New World Advisors LLC Buys New Position in Oracle Co. (NYSE:ORCL)

New World Advisors LLC purchased a new position in Oracle Co. (NYSE:ORCL) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,183 shares of the enterprise software provider’s stock, valued at approximately $542,000. Oracle accounts for 0.1% of New World Advisors LLC’s portfolio, making the stock its 25th biggest holding.

Several other large investors also recently bought and sold shares of ORCL. Fairway Wealth LLC acquired a new stake in shares of Oracle in the 2nd quarter valued at about $27,000. POM Investment Strategies LLC bought a new stake in shares of Oracle in the 2nd quarter valued at approximately $30,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Oracle during the 2nd quarter valued at approximately $35,000. Quest Partners LLC bought a new position in Oracle during the second quarter worth $40,000. Finally, Avondale Wealth Management acquired a new position in Oracle in the third quarter worth $51,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Insider Transactions at Oracle

In related news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction 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 owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 42.80% of the stock is currently owned by company insiders.

Oracle Stock Down 0.5 %

Shares of ORCL stock traded down $0.86 on Friday, reaching $173.52. 3,674,717 shares of the company’s stock traded hands, compared to its average volume of 8,360,906. The business’s 50 day moving average price is $160.15 and its two-hundred day moving average price is $140.31. The company has a market capitalization of $478.20 billion, a P/E ratio of 46.77, a price-to-earnings-growth ratio of 3.23 and a beta of 1.01. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $178.61.

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

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio is 43.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays increased their price objective on shares of Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Melius upgraded Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Monday, September 16th. Piper Sandler raised their target price on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Royal Bank of Canada assumed coverage on Oracle in a research report on Wednesday. They set a “sector perform” rating and a $165.00 price objective for the company. Finally, Bank of America lifted their target price on Oracle from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Twelve analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $168.52.

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.