NewEdge Wealth LLC Acquires 2,095 Shares of Oracle Co. (NYSE:ORCL)

NewEdge Wealth LLC increased its holdings in shares of Oracle Co. (NYSE:ORCL) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,903 shares of the enterprise software provider’s stock after acquiring an additional 2,095 shares during the period. NewEdge Wealth LLC’s holdings in Oracle were worth $2,098,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Harvey Capital Management Inc. lifted its stake in shares of Oracle by 84.0% in the fourth quarter. Harvey Capital Management Inc. now owns 66,610 shares of the enterprise software provider’s stock worth $7,023,000 after buying an additional 30,415 shares in the last quarter. Citizens National Bank Trust Department lifted its position in Oracle by 5.3% during the fourth quarter. Citizens National Bank Trust Department now owns 17,505 shares of the enterprise software provider’s stock valued at $1,846,000 after purchasing an additional 875 shares during the period. Birch Hill Investment Advisors LLC lifted its position in Oracle by 1.2% during the fourth quarter. Birch Hill Investment Advisors LLC now owns 34,941 shares of the enterprise software provider’s stock valued at $3,684,000 after purchasing an additional 409 shares during the period. Hartford Financial Management Inc. lifted its position in Oracle by 2.0% during the fourth quarter. Hartford Financial Management Inc. now owns 29,693 shares of the enterprise software provider’s stock valued at $3,131,000 after purchasing an additional 569 shares during the period. Finally, Cornerstone Wealth Group LLC lifted its position in Oracle by 4.3% during the fourth quarter. Cornerstone Wealth Group LLC now owns 3,410 shares of the enterprise software provider’s stock valued at $359,000 after purchasing an additional 141 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ORCL has been the topic of a number of research analyst reports. Argus upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. BMO Capital Markets increased their price objective on shares of Oracle from $126.00 to $142.00 and gave the company a “market perform” rating in a research report on Tuesday, March 12th. Erste Group Bank reiterated a “hold” rating on shares of Oracle in a research report on Friday, December 22nd. The Goldman Sachs Group increased their price target on shares of Oracle from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Finally, Piper Sandler decreased their price target on shares of Oracle from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 2nd. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.76.

Oracle Stock Performance

ORCL opened at $121.11 on Monday. The stock has a market capitalization of $332.87 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 2.34 and a beta of 1.01. The company has a fifty day moving average of $119.08 and a 200 day moving average of $112.53. Oracle Co. has a fifty-two week low of $93.29 and a fifty-two week high of $132.77. The company has a debt-to-equity ratio of 13.34, a quick ratio of 0.85 and a current ratio of 0.85.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, March 11th. The enterprise software provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.04. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Oracle had a net margin of 20.27% and a return on equity of 336.11%. Oracle’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.96 earnings per share. As a group, sell-side analysts forecast that Oracle Co. will post 4.44 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. Oracle’s payout ratio is currently 42.22%.

Insiders Place Their Bets

In other Oracle news, CEO Safra Catz sold 790,000 shares of Oracle stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $126.54, for a total value of $99,966,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at approximately $141,546,631.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 42.80% of the company’s stock.

Oracle Company 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.