Oracle Co. (NYSE:ORCL) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. grew its position in Oracle Co. (NYSE:ORCL) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 432,522 shares of the enterprise software provider’s stock after purchasing an additional 10,711 shares during the quarter. Oracle makes up 0.4% of Corebridge Financial Inc.’s investment portfolio, making the stock its 26th largest position. Corebridge Financial Inc.’s holdings in Oracle were worth $72,075,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Oracle during the fourth quarter worth approximately $930,095,000. Vanguard Group Inc. grew its position 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 valued at $26,231,127,000 after buying an additional 2,296,069 shares during the last quarter. Polen Capital Management LLC raised its stake in Oracle by 22.3% during the 4th quarter. Polen Capital Management LLC now owns 10,723,731 shares of the enterprise software provider’s stock worth $1,787,003,000 after acquiring an additional 1,955,764 shares in the last quarter. Franklin Resources Inc. lifted its position in Oracle by 11.6% in the third quarter. Franklin Resources Inc. now owns 18,480,384 shares of the enterprise software provider’s stock valued at $3,370,640,000 after acquiring an additional 1,917,416 shares during the last quarter. Finally, State Street Corp boosted its stake in Oracle by 2.7% in the third quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider’s stock valued at $12,003,241,000 after acquiring an additional 1,847,561 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Trading Up 0.1 %

Shares of Oracle stock opened at $152.83 on Monday. The company has a 50-day moving average of $164.87 and a two-hundred day moving average of $170.27. Oracle Co. has a 12-month low of $112.78 and a 12-month high of $198.31. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. The stock has a market cap of $427.45 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07.

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

Oracle Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 10th will be given a $0.50 dividend. 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 annualized dividend and a dividend yield of 1.31%. Oracle’s payout ratio is currently 46.95%.

Insider Activity at Oracle

In other Oracle news, CEO Safra Catz sold 345,174 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $207,565,931.52. This represents a 23.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 42.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ORCL. JMP Securities reissued a “market outperform” rating and issued a $205.00 target price on shares of Oracle in a report on Wednesday, January 22nd. Citigroup reduced their price objective on Oracle from $194.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Cantor Fitzgerald cut their target price on shares of Oracle from $214.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Bank of America reduced their price target on shares of Oracle from $195.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Oracle from $140.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.20.

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.