Zhang Financial LLC Invests $226,000 in Oracle Co. (NYSE:ORCL)

Zhang Financial LLC bought a new position in shares of Oracle Co. (NYSE:ORCLGet Rating) during the second quarter, according to its most recent filing with the SEC. The fund bought 3,231 shares of the enterprise software provider’s stock, valued at approximately $226,000.

A number of other hedge funds also recently made changes to their positions in ORCL. Norges Bank purchased a new stake in Oracle in the 4th quarter worth about $947,274,000. Aaron Wealth Advisors LLC increased its holdings in Oracle by 26,472.9% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,381,465 shares of the enterprise software provider’s stock worth $28,786,000 after acquiring an additional 2,372,503 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Oracle by 93.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,068,310 shares of the enterprise software provider’s stock worth $336,571,000 after acquiring an additional 1,967,853 shares during the last quarter. Nordea Investment Management AB increased its holdings in Oracle by 44.3% in the 1st quarter. Nordea Investment Management AB now owns 6,366,409 shares of the enterprise software provider’s stock worth $531,468,000 after acquiring an additional 1,953,713 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Oracle by 1.6% in the 4th quarter. BlackRock Inc. now owns 119,247,252 shares of the enterprise software provider’s stock worth $10,399,550,000 after acquiring an additional 1,886,260 shares during the last quarter. 41.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Oracle news, insider Edward Screven sold 419,174 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $69.22, for a total value of $29,015,224.28. Following the completion of the sale, the insider now owns 2,492,613 shares of the company’s stock, valued at $172,538,671.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 39.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ORCL. Evercore ISI lifted their price objective on Oracle from $78.00 to $87.00 and gave the stock an “in-line” rating in a report on Tuesday, September 13th. Jefferies Financial Group set a $80.00 price objective on Oracle in a research report on Tuesday, September 13th. Daiwa Capital Markets reduced their target price on Oracle from $87.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, June 27th. Barclays set a $82.00 target price on Oracle in a research note on Thursday, September 15th. Finally, Citigroup set a $81.00 price target on Oracle in a research note on Monday, June 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $88.67.

Oracle Stock Performance

Shares of NYSE:ORCL opened at $66.03 on Friday. The company has a market cap of $177.99 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 2.02 and a beta of 0.87. Oracle Co. has a 52 week low of $63.76 and a 52 week high of $106.34. The firm has a 50 day simple moving average of $74.89 and a 200 day simple moving average of $74.58.

Oracle (NYSE:ORCLGet Rating) last posted its earnings results on Monday, September 12th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.07). The firm had revenue of $11.45 billion during the quarter, compared to analyst estimates of $11.44 billion. Oracle had a net margin of 13.15% and a negative return on equity of 161.07%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. On average, equities analysts predict that Oracle Co. will post 4.13 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Wednesday, October 12th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, October 11th. Oracle’s dividend payout ratio (DPR) is 60.95%.

About Oracle

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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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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