Meeder Asset Management Inc. lifted its position in shares of Oracle Co. (NYSE:ORCL) by 621.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,905 shares of the enterprise software provider’s stock after acquiring an additional 109,305 shares during the period. Meeder Asset Management Inc.’s holdings in Oracle were worth $8,905,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Johnson Midwest Financial LLC bought a new stake in shares of Oracle in the 4th quarter worth approximately $26,000. RWM Asset Management LLC bought a new position in shares of Oracle during the fourth quarter worth about $30,000. Oder Investment Management LLC bought a new stake in Oracle in the 4th quarter valued at about $31,000. Cowa LLC bought a new position in Oracle in the 4th quarter worth about $30,000. Finally, Kathmere Capital Management LLC acquired a new stake in shares of Oracle in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 47.54% of the company’s stock.
In other news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $66.99, for a total value of $6,699,000.00. Following the transaction, the executive vice president now owns 100,000 shares of the company’s stock, valued at $6,699,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Safra Catz sold 1,150,000 shares of Oracle stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $66.31, for a total value of $76,256,500.00. Following the sale, the chief executive officer now directly owns 2,218,592 shares of the company’s stock, valued at approximately $147,114,835.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,508,000 shares of company stock worth $306,882,810. Insiders own 39.10% of the company’s stock.
Shares of NYSE:ORCL traded up $0.64 during trading on Tuesday, reaching $77.97. 355,916 shares of the stock were exchanged, compared to its average volume of 12,669,851. The stock has a fifty day moving average of $72.88 and a two-hundred day moving average of $64.35. Oracle Co. has a 1-year low of $50.86 and a 1-year high of $80.21. The company has a debt-to-equity ratio of 7.37, a current ratio of 2.17 and a quick ratio of 2.17. The firm has a market cap of $224.83 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.79 and a beta of 0.76.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Tuesday, March 9th. The enterprise software provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. Oracle had a return on equity of 101.26% and a net margin of 26.34%. The business had revenue of $10.09 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period in the prior year, the firm posted $0.97 EPS. Oracle’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Oracle Co. will post 3.86 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 22nd. Shareholders of record on Thursday, April 8th were given a $0.32 dividend. This is an increase from Oracle’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Wednesday, April 7th. Oracle’s dividend payout ratio (DPR) is currently 36.99%.
A number of analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Oracle from $67.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 17th. Societe Generale restated a “hold” rating on shares of Oracle in a research report on Wednesday, March 17th. Evercore ISI began coverage on Oracle in a report on Monday, March 22nd. They set an “in-line” rating and a $66.00 price target on the stock. Citigroup began coverage on shares of Oracle in a research report on Wednesday, March 3rd. They issued a “neutral” rating and a $65.00 price target for the company. Finally, Credit Suisse Group raised their price objective on shares of Oracle from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $71.36.
Oracle Corporation provides 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 enterprise resource planning (ERP) cloud, Oracle enterprise and performance management cloud, Oracle supply chain management cloud, Oracle human capital management cloud, Oracle customer experience cloud, and NetSuite application suite.
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