Ridgecrest Wealth Partners LLC Increases Stock Position in Oracle Co. (NYSE:ORCL)

Ridgecrest Wealth Partners LLC grew its stake in Oracle Co. (NYSE:ORCL) by 1.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 7,813 shares of the enterprise software provider’s stock after buying an additional 100 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in Oracle were worth $1,331,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in shares of Oracle by 5.3% during the third quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after acquiring an additional 121,874 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Oracle by 15.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock valued at $3,502,000 after purchasing an additional 3,300 shares during the last quarter. Buckley Wealth Management LLC raised its position in Oracle by 63.8% in the 3rd quarter. Buckley Wealth Management LLC now owns 7,370 shares of the enterprise software provider’s stock worth $1,256,000 after purchasing an additional 2,870 shares during the period. GAMMA Investing LLC raised its position in Oracle by 55.7% in the 2nd quarter. GAMMA Investing LLC now owns 22,315 shares of the enterprise software provider’s stock worth $3,151,000 after purchasing an additional 7,982 shares during the period. Finally, United Asset Strategies Inc. lifted its stake in Oracle by 41.7% in the third quarter. United Asset Strategies Inc. now owns 19,501 shares of the enterprise software provider’s stock worth $3,323,000 after purchasing an additional 5,737 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction 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 $7,076,685. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 42.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Melius upgraded Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Monday, September 16th. UBS Group restated a “market outperform” rating on shares of Oracle in a research report on Friday, October 18th. KeyCorp boosted their price objective on Oracle from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. BMO Capital Markets raised their target price on shares of Oracle from $160.00 to $173.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Finally, Royal Bank of Canada began coverage on shares of Oracle in a report on Wednesday, October 23rd. They set a “sector perform” rating and a $165.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $168.52.

Oracle Stock Up 1.5 %

Shares of Oracle stock opened at $189.25 on Monday. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $190.16. 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 50-day moving average of $167.47 and a 200 day moving average of $144.31. The firm has a market cap of $524.42 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 3.49 and a beta of 1.02.

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

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is 41.24%.

About Oracle

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.