CoreCap Advisors LLC Acquires New Position in Oracle Co. (NYSE:ORCL)

CoreCap Advisors LLC purchased a new stake in shares of Oracle Co. (NYSE:ORCL) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,941 shares of the enterprise software provider’s stock, valued at approximately $1,686,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ORCL. SYM FINANCIAL Corp raised its holdings in shares of Oracle by 10.4% during the second quarter. SYM FINANCIAL Corp now owns 3,524 shares of the enterprise software provider’s stock worth $498,000 after purchasing an additional 332 shares during the last quarter. Client 1ST Advisory Group LLC acquired a new stake in Oracle in the 2nd quarter worth about $208,000. HBK Sorce Advisory LLC lifted its position in shares of Oracle by 3.3% in the second quarter. HBK Sorce Advisory LLC now owns 18,949 shares of the enterprise software provider’s stock valued at $2,676,000 after acquiring an additional 597 shares in the last quarter. Scarborough Advisors LLC raised its stake in Oracle by 13.9% in the 2nd quarter. Scarborough Advisors LLC now owns 704 shares of the enterprise software provider’s stock valued at $99,000 after purchasing an additional 86 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Oracle by 412.8% during the 2nd quarter. Federated Hermes Inc. now owns 257,573 shares of the enterprise software provider’s stock worth $36,369,000 after purchasing an additional 207,340 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Price Performance

Shares of ORCL stock opened at $161.36 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $162.34. The firm has a fifty day simple moving average of $139.50 and a 200-day simple moving average of $129.55. The company has a market capitalization of $447.12 billion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 2.89 and a beta of 1.01.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. During the same period in the previous year, the business earned $0.95 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Oracle Co. will post 5.03 earnings per share for the current fiscal year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ORCL. Mizuho upped their price objective on shares of Oracle from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Tuesday. Piper Sandler lifted their target price on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday. DA Davidson increased their target price on Oracle from $105.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday. Evercore ISI boosted their price target on shares of Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, TD Cowen increased their price target on Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.68.

Insider Buying and Selling

In other Oracle news, insider Edward Screven sold 235,918 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $144.30, for a total value of $34,042,967.40. Following the sale, the insider now directly owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Edward Screven sold 235,918 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $144.30, for a total value 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Berg sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $143.12, for a total value of $3,220,200.00. Following the transaction, the director now owns 210,712 shares of the company’s stock, valued at approximately $30,157,101.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,862,500 shares of company stock valued at $266,776,624. Insiders own 42.80% of the company’s stock.

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.