Independence Bank of Kentucky Has $4.97 Million Stock Holdings in Oracle Co. (NYSE:ORCL)

Independence Bank of Kentucky lifted its holdings in shares of Oracle Co. (NYSE:ORCL) by 65.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,158 shares of the enterprise software provider’s stock after acquiring an additional 11,546 shares during the period. Oracle makes up 1.1% of Independence Bank of Kentucky’s holdings, making the stock its 20th biggest holding. Independence Bank of Kentucky’s holdings in Oracle were worth $4,969,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings 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 worth $18,993,977,000 after acquiring an additional 1,514,569 shares during the last quarter. Capital World Investors boosted its holdings in Oracle by 0.4% during the first quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock worth $2,319,604,000 after purchasing an additional 82,551 shares during the last quarter. Legal & General Group Plc grew its position in Oracle by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 13,242,340 shares of the enterprise software provider’s stock worth $1,869,816,000 after purchasing an additional 296,866 shares in the last quarter. Janus Henderson Group PLC increased its stake in Oracle by 148.8% in 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 buying an additional 7,699,141 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position 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 worth $1,033,430,000 after buying an additional 424,500 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of Oracle stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the sale, the chairman now owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Oracle news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the transaction, the executive vice president now owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the sale, the chairman now owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,146,320 shares of company stock valued at $164,762,400 over the last quarter. 42.20% of the stock is owned by company insiders.

Oracle Trading Up 0.6 %

Shares of ORCL traded up $1.05 during trading hours on Friday, hitting $176.46. The company had a trading volume of 386,934 shares, compared to its average volume of 8,508,280. The firm has a market cap of $488.98 billion, a P/E ratio of 45.23, a P/E/G ratio of 3.29 and a beta of 1.01. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $178.61. The stock’s 50 day moving average price is $150.79 and its 200 day moving average price is $136.43. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last issued 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. The company had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, research analysts predict that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.91%. Oracle’s dividend payout ratio is presently 41.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ORCL shares. BMO Capital Markets lifted their target price on Oracle from $160.00 to $173.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. Barclays boosted their target price on shares of Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Piper Sandler increased their target price on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. UBS Group boosted their target price on Oracle from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.42.

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.