Agate Pass Investment Management LLC Grows Holdings in Oracle Co. (NYSE:ORCL)

Agate Pass Investment Management LLC raised its stake in Oracle Co. (NYSE:ORCL) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,466 shares of the enterprise software provider’s stock after acquiring an additional 1,004 shares during the quarter. Oracle makes up 1.4% of Agate Pass Investment Management LLC’s holdings, making the stock its 24th biggest position. Agate Pass Investment Management LLC’s holdings in Oracle were worth $2,571,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC bought a new stake in Oracle during the 1st quarter worth approximately $25,000. Orion Capital Management LLC purchased a new stake in Oracle during the 3rd quarter valued at $25,000. Spartan Planning & Wealth Management purchased a new stake in Oracle during the 3rd quarter valued at $27,000. Tidemark LLC purchased a new stake in shares of Oracle in the 4th quarter worth about $29,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Oracle in the 4th quarter worth about $30,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Price Performance

Shares of ORCL traded up $2.15 during midday trading on Thursday, reaching $140.38. The stock had a trading volume of 2,133,152 shares, compared to its average volume of 8,540,880. The firm’s 50 day moving average price is $124.23 and its 200-day moving average price is $117.62. The company has a market capitalization of $386.87 billion, a P/E ratio of 37.88, a P/E/G ratio of 2.52 and a beta of 1.01. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.71 and a quick ratio of 0.72. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $145.32.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). Oracle had a net margin of 19.76% and a return on equity of 223.01%. The business had revenue of $14.29 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the firm posted $1.35 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that Oracle Co. will post 5.01 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.14%. Oracle’s dividend payout ratio is presently 43.13%.

Insider Buying and Selling at Oracle

In other news, Director Jeffrey Berg sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $143.12, for a total value of $3,220,200.00. Following the completion of the transaction, the director now directly owns 210,712 shares of the company’s stock, valued at approximately $30,157,101.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Jeffrey Berg sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $143.12, for a total value of $3,220,200.00. Following the transaction, the director now directly owns 210,712 shares in the company, valued at $30,157,101.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George H. Conrades sold 20,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $116.00, for a total transaction of $2,320,000.00. Following the completion of the sale, the director now owns 17,836 shares in the company, valued at $2,068,976. The disclosure for this sale can be found here. Insiders sold a total of 348,418 shares of company stock valued at $47,784,717 in the last quarter. Corporate insiders own 42.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ORCL shares. Morgan Stanley reiterated an “equal weight” rating and issued a $125.00 price target on shares of Oracle in a research note on Tuesday. Oppenheimer initiated coverage on shares of Oracle in a report on Thursday, April 18th. They issued a “market perform” rating on the stock. William Blair raised shares of Oracle from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 12th. Argus lifted their price objective on shares of Oracle from $145.00 to $159.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, Stifel Nicolaus boosted their price target on shares of Oracle from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, June 12th. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $145.83.

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.