EWG Elevate Inc. Purchases Shares of 1,482 Oracle Co. (NYSE:ORCL)

Posted by James Conley on Mar 19th, 2023

EWG Elevate Inc. purchased a new stake in shares of Oracle Co. (NYSE:ORCL – Get Rating) during the fourth quarter, Holdings Channel.com reports. The firm purchased 1,482 shares of the enterprise software provider’s stock, valued at approximately $121,000.

Several other large investors have also made changes to their positions in the business. Roberts Wealth Advisors LLC boosted its holdings in shares of Oracle by 2.5% in the 4th quarter. Roberts Wealth Advisors LLC now owns 13,881 shares of the enterprise software provider’s stock valued at $1,162,000 after acquiring an additional 341 shares during the last quarter. Wilson & Boucher Capital Management LLC boosted its holdings in shares of Oracle by 3.1% in the 4th quarter. Wilson & Boucher Capital Management LLC now owns 17,730 shares of the enterprise software provider’s stock valued at $1,449,000 after acquiring an additional 530 shares during the last quarter. Carret Asset Management LLC boosted its holdings in shares of Oracle by 8.2% in the 4th quarter. Carret Asset Management LLC now owns 110,009 shares of the enterprise software provider’s stock valued at $8,992,000 after acquiring an additional 8,295 shares during the last quarter. Butensky & Cohen Financial Security Inc. boosted its holdings in shares of Oracle by 2.4% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 49,322 shares of the enterprise software provider’s stock valued at $4,032,000 after acquiring an additional 1,142 shares during the last quarter. Finally, American National Bank boosted its holdings in shares of Oracle by 0.7% in the 4th quarter. American National Bank now owns 19,225 shares of the enterprise software provider’s stock valued at $1,571,000 after acquiring an additional 126 shares during the last quarter. 40.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Rona Alison Fairhead sold 8,080 shares of the firm’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $89.82, for a total transaction of $725,745.60. Following the completion of the sale, the director now directly owns 11,197 shares in the company, valued at $1,005,714.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 43.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ORCL. Barclays upped their price objective on shares of Oracle from $81.00 to $85.00 in a report on Friday, March 10th. BMO Capital Markets increased their price target on shares of Oracle from $95.00 to $96.00 and gave the stock a “market perform” rating in a report on Friday, March 10th. Societe Generale downgraded shares of Oracle from a “buy” rating to a “hold” rating in a report on Friday, March 10th. They noted that the move was a valuation call. Cowen lowered their price target on shares of Oracle from $98.00 to $96.00 and set an “outperform” rating on the stock in a report on Tuesday, December 13th. Finally, Jefferies Financial Group set a $105.00 price target on shares of Oracle in a report on Friday, March 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Oracle presently has an average rating of “Moderate Buy” and a consensus target price of $95.06.

Oracle Stock Up 0.5 %

Shares of NYSE ORCL opened at $85.26 on Friday. The firm has a 50-day simple moving average of $87.66 and a 200-day simple moving average of $79.45. The stock has a market capitalization of $230.18 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 2.66 and a beta of 1.02. Oracle Co. has a 52 week low of $60.78 and a 52 week high of $91.22.

Oracle (NYSE:ORCL – Get Rating) last issued its earnings results on Thursday, March 9th. The enterprise software provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $12.42 billion. Oracle had a net margin of 17.46% and a negative return on equity of 262.40%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. As a group, equities research analysts expect that Oracle Co. will post 3.99 EPS for the current year.

Oracle Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 24th. Stockholders of record on Tuesday, April 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.88%. This is a boost from Oracle’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, April 10th. Oracle’s dividend payout ratio is 42.24%.

Oracle Company Profile

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Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.