1,316 Shares in Oracle Co. (NYSE:ORCL) Purchased by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC bought a new stake in Oracle Co. (NYSE:ORCL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,316 shares of the enterprise software provider’s stock, valued at approximately $224,000.

Several other hedge funds have also made changes to their positions in the company. Acorn Wealth Advisors LLC acquired a new stake in shares of Oracle during the 3rd quarter worth about $244,000. Associated Banc Corp increased its position in shares of Oracle by 4.1% during the third quarter. Associated Banc Corp now owns 8,458 shares of the enterprise software provider’s stock valued at $1,441,000 after acquiring an additional 334 shares during the last quarter. Private Trust Co. NA increased its position in shares of Oracle by 7.9% during the third quarter. Private Trust Co. NA now owns 29,543 shares of the enterprise software provider’s stock valued at $5,034,000 after acquiring an additional 2,165 shares during the last quarter. Mirabella Financial Services LLP lifted its holdings in shares of Oracle by 856.6% in the 3rd quarter. Mirabella Financial Services LLP now owns 22,108 shares of the enterprise software provider’s stock worth $3,696,000 after acquiring an additional 19,797 shares during the last quarter. Finally, Truvestments Capital LLC boosted its position in shares of Oracle by 864.1% during the 3rd quarter. Truvestments Capital LLC now owns 20,333 shares of the enterprise software provider’s stock worth $3,465,000 after purchasing an additional 18,224 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Stock Down 2.2 %

Oracle stock opened at $188.09 on Tuesday. The stock has a 50-day simple moving average of $175.98 and a 200-day simple moving average of $150.14. The company has a market capitalization of $521.21 billion, a P/E ratio of 48.48, a PEG ratio of 3.54 and a beta of 1.02. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $196.04.

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

Oracle Announces Dividend

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 dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.85%. Oracle’s dividend payout ratio (DPR) is 41.24%.

Insiders Place Their Bets

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 transaction, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ORCL has been the topic of a number of research analyst reports. Oppenheimer reissued a “market perform” rating on shares of Oracle in a research report on Tuesday, September 10th. Sanford C. Bernstein increased their target price on Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Mizuho raised their target price on Oracle from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Morgan Stanley increased their price target on shares of Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Finally, BMO Capital Markets lifted their price objective on shares of Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $169.52.

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.