Hidden Cove Wealth Management LLC Acquires New Holdings in Oracle Co. (NYSE:ORCL)

Hidden Cove Wealth Management LLC purchased a new stake in shares of Oracle Co. (NYSE:ORCL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,395 shares of the enterprise software provider’s stock, valued at approximately $232,000.

A number of other institutional investors also recently modified their holdings of the company. Activest Wealth Management grew its stake in Oracle by 21.9% in the third quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after purchasing an additional 56 shares in the last quarter. Second Line Capital LLC grew its stake in shares of Oracle by 1.5% in the third quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock valued at $650,000 after buying an additional 58 shares in the last quarter. Cadence Bank increased its holdings in Oracle by 0.8% during the third quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock worth $1,296,000 after buying an additional 59 shares during the last quarter. Requisite Capital Management LLC increased its holdings in Oracle by 2.8% during the fourth quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider’s stock worth $373,000 after buying an additional 60 shares during the last quarter. Finally, McLean Asset Management Corp raised its position in Oracle by 1.1% during the fourth quarter. McLean Asset Management Corp now owns 5,447 shares of the enterprise software provider’s stock worth $908,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 42.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup lifted their price objective on shares of Oracle from $157.00 to $194.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. BMO Capital Markets lifted their price target on Oracle from $173.00 to $205.00 and gave the stock a “market perform” rating in a report on Tuesday, December 10th. Piper Sandler upped their price objective on Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Stifel Nicolaus lifted their target price on Oracle from $155.00 to $175.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Finally, Mizuho increased their price target on Oracle from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $182.73.

Insider Buying and Selling

In related news, CEO Safra Catz sold 345,174 shares of Oracle stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the sale, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at approximately $207,565,931.52. The trade was a 23.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 42.20% of the stock is owned by corporate insiders.

Oracle Trading Down 2.8 %

Shares of Oracle stock opened at $172.30 on Thursday. The firm’s 50-day moving average price is $170.25 and its two-hundred day moving average price is $165.24. The company has a market capitalization of $481.92 billion, a price-to-earnings ratio of 42.13, a PEG ratio of 3.39 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle Co. has a 12-month low of $106.51 and a 12-month high of $198.31.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.01). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $14.12 billion. During the same quarter in the prior year, the business posted $1.34 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.93%. Oracle’s dividend payout ratio (DPR) is currently 39.12%.

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.