Cypress Capital Group cut its position in shares of Oracle Corporation (NYSE:ORCL – Free Report) by 2.9% during the second quarter, Holdings Channel reports. The institutional investor owned 11,253 shares of the enterprise software provider’s stock after selling 335 shares during the quarter. Cypress Capital Group’s holdings in Oracle were worth $2,460,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in Oracle during the first quarter worth about $732,692,000. Vanguard Group Inc. lifted 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 purchasing an additional 3,513,464 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Oracle during the second quarter worth about $731,512,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Oracle by 79.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,638,951 shares of the enterprise software provider’s stock worth $648,572,000 after purchasing an additional 2,049,687 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Oracle by 840.7% during the second quarter. Assenagon Asset Management S.A. now owns 2,119,473 shares of the enterprise software provider’s stock worth $463,380,000 after purchasing an additional 1,894,157 shares during the period. 42.44% of the stock is owned by institutional investors and hedge funds.
Oracle Stock Performance
NYSE:ORCL opened at $293.04 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.33. The stock has a market capitalization of $835.40 billion, a P/E ratio of 67.83, a price-to-earnings-growth ratio of 3.15 and a beta of 1.53. The firm has a 50 day moving average of $266.69 and a 200-day moving average of $210.74. Oracle Corporation has a 1 year low of $118.86 and a 1 year 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 dividend on an annualized basis and a dividend yield of 0.7%. Oracle’s dividend payout ratio (DPR) is currently 46.30%.
Insider Activity at Oracle
In related news, insider Michael D. Sicilia sold 33,845 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $321.16, for a total value of $10,869,660.20. Following the completion of the sale, the insider owned 132,656 shares of the company’s stock, valued at $42,603,800.96. This trade represents a 20.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Clayton M. Magouyrk sold 21,241 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $297.11, for a total transaction of $6,310,913.51. Following the completion of the sale, the insider directly owned 78,000 shares of the company’s stock, valued at approximately $23,174,580. This represents a 21.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,314 shares of company stock worth $31,272,223. 40.90% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have commented on ORCL. Raymond James Financial restated a “strong-buy” rating on shares of Oracle in a research note on Wednesday, June 18th. JPMorgan Chase & Co. raised their price target on shares of Oracle from $185.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, September 8th. Rothschild & Co Redburn initiated coverage on shares of Oracle in a research note on Thursday, September 25th. They set a “sell” rating and a $175.00 price target for the company. Piper Sandler lifted their target price on shares of Oracle from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, September 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of Oracle 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 issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $306.71.
Get Our Latest Stock Report 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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