Independence Bank of Kentucky Acquires 6,633 Shares of Oracle Co. (NYSE:ORCL)

Independence Bank of Kentucky grew its holdings in shares of Oracle Co. (NYSE:ORCL) by 60.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,612 shares of the enterprise software provider’s stock after acquiring an additional 6,633 shares during the period. Oracle comprises 0.7% of Independence Bank of Kentucky’s holdings, making the stock its 28th largest holding. Independence Bank of Kentucky’s holdings in Oracle were worth $2,487,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ORCL. Werlinich Asset Management LLC grew its holdings in shares of Oracle by 3.1% during the second quarter. Werlinich Asset Management LLC now owns 2,325 shares of the enterprise software provider’s stock valued at $326,000 after buying an additional 70 shares during the last quarter. RFP Financial Group LLC increased its holdings in Oracle by 2.7% during the 2nd quarter. RFP Financial Group LLC now owns 2,869 shares of the enterprise software provider’s stock worth $405,000 after purchasing an additional 75 shares in the last quarter. ERn Financial LLC raised its stake in shares of Oracle by 0.6% in the second quarter. ERn Financial LLC now owns 12,911 shares of the enterprise software provider’s stock worth $1,823,000 after purchasing an additional 80 shares during the last quarter. Abich Financial Wealth Management LLC boosted its position in shares of Oracle by 18.0% during the first quarter. Abich Financial Wealth Management LLC now owns 530 shares of the enterprise software provider’s stock valued at $67,000 after buying an additional 81 shares during the last quarter. Finally, Hoxton Planning & Management LLC raised its position in Oracle by 2.6% in the 2nd quarter. Hoxton Planning & Management LLC now owns 3,278 shares of the enterprise software provider’s stock valued at $463,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ORCL. Morgan Stanley reiterated an “equal weight” rating and issued a $125.00 target price on shares of Oracle in a research note on Tuesday, June 25th. Stifel Nicolaus boosted their price objective on Oracle from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Oracle from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Argus lifted their price target on shares of Oracle from $145.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $150.00 price objective on shares of Oracle in a report on Friday, July 12th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.83.

Oracle Trading Up 0.8 %

ORCL stock traded up $1.11 on Friday, reaching $139.19. The company’s stock had a trading volume of 4,544,571 shares, compared to its average volume of 8,163,030. The firm has a market cap of $383.59 billion, a PE ratio of 37.52, a PEG ratio of 2.49 and a beta of 1.02. The business has a fifty day simple moving average of $138.95 and a two-hundred day simple moving average of $126.63. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $146.59. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71.

Oracle (NYSE:ORCL) last posted its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.02). Oracle had a return on equity of 223.01% and a net margin of 19.76%. The company had revenue of $14.29 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the business posted $1.35 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts forecast that Oracle Co. will post 5.02 EPS for the current year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.60 annualized dividend and a yield of 1.15%. Oracle’s payout ratio is 43.13%.

Insiders Place Their Bets

In related news, insider Edward Screven sold 235,918 shares of Oracle stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $144.30, for a total transaction of $34,042,967.40. Following the completion of the transaction, the insider now directly owns 2,626,764 shares of the company’s stock, valued at approximately $379,042,045.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Oracle news, Director Leon E. Panetta sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the sale, the director now directly owns 58,090 shares in the company, valued at approximately $8,010,030.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Edward Screven sold 235,918 shares of Oracle stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $144.30, for a total transaction of $34,042,967.40. Following the completion of the transaction, the insider now directly owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,862,500 shares of company stock worth $266,776,624. 42.80% of the stock is owned by corporate 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.