12,313 Shares in Oracle Corporation $ORCL Purchased by Elite Wealth Management Inc.

Elite Wealth Management Inc. bought a new position in shares of Oracle Corporation (NYSE:ORCLFree Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,313 shares of the enterprise software provider’s stock, valued at approximately $3,463,000. Oracle accounts for about 0.9% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds have also made changes to their positions in the company. Winnow Wealth LLC purchased a new position in Oracle in the second quarter worth approximately $28,000. Kilter Group LLC purchased a new stake in Oracle in the second quarter valued at $30,000. Darwin Wealth Management LLC lifted its stake in shares of Oracle by 130.0% in the 3rd quarter. Darwin Wealth Management LLC now owns 115 shares of the enterprise software provider’s stock valued at $32,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Oracle in the 2nd quarter valued at $33,000. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Oracle during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ORCL. Baird R W upgraded shares of Oracle to a “strong-buy” rating in a report on Wednesday, October 8th. Erste Group Bank downgraded shares of Oracle from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. JPMorgan Chase & Co. decreased their price objective on shares of Oracle from $270.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 target price on shares of Oracle in a report on Friday, October 17th. Finally, Piper Sandler decreased their price target on Oracle from $380.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, December 11th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Oracle has an average rating of “Moderate Buy” and an average target price of $305.50.

Read Our Latest Analysis on ORCL

Oracle Stock Up 3.1%

Oracle stock opened at $204.69 on Tuesday. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $345.72. The stock’s fifty day simple moving average is $207.33 and its 200-day simple moving average is $242.25. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.28. The firm has a market capitalization of $588.11 billion, a P/E ratio of 38.48, a P/E/G ratio of 1.76 and a beta of 1.65.

Oracle (NYSE:ORCLGet Free Report) last released its earnings results on Wednesday, December 10th. The enterprise software provider reported $2.26 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.06 billion during the quarter, compared to analyst estimates of $16.19 billion. During the same period last year, the business posted $1.47 earnings per share. Oracle’s revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts expect that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, January 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.0%. Oracle’s payout ratio is currently 37.59%.

Oracle News Roundup

Here are the key news stories impacting Oracle this week:

Insider Activity

In related news, Director Jeffrey Berg sold 49,365 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $283.02, for a total value of $13,971,282.30. Following the sale, the director owned 151,999 shares of the company’s stock, valued at $43,018,756.98. This trade represents a 24.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clayton M. Magouyrk sold 10,000 shares of Oracle stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $192.52, for a total transaction of $1,925,200.00. Following the completion of the transaction, the chief executive officer owned 144,030 shares of the company’s stock, valued at $27,728,655.60. This represents a 6.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 126,588 shares of company stock valued at $33,155,596. 40.90% of the stock is owned by corporate insiders.

About Oracle

(Free Report)

Oracle Corporation is a multinational technology company that develops and sells database software, cloud engineered systems, enterprise software applications and related services. The company is widely known for its flagship Oracle Database and a portfolio of enterprise-grade software products that support data management, application development, analytics and middleware. Over recent years Oracle has expanded its focus to include cloud infrastructure and cloud applications, positioning itself as a provider of both platform and software-as-a-service solutions for large organizations.

Oracle’s product and service offerings include Oracle Database and the Autonomous Database, Oracle Cloud Infrastructure (OCI), enterprise resource planning (ERP), human capital management (HCM) and supply chain management (SCM) cloud applications (often grouped under Oracle Fusion Cloud Applications), middleware such as WebLogic, and developer technologies including Java and MySQL.

See Also

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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