Truvestments Capital LLC Increases Stock Holdings in Oracle Co. (NYSE:ORCL)

Truvestments Capital LLC raised its stake in shares of Oracle Co. (NYSE:ORCL) by 864.1% during the third quarter, HoldingsChannel reports. The firm owned 20,333 shares of the enterprise software provider’s stock after purchasing an additional 18,224 shares during the quarter. Oracle makes up about 0.9% of Truvestments Capital LLC’s investment portfolio, making the stock its 24th largest position. Truvestments Capital LLC’s holdings in Oracle were worth $3,465,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new position in shares of Oracle during the second quarter worth $27,000. POM Investment Strategies LLC purchased a new position in shares of Oracle during the 2nd quarter valued at about $30,000. Bbjs Financial Advisors LLC acquired a new stake in Oracle during the second quarter worth about $35,000. Koesten Hirschmann & Crabtree INC. purchased a new position in Oracle during the first quarter valued at approximately $38,000. Finally, Quest Partners LLC acquired a new position in shares of Oracle in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ORCL shares. Jefferies Financial Group increased their target price on shares of Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Piper Sandler raised their price objective on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. KeyCorp upped their target price on Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. BMO Capital Markets lifted their price target on shares of Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer reissued a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $169.52.

Oracle Stock Performance

Oracle stock opened at $194.20 on Monday. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $196.04. The stock has a market cap of $538.14 billion, a price-to-earnings ratio of 49.56, a price-to-earnings-growth ratio of 3.54 and a beta of 1.02. The firm has a 50 day simple moving average of $175.62 and a 200-day simple moving average of $149.64. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, analysts expect that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were issued a $0.40 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.82%. Oracle’s dividend payout ratio is currently 41.24%.

Insiders Place Their Bets

In related news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 42.20% of the stock is owned by insiders.

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.