OVERSEA CHINESE BANKING Corp Ltd Increases Holdings in Oracle Co. (NYSE:ORCL)

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Oracle Co. (NYSE:ORCL) by 268.0% during the fourth quarter, Holdings Channel reports. The firm owned 9,579 shares of the enterprise software provider’s stock after acquiring an additional 6,976 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Oracle were worth $1,601,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Activest Wealth Management increased its holdings in Oracle by 21.9% during the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after purchasing an additional 56 shares during the period. Second Line Capital LLC increased its holdings in Oracle by 1.5% during the 3rd quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock valued at $650,000 after purchasing an additional 58 shares during the period. Cadence Bank increased its holdings in Oracle by 0.8% during the 3rd quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock valued at $1,296,000 after purchasing an additional 59 shares during the period. Requisite Capital Management LLC increased its holdings in Oracle by 2.8% during the 4th quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider’s stock valued at $373,000 after purchasing an additional 60 shares during the period. Finally, Cookson Peirce & Co. Inc. grew its holdings in shares of Oracle by 4.4% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider’s stock worth $237,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Activity at Oracle

In other news, CEO Safra Catz sold 345,174 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $207,565,931.52. The trade was a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 42.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Bank of America reduced their target price on Oracle from $195.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Morgan Stanley reduced their target price on Oracle from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 11th. Royal Bank of Canada set a $145.00 target price on Oracle and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. UBS Group reiterated a “market perform” rating on shares of Oracle in a report on Tuesday, March 11th. Finally, Piper Sandler reduced their target price on Oracle from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and an average price target of $179.20.

Oracle Stock Up 2.0 %

Shares of NYSE ORCL opened at $152.40 on Thursday. The firm has a 50-day simple moving average of $165.10 and a two-hundred day simple moving average of $169.89. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. Oracle Co. has a 1 year low of $112.78 and a 1 year high of $198.31. The company has a market cap of $426.25 billion, a P/E ratio of 37.26, a PEG ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business had revenue of $14.13 billion for the quarter, compared to analysts’ expectations of $14.40 billion. During the same period in the previous year, the business earned $1.41 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts anticipate that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Oracle’s previous quarterly dividend of $0.40. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.31%. Oracle’s payout ratio is 46.95%.

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.