Boenning & Scattergood Inc. increased its holdings in shares of Oracle Co. (NYSE:ORCL – Get Rating) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,115 shares of the enterprise software provider’s stock after buying an additional 188 shares during the quarter. Boenning & Scattergood Inc.’s holdings in Oracle were worth $427,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Oracle by 1.6% during the 4th quarter. BlackRock Inc. now owns 119,247,252 shares of the enterprise software provider’s stock worth $10,399,550,000 after buying an additional 1,886,260 shares during the period. First Eagle Investment Management LLC raised its stake in Oracle by 0.8% during the 1st quarter. First Eagle Investment Management LLC now owns 25,924,820 shares of the enterprise software provider’s stock worth $2,144,760,000 after buying an additional 204,315 shares during the period. Fisher Asset Management LLC increased its holdings in Oracle by 4.7% during the 1st quarter. Fisher Asset Management LLC now owns 16,758,831 shares of the enterprise software provider’s stock worth $1,386,458,000 after purchasing an additional 757,743 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Oracle by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,524,116 shares of the enterprise software provider’s stock worth $953,393,000 after purchasing an additional 117,443 shares in the last quarter. Finally, Norges Bank bought a new position in Oracle during the 4th quarter worth about $947,274,000. Institutional investors and hedge funds own 41.92% of the company’s stock.
Oracle Stock Performance
Oracle stock opened at $66.75 on Thursday. Oracle Co. has a 52 week low of $63.76 and a 52 week high of $106.34. The stock has a market capitalization of $179.93 billion, a P/E ratio of 31.79, a PEG ratio of 2.06 and a beta of 0.87. The stock has a 50-day simple moving average of $74.96 and a 200 day simple moving average of $74.64.
Oracle Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Wednesday, October 12th will be given a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, October 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.92%. Oracle’s payout ratio is 60.95%.
In other news, CEO Safra Catz sold 980,000 shares of Oracle stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $69.80, for a total value of $68,404,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at $78,077,721.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Safra Catz sold 980,000 shares of Oracle stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $69.80, for a total value of $68,404,000.00. Following the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at $78,077,721.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward Screven sold 419,174 shares of Oracle stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $69.22, for a total transaction of $29,015,224.28. Following the completion of the transaction, the insider now directly owns 2,492,613 shares in the company, valued at $172,538,671.86. The disclosure for this sale can be found here. 39.10% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
ORCL has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Oracle from $82.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, September 13th. Stifel Nicolaus lowered their target price on Oracle from $83.00 to $72.00 in a report on Tuesday, June 14th. Credit Suisse Group set a $115.00 target price on Oracle in a report on Tuesday, September 13th. BNP Paribas upgraded Oracle from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Wednesday, June 29th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $75.00 target price on shares of Oracle in a report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $88.67.
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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.
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