Summit Asset Management LLC Acquires 180 Shares of Oracle Co. (NYSE:ORCL)

Summit Asset Management LLC increased its holdings in Oracle Co. (NYSE:ORCL) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,384 shares of the enterprise software provider’s stock after acquiring an additional 180 shares during the quarter. Summit Asset Management LLC’s holdings in Oracle were worth $577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Oracle by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 151,213,890 shares of the enterprise software provider’s stock valued at $18,993,977,000 after purchasing an additional 1,514,569 shares during the last quarter. Capital World Investors boosted its holdings in shares of Oracle by 0.4% during the 1st quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock valued at $2,319,604,000 after acquiring an additional 82,551 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Oracle by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 13,242,340 shares of the enterprise software provider’s stock valued at $1,869,816,000 after acquiring an additional 296,866 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Oracle by 148.8% during the 1st quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after acquiring an additional 7,699,141 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Oracle by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,318,962 shares of the enterprise software provider’s stock valued at $1,033,430,000 after acquiring an additional 424,500 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

Oracle Price Performance

ORCL stock opened at $189.62 on Thursday. Oracle Co. has a one year low of $99.26 and a one year high of $191.77. The company’s fifty day moving average price is $169.43 and its 200-day moving average price is $145.54. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $525.45 billion, a PE ratio of 48.87, a price-to-earnings-growth ratio of 3.49 and a beta of 1.02.

Oracle (NYSE:ORCL) last released its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The firm had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s payout ratio is 41.24%.

Insider Activity at Oracle

In related news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at $7,076,685. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 42.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ORCL shares. Sanford C. Bernstein raised their price target on shares of Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Piper Sandler raised their price objective on shares of Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Melius Research raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Oppenheimer reissued a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Finally, Mizuho raised their price objective on shares of Oracle from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.52.

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.