1,305 Shares in Oracle Corporation $ORCL Bought by Cullen Investment Group LTD.

Cullen Investment Group LTD. bought a new position in shares of Oracle Corporation (NYSE:ORCL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,305 shares of the enterprise software provider’s stock, valued at approximately $285,000.

A number of other hedge funds have also bought and sold shares of ORCL. Sunbeam Capital Management LLC acquired a new stake in Oracle in the fourth quarter worth $30,000. Redmont Wealth Advisors LLC acquired a new stake in Oracle in the first quarter worth $27,000. Inlight Wealth Management LLC acquired a new stake in Oracle in the first quarter worth $28,000. Iron Horse Wealth Management LLC grew its holdings in Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after purchasing an additional 151 shares during the period. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Oracle in the fourth quarter worth $36,000. Institutional investors own 42.44% of the company’s stock.

Insiders Place Their Bets

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the sale, the director owned 31,447 shares of the company’s stock, valued at approximately $7,337,214.04. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the completion of the sale, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,183 shares of company stock valued at $10,353,198. Company insiders own 42.20% of the company’s stock.

Oracle Stock Down 5.1%

ORCL opened at $292.07 on Friday. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.75. The company’s 50-day moving average is $244.69 and its 200 day moving average is $190.50. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $345.72. The firm has a market capitalization of $820.38 billion, a P/E ratio of 67.61, a PEG ratio of 4.10 and a beta of 1.46.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period last year, the firm earned $1.63 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Research analysts expect that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $2.00 annualized dividend and a yield of 0.7%. Oracle’s payout ratio is currently 46.30%.

Analysts Set New Price Targets

A number of research firms have commented on ORCL. Evercore ISI raised their price target on shares of Oracle from $270.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday. Mizuho raised their price target on shares of Oracle from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley lifted their price objective on shares of Oracle from $175.00 to $246.00 and gave the company an “equal weight” rating in a report on Monday, September 8th. Piper Sandler lifted their price objective on shares of Oracle from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Guggenheim lifted their price objective on shares of Oracle from $250.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and an average target price of $296.84.

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.