LGT Financial Advisors LLC bought a new stake in Oracle Corporation (NYSE:ORCL – Free Report) in the second quarter, HoldingsChannel reports. The fund bought 149 shares of the enterprise software provider’s stock, valued at approximately $33,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legend Financial Advisors Inc. purchased a new stake in shares of Oracle during the 2nd quarter valued at $34,000. HighMark Wealth Management LLC acquired a new position in Oracle in the second quarter valued at $38,000. Redmont Wealth Advisors LLC purchased a new stake in Oracle during the first quarter valued at about $27,000. Inlight Wealth Management LLC purchased a new stake in Oracle during the first quarter valued at about $28,000. Finally, Iron Horse Wealth Management LLC increased its stake in Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.
Oracle Price Performance
ORCL opened at $276.93 on Tuesday. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $345.72. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.33. The firm has a market cap of $789.47 billion, a price-to-earnings ratio of 64.10, a PEG ratio of 3.14 and a beta of 1.53. The company has a fifty day simple moving average of $272.19 and a 200 day simple moving average of $217.44.
Oracle Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, October 9th. This represents a $2.00 annualized dividend and a yield of 0.7%. Oracle’s payout ratio is currently 46.30%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ORCL. DA Davidson boosted their target price on Oracle from $220.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Baird R W upgraded shares of Oracle to a “strong-buy” rating in a research note on Wednesday, October 8th. TD Cowen increased their price objective on shares of Oracle from $325.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Robert W. Baird assumed coverage on shares of Oracle in a research note on Wednesday, October 8th. They issued an “outperform” rating and a $365.00 target price on the stock. Finally, Sanford C. Bernstein upped their price target on shares of Oracle from $363.00 to $364.00 and gave the stock an “outperform” rating in a research report on Friday, September 26th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $323.69.
View Our Latest Analysis on Oracle
Insider Buying and Selling
In other news, Director Naomi O. Seligman sold 2,222 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $288.91, for a total transaction of $641,958.02. Following the completion of the transaction, the director directly owned 29,225 shares in the company, valued at approximately $8,443,394.75. This represents a 7.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stuart Levey sold 19,758 shares of Oracle stock in a transaction on Friday, October 10th. The stock was sold at an average price of $300.00, for a total transaction of $5,927,400.00. Following the completion of the sale, the executive vice president owned 18,429 shares of the company’s stock, valued at approximately $5,528,700. This trade represents a 51.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 120,769 shares of company stock worth $36,428,967 over the last 90 days. 40.90% of the stock is currently owned by corporate insiders.
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.
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