Sunburst Financial Group LLC Invests $224,000 in Oracle Co. (NYSE:ORCL)

Sunburst Financial Group LLC bought a new position in Oracle Co. (NYSE:ORCL) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,786 shares of the enterprise software provider’s stock, valued at approximately $224,000.

Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Oracle during the fourth quarter valued at approximately $1,210,181,000. Wellington Management Group LLP raised its position in Oracle by 9,299.3% during the third quarter. Wellington Management Group LLP now owns 8,170,999 shares of the enterprise software provider’s stock valued at $865,472,000 after purchasing an additional 8,084,067 shares during the period. Vanguard Group Inc. raised its position in Oracle by 5.7% during the third quarter. Vanguard Group Inc. now owns 147,273,413 shares of the enterprise software provider’s stock valued at $15,599,200,000 after purchasing an additional 7,883,515 shares during the period. Boston Partners raised its position in Oracle by 382.4% during the fourth quarter. Boston Partners now owns 4,563,366 shares of the enterprise software provider’s stock valued at $481,820,000 after purchasing an additional 3,617,413 shares during the period. Finally, Capital World Investors raised its position in Oracle by 22.1% during the fourth quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock valued at $1,938,242,000 after purchasing an additional 3,323,334 shares during the period. 42.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on ORCL. Argus increased their price target on Oracle from $145.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. DA Davidson reiterated a “neutral” rating and issued a $105.00 price target on shares of Oracle in a report on Wednesday, June 12th. Oppenheimer began coverage on Oracle in a report on Thursday, April 18th. They issued a “market perform” rating on the stock. TD Cowen increased their price target on Oracle from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Finally, Piper Sandler increased their price target on Oracle from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.83.

Oracle Stock Up 1.4 %

NYSE ORCL traded up $1.98 during midday trading on Friday, hitting $142.16. 2,515,262 shares of the company traded hands, compared to its average volume of 8,533,852. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.71 and a quick ratio of 0.72. The company has a market cap of $391.77 billion, a PE ratio of 38.47, a price-to-earnings-growth ratio of 2.51 and a beta of 1.01. The company’s 50-day simple moving average is $124.23 and its 200-day simple moving average is $117.62. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $145.32.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.02). Oracle had a net margin of 19.76% and a return on equity of 223.01%. The business had revenue of $14.29 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the company posted $1.35 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Oracle Co. will post 5.01 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.13%. Oracle’s dividend payout ratio is presently 43.13%.

Insider Activity

In other news, Director George H. Conrades sold 20,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $116.00, for a total transaction of $2,320,000.00. Following the completion of the sale, the director now owns 17,836 shares in the company, valued at approximately $2,068,976. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director George H. Conrades sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.13, for a total value of $2,903,250.00. Following the completion of the transaction, the director now owns 17,836 shares in the company, valued at approximately $2,071,294.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George H. Conrades sold 20,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $116.00, for a total value of $2,320,000.00. Following the completion of the transaction, the director now owns 17,836 shares of the company’s stock, valued at approximately $2,068,976. The disclosure for this sale can be found here. In the last quarter, insiders sold 385,639 shares of company stock worth $53,002,729. Insiders own 42.80% of the company’s stock.

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.