SignalPoint Asset Management LLC Buys 287 Shares of Oracle Co. (NYSE:ORCL)

Posted by Kim Johansen on Aug 6th, 2022

SignalPoint Asset Management LLC raised its stake in shares of Oracle Co. (NYSE:ORCL – Get Rating) by 4.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,592 shares of the enterprise software provider’s stock after purchasing an additional 287 shares during the period. SignalPoint Asset Management LLC’s holdings in Oracle were worth $545,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Beaumont Financial Partners LLC boosted its stake in shares of Oracle by 19.1% in the first quarter. Beaumont Financial Partners LLC now owns 12,184 shares of the enterprise software provider’s stock worth $1,008,000 after acquiring an additional 1,955 shares during the period. SP Asset Management lifted its position in shares of Oracle by 0.5% in the first quarter. SP Asset Management now owns 113,758 shares of the enterprise software provider’s stock worth $9,411,000 after buying an additional 532 shares in the last quarter. Cypress Capital LLC lifted its position in shares of Oracle by 0.8% in the first quarter. Cypress Capital LLC now owns 297,394 shares of the enterprise software provider’s stock worth $24,603,000 after buying an additional 2,451 shares in the last quarter. Banco Santander S.A. lifted its position in shares of Oracle by 10.9% in the first quarter. Banco Santander S.A. now owns 253,279 shares of the enterprise software provider’s stock worth $20,954,000 after buying an additional 24,799 shares in the last quarter. Finally, Wealthsource Partners LLC lifted its position in shares of Oracle by 2.4% in the first quarter. Wealthsource Partners LLC now owns 22,745 shares of the enterprise software provider’s stock worth $1,882,000 after buying an additional 529 shares in the last quarter. Institutional investors own 42.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ORCL. Monness Crespi & Hardt decreased their target price on Oracle from $126.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, June 14th. Deutsche Bank Aktiengesellschaft set a $110.00 price objective on Oracle in a research report on Monday, June 20th. UBS Group set a $75.00 price objective on Oracle in a research report on Tuesday, June 14th. BNP Paribas upgraded Oracle from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Wednesday, June 29th. Finally, Daiwa Capital Markets decreased their price objective on Oracle from $87.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Oracle presently has a consensus rating of “Hold” and an average price target of $88.95.

Insider Buying and Selling

In other news, CEO Safra Catz sold 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $66.87, for a total transaction of $66,870,000.00. Following the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $74,800,247.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Edward Screven sold 419,174 shares of Oracle stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $69.22, for a total value of $29,015,224.28. Following the sale, the insider now directly owns 2,492,613 shares in the company, valued at approximately $172,538,671.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Safra Catz sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $66.87, for a total value of $66,870,000.00. Following the transaction, the chief executive officer now owns 1,118,592 shares in the company, valued at $74,800,247.04. The disclosure for this sale can be found here. Insiders sold 3,399,174 shares of company stock worth $232,369,224 in the last 90 days. Insiders own 39.10% of the company’s stock.

Oracle Price Performance

NYSE ORCL traded down $0.05 during midday trading on Friday, hitting $77.35. 4,858,132 shares of the company traded hands, compared to its average volume of 5,848,196. The company has a market cap of $206.13 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 2.19 and a beta of 0.87. The company’s 50-day simple moving average is $71.70 and its 200-day simple moving average is $75.58. Oracle Co. has a 52 week low of $63.76 and a 52 week high of $106.34.

Oracle (NYSE:ORCL – Get Rating) last announced its earnings results on Monday, June 13th. The enterprise software provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.14. Oracle had a negative return on equity of 193.58% and a net margin of 15.83%. The business had revenue of $11.84 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter last year, the firm earned $1.40 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts predict that Oracle Co. will post 4.43 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Tuesday, July 12th were paid a $0.32 dividend. The ex-dividend date was Monday, July 11th. This represents a $1.28 dividend on an annualized basis and a yield of 1.65%. Oracle’s dividend payout ratio (DPR) is 53.33%.

About Oracle

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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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.