Precedent Wealth Partners LLC Buys New Shares in Oracle Co. (NYSE:ORCL)

by · The Markets Daily

Precedent Wealth Partners LLC purchased a new position in Oracle Co. (NYSE:ORCL – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,253 shares of the enterprise software provider’s stock, valued at approximately $214,000.

Several other institutional investors have also recently made changes to their positions in ORCL. Eagle Rock Investment Company LLC raised its stake in shares of Oracle by 0.4% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock worth $3,003,000 after acquiring an additional 64 shares in the last quarter. Versant Capital Management Inc grew its holdings in Oracle by 1.7% in the third quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock worth $674,000 after purchasing an additional 65 shares during the last quarter. Trust Point Inc. grew its holdings in Oracle by 0.5% in the third quarter. Trust Point Inc. now owns 13,606 shares of the enterprise software provider’s stock worth $2,318,000 after purchasing an additional 66 shares during the last quarter. First International Bank & Trust increased its position in shares of Oracle by 1.8% during the third quarter. First International Bank & Trust now owns 3,734 shares of the enterprise software provider’s stock worth $636,000 after purchasing an additional 67 shares in the last quarter. Finally, Adirondack Trust Co. lifted its holdings in shares of Oracle by 0.8% during the 3rd quarter. Adirondack Trust Co. now owns 8,636 shares of the enterprise software provider’s stock valued at $1,472,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Oracle Stock Performance

ORCL opened at $174.72 on Friday. The firm has a fifty day moving average price of $156.29 and a 200 day moving average price of $138.49. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $178.61. The stock has a market cap of $484.16 billion, a P/E ratio of 45.03, a P/E/G ratio of 3.25 and a beta of 1.01. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72.

Oracle (NYSE:ORCL – Get Free Report) last released its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share 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 analysts’ expectations of $13.23 billion. During the same quarter in the previous year, the company earned $0.95 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Oracle Co. will post 5 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. Oracle’s dividend payout ratio is currently 41.24%.

Insider Buying and Selling 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 stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the transaction, the executive vice president now owns 42,889 shares in the company, valued at $7,076,685. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 42.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Jefferies Financial Group boosted their target price on Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. DA Davidson boosted their price target on Oracle from $105.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Mizuho increased their price objective on shares of Oracle from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. TD Cowen boosted their target price on shares of Oracle from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Barclays raised their price target on shares of Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Oracle currently has an average rating of “Moderate Buy” and an average price target of $168.67.

Check Out Our Latest Analysis on ORCL

Oracle 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.

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