Phraction Management LLC Makes New Investment in Oracle Corporation (NYSE:ORCL)

by · The Cerbat Gem

Phraction Management LLC acquired a new position in Oracle Corporation (NYSE:ORCL – Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,533 shares of the enterprise software provider’s stock, valued at approximately $214,000.

Several other hedge funds have also recently made changes to their positions in ORCL. Vanguard Group Inc. lifted its holdings in Oracle by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 157,411,949 shares of the enterprise software provider’s stock worth $26,231,127,000 after buying an additional 2,296,069 shares during the period. FMR LLC raised its position in shares of Oracle by 0.4% in the 4th quarter. FMR LLC now owns 38,002,902 shares of the enterprise software provider’s stock worth $6,332,803,000 after acquiring an additional 156,269 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Oracle by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 35,814,302 shares of the enterprise software provider’s stock valued at $5,954,961,000 after purchasing an additional 619,619 shares during the period. Franklin Resources Inc. grew its stake in Oracle by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 20,202,421 shares of the enterprise software provider’s stock worth $3,366,531,000 after purchasing an additional 1,722,037 shares during the period. Finally, Northern Trust Corp grew its stake in Oracle by 12.5% in the fourth quarter. Northern Trust Corp now owns 19,620,534 shares of the enterprise software provider’s stock worth $3,269,566,000 after purchasing an additional 2,176,892 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Stock Performance

ORCL stock opened at $219.12 on Wednesday. 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 1 year low of $118.86 and a 1 year high of $228.22. The company has a market cap of $615.47 billion, a P/E ratio of 50.49, a price-to-earnings-growth ratio of 3.28 and a beta of 1.39. The stock’s fifty day moving average price is $172.18 and its 200-day moving average price is $162.87.

Oracle (NYSE:ORCL – Get Free Report) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The company 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%. Oracle’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. On average, equities analysts forecast that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.91%. Oracle’s dividend payout ratio is currently 46.08%.

Insider Buying and Selling at Oracle

In related news, insider Clayton M. Magouyrk sold 15,000 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares of the company’s stock, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leon E. Panetta sold 17,500 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $151.24, for a total value of $2,646,700.00. Following the sale, the director directly owned 58,090 shares of the company’s stock, valued at $8,785,531.60. This represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,366 shares of company stock valued at $83,103,603 in the last ninety days. Corporate insiders own 42.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ORCL. JMP Securities set a $240.00 price objective on Oracle and gave the company a “market outperform” rating in a research report on Thursday, June 12th. Jefferies Financial Group lifted their price target on shares of Oracle from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Piper Sandler restated a “neutral” rating and issued a $130.00 price objective on shares of Oracle in a report on Wednesday, June 11th. Loop Capital set a $135.00 target price on shares of Oracle in a research note on Tuesday, June 10th. Finally, Citigroup reissued an “outperform” rating on shares of Oracle in a research report on Thursday, June 12th. Ten research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.26.

Check Out Our Latest Report on ORCL

Oracle Profile

(Free Report)

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.

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