49 Wealth Management LLC Boosts Stock Position in Oracle Co. (NYSE:ORCL)

49 Wealth Management LLC increased its stake in Oracle Co. (NYSE:ORCL) by 93.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,446 shares of the enterprise software provider’s stock after buying an additional 2,142 shares during the quarter. 49 Wealth Management LLC’s holdings in Oracle were worth $758,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ORCL. Lathrop Investment Management Corp boosted its stake in Oracle by 0.3% in the 3rd quarter. Lathrop Investment Management Corp now owns 63,910 shares of the enterprise software provider’s stock worth $10,890,000 after purchasing an additional 218 shares during the period. Activest Wealth Management boosted its position in shares of Oracle by 21.9% in the third quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after acquiring an additional 56 shares during the period. L & S Advisors Inc purchased a new position in Oracle during the third quarter valued at approximately $9,169,000. Pacer Advisors Inc. increased its holdings in Oracle by 13.9% during the 3rd quarter. Pacer Advisors Inc. now owns 168,174 shares of the enterprise software provider’s stock worth $28,657,000 after acquiring an additional 20,469 shares during the period. Finally, LPL Financial LLC lifted its stake in Oracle by 8.9% in the 3rd quarter. LPL Financial LLC now owns 1,612,950 shares of the enterprise software provider’s stock worth $274,847,000 after purchasing an additional 131,167 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ORCL shares. Morgan Stanley upped their price target on shares of Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Mizuho upped their price objective on shares of Oracle from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Oppenheimer reiterated a “market perform” rating on shares of Oracle in a research report on Tuesday, September 10th. Citigroup raised their price objective on shares of Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, KeyCorp upped their target price on shares of Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eleven equities research 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 currently has a consensus rating of “Moderate Buy” and an average price target of $169.52.

Oracle Stock Performance

Oracle stock opened at $192.81 on Friday. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $196.04. The firm has a market cap of $534.29 billion, a P/E ratio of 49.69, a P/E/G ratio of 3.48 and a beta of 1.02. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The firm has a 50-day moving average of $175.02 and a 200-day moving average of $148.68.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts expect that Oracle Co. will post 5 EPS for the current year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given 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 0.83%. Oracle’s payout ratio is 41.24%.

Insiders Place Their Bets

In other news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the sale, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 42.20% of the company’s stock.

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.