SouthState Corp increased its stake in shares of Oracle Corporation (NYSE:ORCL – Free Report) by 5.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 173,328 shares of the enterprise software provider’s stock after buying an additional 8,669 shares during the quarter. Oracle comprises 1.1% of SouthState Corp’s holdings, making the stock its 20th largest position. SouthState Corp’s holdings in Oracle were worth $24,233,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in ORCL. Brighton Jones LLC lifted its position in Oracle by 189.3% during the fourth quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock worth $25,593,000 after buying an additional 100,494 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Oracle by 8.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock worth $903,000 after buying an additional 404 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its position in Oracle by 8.0% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 1,843 shares of the enterprise software provider’s stock worth $307,000 after buying an additional 136 shares in the last quarter. Petros Family Wealth LLC purchased a new stake in Oracle in the fourth quarter valued at $499,000. Finally, Fortis Capital Advisors LLC raised its position in Oracle by 38.6% in the fourth quarter. Fortis Capital Advisors LLC now owns 10,368 shares of the enterprise software provider’s stock valued at $1,728,000 after purchasing an additional 2,885 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Citigroup upgraded Oracle from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 18th. Cowen restated a “buy” rating on shares of Oracle in a research report on Thursday, June 12th. BMO Capital Markets lifted their target price on Oracle from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Piper Sandler upgraded Oracle from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $190.00 to $270.00 in a research report on Thursday, July 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $240.00 target price (up previously from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $222.75.
Insider Buying and Selling at Oracle
In other news, insider Clayton M. Magouyrk sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the transaction, the insider directly owned 60,722 shares of the company’s stock, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Maria Smith sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the transaction, the executive vice president directly owned 40,807 shares of the company’s stock, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 444,183 shares of company stock worth $86,521,198. Corporate insiders own 42.20% of the company’s stock.
Oracle Stock Performance
Shares of ORCL opened at $250.04 on Friday. The stock has a 50-day simple moving average of $222.64 and a 200-day simple moving average of $177.81. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $702.32 billion, a PE ratio of 57.61, a PEG ratio of 3.73 and a beta of 1.43. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $260.87.
Oracle (NYSE:ORCL – Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS. On average, analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.
Oracle Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle’s dividend payout ratio is currently 46.08%.
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.
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