Oracle Corporation (NYSE:ORCL) Shares Acquired by Summit X LLC

Summit X LLC raised its stake in shares of Oracle Corporation (NYSE:ORCL) by 70.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 11,178 shares of the enterprise software provider’s stock after purchasing an additional 4,621 shares during the quarter. Summit X LLC’s holdings in Oracle were worth $1,563,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Oracle in the 4th quarter worth about $2,216,314,000. GAMMA Investing LLC grew its stake in shares of Oracle by 15,012.3% in the 1st quarter. GAMMA Investing LLC now owns 4,755,096 shares of the enterprise software provider’s stock worth $664,810,000 after purchasing an additional 4,723,631 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Oracle by 20.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider’s stock worth $2,303,858,000 after purchasing an additional 2,350,448 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Oracle by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 157,411,949 shares of the enterprise software provider’s stock worth $26,231,127,000 after purchasing an additional 2,296,069 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of Oracle by 268.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,077,947 shares of the enterprise software provider’s stock worth $512,909,000 after buying an additional 2,242,520 shares during the period. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Trading Up 2.5%

NYSE:ORCL opened at $234.97 on Wednesday. The business’s 50-day moving average is $190.49 and its two-hundred day moving average is $167.32. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $241.44. The firm has a market capitalization of $659.99 billion, a PE ratio of 54.14, a price-to-earnings-growth ratio of 3.43 and a beta of 1.39.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the company earned $1.63 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, July 10th. Oracle’s dividend payout ratio is currently 46.08%.

Insider Transactions at Oracle

In related news, Director Naomi O. Seligman sold 2,866 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the completion of the sale, the director directly owned 31,764 shares of the company’s stock, valued at $4,749,670.92. The trade was a 8.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the transaction, the executive vice president owned 40,807 shares of the company’s stock, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 445,366 shares of company stock valued at $84,784,653 over the last 90 days. Corporate insiders own 42.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group set a $250.00 price target on shares of Oracle and gave the stock a “buy” rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. lifted their price target on shares of Oracle from $135.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, June 12th. Stifel Nicolaus raised shares of Oracle from a “hold” rating to a “buy” rating and lifted their price target for the company from $180.00 to $250.00 in a research report on Monday, June 30th. KeyCorp boosted their target price on shares of Oracle from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, June 12th. Finally, Cowen reiterated a “buy” rating on shares of Oracle in a research note on Thursday, June 12th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and a consensus target price of $211.37.

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.