Friedenthal Financial Makes New $51,000 Investment in Oracle Co. (NYSE:ORCL)

20 Oct 2024, 00:24 by Danessa Lincoln · The Markets Daily

Friedenthal Financial bought a new stake in Oracle Co. (NYSE:ORCL – Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 300 shares of the enterprise software provider’s stock, valued at approximately $51,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. NovaPoint Capital LLC boosted its position in Oracle by 3.5% during the third quarter. NovaPoint Capital LLC now owns 26,812 shares of the enterprise software provider’s stock worth $4,569,000 after purchasing an additional 904 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. raised its position in Oracle by 5.1% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 170,461 shares of the enterprise software provider’s stock worth $29,047,000 after acquiring an additional 8,278 shares during the period. Blue Trust Inc. grew its position in shares of Oracle by 22.8% in the third quarter. Blue Trust Inc. now owns 27,189 shares of the enterprise software provider’s stock valued at $4,633,000 after purchasing an additional 5,053 shares during the period. Meridian Financial Partners LLC purchased a new stake in shares of Oracle during the third quarter worth about $231,000. Finally, Moss Adams Wealth Advisors LLC raised its position in shares of Oracle by 16.2% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 9,948 shares of the enterprise software provider’s stock worth $1,695,000 after purchasing an additional 1,386 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ORCL. UBS Group reissued a “market outperform” rating on shares of Oracle in a report on Friday. Guggenheim upped their target price on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, September 13th. TD Cowen raised their price target on shares of Oracle from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Stifel Nicolaus boosted their price target on shares of Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Melius Research upgraded shares of Oracle from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and an average price target of $168.67.

Get Our Latest Stock Analysis on Oracle

Oracle Trading Down 0.6 %

Shares of Oracle stock opened at $174.69 on Friday. The company has a 50-day moving average of $156.29 and a two-hundred day moving average of $138.49. The stock has a market cap of $484.08 billion, a PE ratio of 45.03, a price-to-earnings-growth ratio of 3.25 and a beta of 1.01. The company has a current ratio of 0.72, a quick 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 $178.61.

Oracle (NYSE:ORCL – Get Free Report) last issued its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The firm had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. Oracle’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. On average, research analysts anticipate that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, October 10th. Oracle’s payout ratio is currently 41.24%.

Insider Buying and Selling at Oracle

In other news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 of the company’s stock, valued at $7,076,685. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 42.20% of the company’s stock.

Oracle Company Profile

(Free Report)

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.