SouthState Corp Increases Holdings in Oracle Co. (NYSE:ORCL)

SouthState Corp grew its holdings in shares of Oracle Co. (NYSE:ORCL) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,659 shares of the enterprise software provider’s stock after buying an additional 1,377 shares during the quarter. Oracle accounts for approximately 1.8% of SouthState Corp’s holdings, making the stock its 11th biggest holding. SouthState Corp’s holdings in Oracle were worth $27,439,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management raised its position in Oracle by 21.9% during the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock worth $53,000 after buying an additional 56 shares during the last quarter. Second Line Capital LLC raised its position in Oracle by 1.5% during the 3rd quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock worth $650,000 after buying an additional 58 shares during the last quarter. Cadence Bank raised its position in Oracle by 0.8% during the 3rd quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock worth $1,296,000 after buying an additional 59 shares during the last quarter. Requisite Capital Management LLC raised its position in Oracle by 2.8% during the 4th quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider’s stock worth $373,000 after buying an additional 60 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its position in Oracle by 4.4% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider’s stock worth $237,000 after buying an additional 60 shares during the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ORCL has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. UBS Group restated a “market perform” rating on shares of Oracle in a report on Tuesday, March 11th. Citigroup decreased their price target on shares of Oracle from $194.00 to $160.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Mizuho raised their target price on shares of Oracle from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, DA Davidson reissued a “neutral” rating and issued a $150.00 target price on shares of Oracle in a research report on Tuesday, March 11th. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.71.

Oracle Stock Up 1.2 %

Shares of NYSE:ORCL opened at $149.36 on Monday. The stock has a market capitalization of $417.76 billion, a price-to-earnings ratio of 36.52, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07. Oracle Co. has a 1-year low of $112.78 and a 1-year high of $198.31. The company’s fifty day moving average is $165.80 and its two-hundred day moving average is $169.85. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). The business had revenue of $14.13 billion for the quarter, compared to analyst estimates of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the company posted $1.41 earnings per share. Equities analysts anticipate that Oracle Co. will post 5 EPS for the current year.

Oracle Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. This is a positive change from Oracle’s previous quarterly dividend of $0.40. Oracle’s dividend payout ratio is currently 46.95%.

Insider Transactions at Oracle

In other news, CEO Safra Catz sold 345,174 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the completion of the transaction, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $207,565,931.52. This represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 42.20% of the company’s stock.

Oracle Company 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.