Claro Advisors LLC Raises Stock Holdings in Oracle Co. (NYSE:ORCL)

Claro Advisors LLC grew its holdings in Oracle Co. (NYSE:ORCL) by 24.6% in the third quarter, Holdings Channel reports. The institutional investor owned 21,479 shares of the enterprise software provider’s stock after acquiring an additional 4,244 shares during the quarter. Claro Advisors LLC’s holdings in Oracle were worth $3,660,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Tower Bridge Advisors raised its position in shares of Oracle by 1.9% during the 3rd quarter. Tower Bridge Advisors now owns 191,276 shares of the enterprise software provider’s stock worth $32,593,000 after purchasing an additional 3,634 shares during the last quarter. Mechanics Financial Corp raised its holdings in shares of Oracle by 1.2% during the third quarter. Mechanics Financial Corp now owns 11,636 shares of the enterprise software provider’s stock valued at $1,983,000 after acquiring an additional 140 shares during the last quarter. Adero Partners LLC raised its holdings in shares of Oracle by 9.9% during the third quarter. Adero Partners LLC now owns 1,622 shares of the enterprise software provider’s stock valued at $276,000 after acquiring an additional 146 shares during the last quarter. Atlanta Consulting Group Advisors LLC purchased a new position in shares of Oracle in the third quarter valued at approximately $1,545,000. Finally, Sawgrass Asset Management LLC boosted its stake in shares of Oracle by 13.0% in the third quarter. Sawgrass Asset Management LLC now owns 134,596 shares of the enterprise software provider’s stock worth $22,935,000 after acquiring an additional 15,456 shares during the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Oracle

In related news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. This trade represents a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 42.20% of the company’s stock.

Oracle Stock Down 1.8 %

Shares of NYSE ORCL opened at $183.74 on Friday. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $191.77. The business’s 50 day moving average is $172.14 and its two-hundred day moving average is $146.83. The firm has a market cap of $509.15 billion, a price-to-earnings ratio of 47.36, a PEG ratio of 3.39 and a beta of 1.02. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. The firm had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. Research analysts predict that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s payout ratio is 41.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ORCL shares. Morgan Stanley raised their price objective on Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. TD Cowen boosted their price target on shares of Oracle from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. UBS Group reaffirmed a “market outperform” rating on shares of Oracle in a research note on Friday, October 18th. Piper Sandler raised their target price on shares of Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada began coverage on Oracle in a research report on Wednesday, October 23rd. They issued a “sector perform” rating and a $165.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Oracle has an average rating of “Moderate Buy” and an average price target of $169.52.

About Oracle

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.