Kingdom Financial Group LLC. bought a new stake in Oracle Corporation (NYSE:ORCL – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,018 shares of the enterprise software provider’s stock, valued at approximately $223,000.
Several other large investors also recently bought and sold shares of ORCL. LGT Financial Advisors LLC purchased a new position in shares of Oracle in the 2nd quarter worth $33,000. Legend Financial Advisors Inc. purchased a new position in Oracle in the second quarter worth about $34,000. HighMark Wealth Management LLC bought a new stake in Oracle during the second quarter worth approximately $38,000. Moser Wealth Advisors LLC raised its position in Oracle by 1,770.0% during the second quarter. Moser Wealth Advisors LLC now owns 187 shares of the enterprise software provider’s stock valued at $41,000 after purchasing an additional 177 shares during the period. Finally, Orion Capital Management LLC raised its position in Oracle by 32.2% during the second quarter. Orion Capital Management LLC now owns 193 shares of the enterprise software provider’s stock valued at $42,000 after purchasing an additional 47 shares during the period. Institutional investors own 42.44% of the company’s stock.
Oracle Stock Up 0.5%
Shares of ORCL opened at $220.97 on Wednesday. The firm has a market capitalization of $629.93 billion, a P/E ratio of 51.15, a P/E/G ratio of 2.96 and a beta of 1.51. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $345.72. The firm has a fifty day moving average price of $278.80 and a 200-day moving average price of $235.46. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.33.
Oracle Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Thursday, October 9th were issued a $0.50 dividend. The ex-dividend date was Thursday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.9%. Oracle’s payout ratio is presently 46.30%.
Insider Buying and Selling
In other Oracle news, 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Berg sold 49,365 shares of the stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $283.02, for a total value of $13,971,282.30. Following the transaction, the director directly owned 151,999 shares in the company, valued at $43,018,756.98. The trade was a 24.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 204,254 shares of company stock valued at $60,227,807 over the last 90 days. 40.90% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of brokerages have recently commented on ORCL. DA Davidson lifted their target price on Oracle from $220.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Bank of America raised shares of Oracle from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $295.00 to $368.00 in a research note on Wednesday, September 10th. JPMorgan Chase & Co. boosted their price objective on shares of Oracle from $185.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, September 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $320.00 target price on shares of Oracle in a report on Monday, October 20th. Finally, Piper Sandler lifted their price target on shares of Oracle from $330.00 to $380.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $322.26.
Read Our Latest Analysis on ORCL
Oracle 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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