 annualized dividend and a yield of 0.6%. Oracle’s dividend payout ratio is currently 46.30%.
Insider Activity at Oracle
In other Oracle news, Director William G. Parrett sold 11,500 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $306.00, for a total transaction of $3,519,000.00. Following the sale, the director directly owned 17,764 shares of the company’s stock, valued at approximately $5,435,784. This represents a 39.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael D. Sicilia sold 33,845 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $321.16, for a total transaction of $10,869,660.20. Following the completion of the transaction, the insider owned 132,656 shares in the company, valued at approximately $42,603,800.96. The trade was a 20.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,314 shares of company stock valued at $31,272,223. Insiders own 40.90% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Guggenheim boosted their price objective on shares of Oracle from $250.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Melius Research upped their target price on shares of Oracle from $270.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Baird R W upgraded shares of Oracle to a “strong-buy” rating in a research note on Wednesday, October 8th. William Blair restated an “outperform” rating on shares of Oracle in a research note on Monday, September 22nd. Finally, Bank of America upgraded shares of Oracle from a “neutral” rating to a “buy” rating and upped their target price for the company from $295.00 to $368.00 in a research note on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $307.00.
Read Our Latest Stock Report on Oracle
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.
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