Edgestream Partners L.P. Boosts Stock Position in Oracle Co. (NYSE:ORCL)

Edgestream Partners L.P. boosted its position in shares of Oracle Co. (NYSE:ORCL) by 91.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 13,771 shares of the enterprise software provider’s stock after buying an additional 6,587 shares during the quarter. Edgestream Partners L.P.’s holdings in Oracle were worth $1,730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ORCL. Norges Bank purchased a new position in Oracle during the fourth quarter worth $1,210,181,000. Boston Partners lifted its position in shares of Oracle by 382.4% during the fourth quarter. Boston Partners now owns 4,563,366 shares of the enterprise software provider’s stock worth $481,820,000 after purchasing an additional 3,617,413 shares during the last quarter. Capital World Investors lifted its position in shares of Oracle by 22.1% during the fourth quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock worth $1,938,242,000 after purchasing an additional 3,323,334 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of Oracle by 17.7% during the fourth quarter. Parnassus Investments LLC now owns 14,599,902 shares of the enterprise software provider’s stock worth $1,539,268,000 after purchasing an additional 2,191,342 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Oracle by 30,724.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,056,289 shares of the enterprise software provider’s stock worth $216,795,000 after purchasing an additional 2,049,618 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Stock Performance

NYSE ORCL traded up $1.61 during trading hours on Monday, reaching $140.17. The stock had a trading volume of 5,308,424 shares, compared to its average volume of 8,543,650. The stock has a fifty day moving average of $133.18 and a 200 day moving average of $122.16. The stock has a market cap of $386.29 billion, a P/E ratio of 37.82, a price-to-earnings-growth ratio of 2.51 and a beta of 1.02. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $146.59. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71.

Oracle (NYSE:ORCL) last issued its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). The firm had revenue of $14.29 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Oracle had a net margin of 19.76% and a return on equity of 223.01%. Oracle’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 EPS. Sell-side analysts predict that Oracle Co. will post 5.02 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be given a $0.40 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.60 annualized dividend and a yield of 1.14%. Oracle’s dividend payout ratio is presently 43.13%.

Analyst Upgrades and Downgrades

ORCL has been the subject of several recent research reports. Evercore ISI lifted their price objective on Oracle from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Oppenheimer initiated coverage on Oracle in a report on Thursday, April 18th. They issued a “market perform” rating for the company. Piper Sandler restated an “overweight” rating and issued a $150.00 price objective on shares of Oracle in a report on Friday, July 12th. Stifel Nicolaus lifted their price objective on Oracle from $120.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, June 12th. Finally, KeyCorp boosted their target price on shares of Oracle from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.83.

Insiders Place Their Bets

In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the sale, the chairman now owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the sale, the chairman now owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George H. Conrades sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 17,836 shares in the company, valued at approximately $2,068,976. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,952,500 shares of company stock worth $277,298,174. Corporate 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.