Oracle Corporation (NYSE:ORCL) Stock Position Lifted by Eastern Bank

Eastern Bank grew its position in Oracle Corporation (NYSE:ORCL) by 27.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 364,253 shares of the enterprise software provider’s stock after acquiring an additional 77,862 shares during the quarter. Oracle makes up approximately 1.0% of Eastern Bank’s holdings, making the stock its 28th largest position. Eastern Bank’s holdings in Oracle were worth $50,926,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ORCL. Brighton Jones LLC raised its stake in Oracle by 189.3% during the 4th quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock valued at $25,593,000 after acquiring an additional 100,494 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Oracle by 8.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock worth $903,000 after acquiring an additional 404 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Oracle by 200.4% in the 4th quarter. Wellington Management Group LLP now owns 172,483 shares of the enterprise software provider’s stock worth $28,743,000 after acquiring an additional 115,059 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Oracle by 128.3% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 36,525 shares of the enterprise software provider’s stock worth $6,087,000 after acquiring an additional 20,527 shares during the last quarter. Finally, Gibson Capital LLC grew its holdings in shares of Oracle by 4.7% in the 4th quarter. Gibson Capital LLC now owns 2,320 shares of the enterprise software provider’s stock worth $387,000 after acquiring an additional 105 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

Oracle Stock Performance

Shares of Oracle stock opened at $250.01 on Wednesday. The company has a market capitalization of $702.22 billion, a PE ratio of 57.60, a PEG ratio of 3.70 and a beta of 1.39. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $253.07. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The stock’s fifty day simple moving average is $207.98 and its 200 day simple moving average is $172.90.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS. On average, research analysts predict that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle’s dividend payout ratio is 46.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ORCL. Stifel Nicolaus upgraded 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 report on Monday, June 30th. CIBC reiterated a “buy” rating on shares of Oracle in a report on Monday, June 9th. Piper Sandler upgraded Oracle from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $190.00 to $270.00 in a report on Thursday, July 10th. Guggenheim lifted their price target on Oracle from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. Finally, TD Cowen lifted their price target on Oracle from $250.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Oracle has an average rating of “Moderate Buy” and a consensus target price of $218.29.

Insider Transactions at Oracle

In other Oracle news, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the sale, the executive vice president owned 40,807 shares of the company’s stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the sale, the director directly owned 31,447 shares in the company, valued at $7,337,214.04. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 448,669 shares of company stock worth $85,555,309. 42.20% of the stock is currently owned by company 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.