Turtle Creek Wealth Advisors LLC acquired a new position in shares of Oracle Corporation (NYSE:ORCL – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,116 shares of the enterprise software provider’s stock, valued at approximately $1,119,000.
Other large investors have also made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new position in shares of Oracle during the 2nd quarter worth about $34,000. HighMark Wealth Management LLC acquired a new position in Oracle in the 2nd quarter valued at approximately $38,000. Redmont Wealth Advisors LLC acquired a new position in Oracle in the 1st quarter valued at approximately $27,000. Inlight Wealth Management LLC acquired a new position in Oracle in the 1st quarter valued at approximately $28,000. Finally, Iron Horse Wealth Management LLC raised its holdings in Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock valued at $29,000 after acquiring an additional 151 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.
Oracle Stock Up 1.4%
NYSE ORCL opened at $303.30 on Thursday. The firm has a market cap of $864.64 billion, a PE ratio of 70.21, a price-to-earnings-growth ratio of 3.22 and a beta of 1.53. Oracle Corporation has a one year low of $118.86 and a one year high of $345.72. The stock’s 50 day simple moving average is $269.61 and its 200 day simple moving average is $213.14. 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 Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $2.00 annualized dividend and a yield of 0.7%. Oracle’s dividend payout ratio is currently 46.30%.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on ORCL shares. DA Davidson upped their price target on Oracle from $220.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Wolfe Research upped their price target on Oracle from $300.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Rothschild Redb raised Oracle to a “strong sell” rating in a report on Thursday, September 25th. Rothschild & Co Redburn began coverage on Oracle in a report on Thursday, September 25th. They issued a “sell” rating and a $175.00 price target for the company. Finally, The Goldman Sachs Group upped their price objective on Oracle from $195.00 to $310.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Oracle currently has an average rating of “Moderate Buy” and an average price target of $307.00.
View Our Latest Analysis on Oracle
Insider Activity
In other Oracle news, Director William G. Parrett sold 11,500 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $306.00, for a total transaction of $3,519,000.00. Following the transaction, the director owned 17,764 shares of the company’s stock, valued at approximately $5,435,784. This represents a 39.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stuart Levey sold 19,758 shares of the company’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $300.00, for a total value of $5,927,400.00. Following the transaction, the executive vice president directly owned 18,429 shares in the company, valued at approximately $5,528,700. This represents a 51.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,769 shares of company stock worth $36,428,967. 40.90% of the stock is owned by company insiders.
About Oracle
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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