King Wealth Management Group Boosts Holdings in Oracle Co. (NYSE:ORCL)

King Wealth Management Group grew its stake in Oracle Co. (NYSE:ORCL) by 8.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,609 shares of the enterprise software provider’s stock after buying an additional 1,717 shares during the period. King Wealth Management Group’s holdings in Oracle were worth $3,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ORCL. Fairway Wealth LLC bought a new position in shares of Oracle in the second quarter worth about $27,000. POM Investment Strategies LLC bought a new stake in shares of Oracle in the 2nd quarter valued at approximately $30,000. Bbjs Financial Advisors LLC purchased a new position in Oracle during the second quarter worth $35,000. Reston Wealth Management LLC purchased a new stake in shares of Oracle in the third quarter worth approximately $44,000. Finally, Quest Partners LLC purchased a new stake in shares of Oracle during the second quarter valued at $40,000. Institutional investors own 42.44% of the company’s stock.

Analyst Ratings Changes

ORCL has been the subject of a number of recent research reports. Oppenheimer reissued a “market perform” rating on shares of Oracle in a research note on Tuesday, September 10th. StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, September 9th. UBS Group restated a “market outperform” rating on shares of Oracle in a research note on Friday, October 18th. Finally, Melius Research upgraded Oracle from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $168.52.

Insiders Place Their Bets

In related news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at $7,076,685. This represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 42.20% of the stock is owned by company insiders.

Oracle Trading Down 1.3 %

Shares of Oracle stock opened at $187.08 on Friday. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $191.77. 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 firm has a market capitalization of $518.41 billion, a price-to-earnings ratio of 48.22, a PEG ratio of 3.49 and a beta of 1.02. The stock has a 50 day moving average of $170.41 and a 200 day moving average of $145.85.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The business had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. During the same period last year, the business earned $0.95 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts predict that Oracle Co. will post 5 earnings per share for the current year.

Oracle Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.86%. Oracle’s payout ratio is 41.24%.

About Oracle

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.