Acorn Wealth Advisors LLC Takes $244,000 Position in Oracle Co. (NYSE:ORCL)

Acorn Wealth Advisors LLC acquired a new position in shares of Oracle Co. (NYSE:ORCL) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,431 shares of the enterprise software provider’s stock, valued at approximately $244,000.

Several other large investors have also recently added to or reduced their stakes in ORCL. Principal Financial Group Inc. grew its holdings 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 valued at $411,748,000 after purchasing an additional 121,874 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in 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 worth $3,502,000 after buying an additional 3,300 shares during the last quarter. Chase Investment Counsel Corp acquired a new stake in Oracle in the third quarter worth $4,160,000. Oppenheimer Asset Management Inc. lifted its stake in Oracle by 79.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock valued at $48,813,000 after buying an additional 126,985 shares during the last quarter. Finally, Buckley Wealth Management LLC boosted its holdings in shares of Oracle by 63.8% during the third quarter. Buckley Wealth Management LLC now owns 7,370 shares of the enterprise software provider’s stock valued at $1,256,000 after acquiring an additional 2,870 shares during the period. 42.44% of the stock is currently owned by institutional investors.

Insider Transactions at Oracle

In other news, EVP Maria Smith sold 6,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at $7,076,685. This represents a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 42.20% of the stock is currently owned by insiders.

Oracle Trading Down 2.2 %

Shares of NYSE ORCL opened at $188.09 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $196.04. The company has a market cap of $521.21 billion, a price-to-earnings ratio of 48.48, a P/E/G ratio of 3.54 and a beta of 1.02. The business has a fifty day simple moving average of $175.98 and a 200-day simple moving average of $150.14.

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

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were issued a $0.40 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.85%. Oracle’s payout ratio is currently 41.24%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Melius raised shares of 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. Piper Sandler lifted their price target on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Bank of America increased their price objective on Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. KeyCorp lifted their target price on Oracle from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley increased their price target on Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.52.

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.