OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in Oracle Co. (NYSE:ORCL)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Oracle Co. (NYSE:ORCL) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,603 shares of the enterprise software provider’s stock, valued at approximately $443,000.

A number of other institutional investors have also recently made changes to their positions in ORCL. Fairway Wealth LLC bought a new stake in Oracle in the 2nd quarter worth approximately $27,000. POM Investment Strategies LLC bought a new stake in shares of Oracle in the second quarter worth $30,000. Bbjs Financial Advisors LLC purchased a new stake in Oracle during the second quarter valued at $35,000. Koesten Hirschmann & Crabtree INC. bought a new position in Oracle in the first quarter valued at about $38,000. Finally, Quest Partners LLC purchased a new position in Oracle in the second quarter worth about $40,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ORCL. JMP Securities upped their price target on shares of Oracle from $175.00 to $205.00 and gave the company a “market outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on shares of Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Morgan Stanley boosted their price objective on shares of Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Guggenheim lifted their target price on Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Piper Sandler upped their price target on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.52.

Insiders Place Their Bets

In other news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at $7,076,685. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 42.20% of the stock is currently owned by insiders.

Oracle Stock Performance

NYSE:ORCL opened at $189.62 on Thursday. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $525.45 billion, a price-to-earnings ratio of 48.87, a PEG ratio of 3.49 and a beta of 1.02. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $191.77. The stock’s 50 day simple moving average is $169.43 and its two-hundred day simple moving average is $145.54.

Oracle (NYSE:ORCL) last released its quarterly earnings results 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 the consensus estimate of $13.23 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Oracle’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.84%. Oracle’s dividend payout ratio is currently 41.24%.

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.