Resource Management LLC acquired a new position in Oracle Co. (NYSE:ORCL) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,573 shares of the enterprise software provider’s stock, valued at approximately $204,000.
Several other hedge funds have also recently made changes to their positions in ORCL. Evolution Wealth Advisors LLC lifted its position in shares of Oracle by 346.0% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock worth $25,000 after buying an additional 346 shares during the period. Investors Research Corp bought a new position in shares of Oracle during the 1st quarter worth approximately $30,000. Covenant Multifamily Offices LLC bought a new position in shares of Oracle during the 1st quarter worth approximately $35,000. Clarfeld Financial Advisors LLC bought a new position in shares of Oracle during the 4th quarter worth approximately $39,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of Oracle during the 1st quarter worth approximately $44,000. Institutional investors own 54.26% of the company’s stock.
Shares of NYSE ORCL traded down $0.56 during midday trading on Friday, hitting $54.09. The stock had a trading volume of 4,136,705 shares, compared to its average volume of 10,570,208. The stock has a 50-day simple moving average of $57.59. The stock has a market cap of $180.00 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.58 and a beta of 1.15. Oracle Co. has a fifty-two week low of $42.40 and a fifty-two week high of $60.50. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.49 and a current ratio of 2.49.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, July 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.77%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.
In related news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $54.52, for a total transaction of $204,450.00. Following the completion of the sale, the director now directly owns 27,969 shares of the company’s stock, valued at $1,524,869.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Naomi O. Seligman sold 90,000 shares of Oracle stock in a transaction on Friday, July 12th. The stock was sold at an average price of $59.52, for a total value of $5,356,800.00. Following the sale, the director now directly owns 82,310 shares of the company’s stock, valued at $4,899,091.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,356,250 shares of company stock valued at $76,913,375. 32.00% of the stock is owned by insiders.
Several equities analysts recently commented on ORCL shares. Barclays raised their target price on Oracle from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 20th. BMO Capital Markets reaffirmed a “market perform” rating and set a $59.00 price target (up from $53.00) on shares of Oracle in a report on Thursday, June 20th. Goldman Sachs Group reaffirmed a “buy” rating and set a $58.00 price target on shares of Oracle in a report on Thursday, June 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $53.00 price target on shares of Oracle in a report on Tuesday, June 18th. Finally, Raymond James raised their price target on Oracle from $57.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $54.58.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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