Covestor Ltd Buys 347 Shares of Oracle Co. (NYSE:ORCL)

Covestor Ltd increased its holdings in shares of Oracle Co. (NYSE:ORCL) by 35.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,329 shares of the enterprise software provider’s stock after purchasing an additional 347 shares during the quarter. Covestor Ltd’s holdings in Oracle were worth $167,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ORCL. Westend Capital Management LLC bought a new stake in Oracle during the 1st quarter valued at $25,000. Tidemark LLC purchased a new stake in Oracle during the 4th quarter valued at about $29,000. Nordwand Advisors LLC purchased a new stake in Oracle during the 4th quarter valued at about $30,000. Frank Rimerman Advisors LLC purchased a new stake in Oracle during the 4th quarter valued at about $30,000. Finally, Alaska Permanent Fund Corp acquired a new position in shares of Oracle in the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of analyst reports. UBS Group upped their price target on Oracle from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price objective on shares of Oracle in a research report on Friday, July 12th. StockNews.com cut Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. DA Davidson restated a “neutral” rating and set a $105.00 price target on shares of Oracle in a research note on Wednesday, June 12th. Finally, Argus increased their price objective on Oracle from $145.00 to $159.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.83.

Insider Activity at Oracle

In other Oracle news, insider Edward Screven sold 235,918 shares of Oracle stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the sale, the insider now directly owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Oracle news, insider Edward Screven sold 235,918 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the sale, the insider now directly owns 2,626,764 shares of the company’s stock, valued at approximately $379,042,045.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George H. Conrades sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $116.13, for a total transaction of $2,903,250.00. Following the transaction, the director now directly owns 17,836 shares of the company’s stock, valued at $2,071,294.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,952,500 shares of company stock worth $277,298,174 over the last quarter. Company insiders own 42.80% of the company’s stock.

Oracle Stock Performance

NYSE:ORCL traded up $2.50 during mid-day trading on Tuesday, hitting $142.67. The stock had a trading volume of 2,227,340 shares, compared to its average volume of 8,497,469. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $146.59. The stock has a market cap of $393.18 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.51 and a beta of 1.02. The company’s 50 day simple moving average is $133.65 and its 200 day simple moving average is $122.42. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71.

Oracle (NYSE:ORCL) last announced its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.02). The business had revenue of $14.29 billion for the quarter, compared to the consensus estimate of $14.57 billion. Oracle had a return on equity of 223.01% and a net margin of 19.76%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.35 earnings per share. On average, equities research analysts forecast that Oracle Co. will post 5.02 earnings per share for the current year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.12%. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

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.