Great Lakes Retirement Inc. Grows Position in Oracle Co. (NYSE:ORCL)

Great Lakes Retirement Inc. grew its stake in shares of Oracle Co. (NYSE:ORCL) by 20.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,828 shares of the enterprise software provider’s stock after purchasing an additional 2,334 shares during the period. Great Lakes Retirement Inc.’s holdings in Oracle were worth $2,356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fairway Wealth LLC acquired a new position in Oracle during the second quarter worth about $27,000. POM Investment Strategies LLC acquired a new stake in shares of Oracle in the 2nd quarter worth approximately $30,000. Bbjs Financial Advisors LLC purchased a new position in Oracle in the 2nd quarter valued at approximately $35,000. Koesten Hirschmann & Crabtree INC. acquired a new position in Oracle during the first quarter worth $38,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Oracle in the first quarter valued at $40,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Stock Performance

Shares of NYSE:ORCL opened at $173.10 on Thursday. The business’s 50-day simple moving average is $158.68 and its 200 day simple moving average is $139.61. The company has a market cap of $479.67 billion, a P/E ratio of 44.61, a PEG ratio of 3.22 and a beta of 1.01. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. Oracle Co. has a one year low of $99.26 and a one year high of $178.61.

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

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. Oracle’s dividend payout ratio (DPR) is 41.24%.

Insiders Place Their Bets

In related news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 42.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Citigroup upped their target price on Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Melius Research raised Oracle from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Finally, Sanford C. Bernstein increased their price objective on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.52.

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.