Sound Income Strategies LLC Purchases 1,325 Shares of Oracle Co. (NYSE:ORCL)

Sound Income Strategies LLC grew its position in Oracle Co. (NYSE:ORCLGet Rating) by 93.4% in the 4th quarter, Holdings reports. The institutional investor owned 2,744 shares of the enterprise software provider’s stock after purchasing an additional 1,325 shares during the quarter. Sound Income Strategies LLC’s holdings in Oracle were worth $224,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Great West Life Assurance Co. Can purchased a new stake in shares of Oracle in the 3rd quarter worth approximately $236,318,000. Bessemer Group Inc. raised its stake in Oracle by 2,666.2% in the third quarter. Bessemer Group Inc. now owns 2,547,659 shares of the enterprise software provider’s stock worth $155,585,000 after buying an additional 2,455,560 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Oracle by 102.7% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,684,705 shares of the enterprise software provider’s stock worth $257,450,000 after buying an additional 1,866,463 shares during the period. Primecap Management Co. CA increased its holdings in shares of Oracle by 16.4% in the 2nd quarter. Primecap Management Co. CA now owns 12,019,801 shares of the enterprise software provider’s stock valued at $839,823,000 after acquiring an additional 1,693,271 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Oracle in the 2nd quarter worth $97,485,000. Institutional investors own 40.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. TheStreet raised Oracle from a “c” rating to a “b-” rating in a research report on Thursday, January 26th. 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. upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Friday, March 10th. DA Davidson began coverage on shares of Oracle in a research note on Tuesday, January 17th. They issued a “neutral” rating and a $85.00 target price for the company. Finally, BMO Capital Markets upped their price target on Oracle from $95.00 to $96.00 and gave the stock a “market perform” rating in a research report on Friday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.06.

Insider Activity at Oracle

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

Oracle Stock Performance

NYSE ORCL opened at $85.26 on Friday. Oracle Co. has a fifty-two week low of $60.78 and a fifty-two week high of $91.22. The firm has a market capitalization of $230.18 billion, a P/E ratio of 28.14, a PEG ratio of 2.66 and a beta of 1.02. The stock has a 50-day simple moving average of $87.66 and a two-hundred day simple moving average of $79.45.

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

Oracle Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 24th. Investors of record on Tuesday, April 11th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, April 10th. This is an increase from Oracle’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a yield of 1.88%. Oracle’s dividend payout ratio is 42.24%.

Oracle 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.

Further Reading

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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