Absoluto Partners Gestao de Recursos Ltda Grows Stake in Oracle Corporation $ORCL

Absoluto Partners Gestao de Recursos Ltda grew its holdings in Oracle Corporation (NYSE:ORCL) by 18.1% in the second quarter, Holdings Channel reports. The firm owned 17,813 shares of the enterprise software provider’s stock after buying an additional 2,724 shares during the quarter. Oracle accounts for about 2.4% of Absoluto Partners Gestao de Recursos Ltda’s portfolio, making the stock its 10th biggest position. Absoluto Partners Gestao de Recursos Ltda’s holdings in Oracle were worth $3,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ORCL. Norges Bank bought a new position in Oracle during the second quarter valued at approximately $4,275,378,000. Vanguard Group Inc. increased its stake in shares of Oracle by 2.1% in the second quarter. Vanguard Group Inc. now owns 164,278,874 shares of the enterprise software provider’s stock worth $35,916,290,000 after purchasing an additional 3,353,461 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Oracle during the 2nd quarter valued at $731,512,000. Invesco Ltd. lifted its stake in shares of Oracle by 42.1% during the 2nd quarter. Invesco Ltd. now owns 8,839,166 shares of the enterprise software provider’s stock valued at $1,932,507,000 after buying an additional 2,619,722 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Oracle by 840.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,119,473 shares of the enterprise software provider’s stock worth $463,380,000 after buying an additional 1,894,157 shares during the period. Institutional investors own 42.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America dropped their target price on shares of Oracle from $368.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday. UBS Group set a $325.00 price target on Oracle in a research note on Thursday. TD Cowen cut their price target on Oracle from $400.00 to $350.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group decreased their price objective on Oracle from $320.00 to $220.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Robert W. Baird lowered their price target on shares of Oracle from $365.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, November 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $301.57.

Oracle Price Performance

ORCL opened at $189.64 on Friday. The company has a market capitalization of $540.62 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.24 and a beta of 1.66. The business’s fifty day simple moving average is $245.58 and its 200-day simple moving average is $240.83. The company has a current ratio of 0.91, a quick ratio of 0.62 and a debt-to-equity ratio of 3.28. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $345.72.

Oracle (NYSE:ORCL) last posted its earnings results on Wednesday, December 10th. The enterprise software provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.62. Oracle had a return on equity of 70.60% and a net margin of 25.28%.The company had revenue of $16.06 billion during the quarter, compared to analyst estimates of $16.19 billion. During the same quarter in the prior year, the business earned $1.47 earnings per share. Oracle’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, January 9th. Oracle’s dividend payout ratio is currently 37.59%.

Insider Activity

In other news, EVP Maria Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $280.62, for a total transaction of $1,403,100.00. Following the sale, the executive vice president owned 47,083 shares of the company’s stock, valued at $13,212,431.46. This trade represents a 9.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Naomi O. Seligman sold 2,222 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $288.91, for a total value of $641,958.02. Following the completion of the transaction, the director directly owned 29,225 shares of the company’s stock, valued at $8,443,394.75. The trade was a 7.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 171,513 shares of company stock valued at $50,397,893. 40.90% of the stock is owned by corporate insiders.

Oracle 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.