Byrne Asset Management LLC Purchases 80 Shares of Oracle Co. (NYSE:ORCL)

Byrne Asset Management LLC raised its stake in Oracle Co. (NYSE:ORCL) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,030 shares of the enterprise software provider’s stock after acquiring an additional 80 shares during the period. Byrne Asset Management LLC’s holdings in Oracle were worth $703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORCL. Sunbeam Capital Management LLC bought a new stake in shares of Oracle during the 4th quarter worth $30,000. Hurley Capital LLC bought a new stake in shares of Oracle during the 4th quarter worth $33,000. Synergy Investment Management LLC bought a new stake in shares of Oracle during the 4th quarter worth $34,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Oracle during the 4th quarter worth $36,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Oracle during the 4th quarter worth $36,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Oracle

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the completion of the sale, the insider now directly owns 1,097,576 shares of the company’s stock, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leon E. Panetta sold 17,500 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the completion of the sale, the director now directly owns 58,090 shares of the company’s stock, valued at $8,785,531.60. This represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 427,366 shares of company stock valued at $80,183,723. 42.20% of the stock is owned by insiders.

Oracle Stock Up 7.8%

ORCL stock opened at $215.54 on Friday. Oracle Co. has a twelve month low of $118.86 and a twelve month high of $216.60. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The stock’s 50 day moving average is $152.88 and its 200-day moving average is $160.62. The firm has a market capitalization of $602.86 billion, a PE ratio of 52.70, a P/E/G ratio of 3.46 and a beta of 1.32.

Oracle (NYSE:ORCL) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter last year, the company earned $1.63 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts expect that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, July 10th. Oracle’s payout ratio is 46.08%.

Analysts Set New Price Targets

Several analysts recently weighed in on ORCL shares. BMO Capital Markets upgraded Oracle from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $200.00 to $235.00 in a research report on Friday. UBS Group upped their price objective on Oracle from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday. Guggenheim reaffirmed a “buy” rating and issued a $220.00 target price on shares of Oracle in a report on Thursday. DA Davidson upped their target price on Oracle from $140.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Bank of America increased their price target on Oracle from $156.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday. Twelve equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and an average price target of $194.32.

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.