Lake Street Advisors Group LLC Acquires 251 Shares of Oracle Co. (NYSE:ORCL)

Lake Street Advisors Group LLC grew its holdings in Oracle Co. (NYSE:ORCL) by 0.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,788 shares of the enterprise software provider’s stock after buying an additional 251 shares during the period. Lake Street Advisors Group LLC’s holdings in Oracle were worth $4,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Contour Asset Management LLC lifted its stake in shares of Oracle by 41.5% in the 4th quarter. Contour Asset Management LLC now owns 2,192,950 shares of the enterprise software provider’s stock valued at $231,203,000 after purchasing an additional 643,490 shares during the last quarter. Hancock Whitney Corp lifted its position in Oracle by 12.7% in the fourth quarter. Hancock Whitney Corp now owns 29,301 shares of the enterprise software provider’s stock worth $3,089,000 after buying an additional 3,291 shares during the last quarter. Heritage Wealth Advisors boosted its stake in Oracle by 0.6% during the fourth quarter. Heritage Wealth Advisors now owns 16,995 shares of the enterprise software provider’s stock worth $1,792,000 after buying an additional 109 shares during the period. Seven Mile Advisory increased its position in Oracle by 10.6% during the fourth quarter. Seven Mile Advisory now owns 5,236 shares of the enterprise software provider’s stock valued at $552,000 after acquiring an additional 502 shares during the last quarter. Finally, Goelzer Investment Management Inc. raised its stake in shares of Oracle by 25.0% in the first quarter. Goelzer Investment Management Inc. now owns 7,492 shares of the enterprise software provider’s stock valued at $941,000 after acquiring an additional 1,500 shares during the period. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Price Performance

ORCL opened at $141.78 on Friday. The firm has a market capitalization of $390.73 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.71 and a quick ratio of 0.72. The business’s 50-day moving average is $138.72 and its two-hundred day moving average is $128.33. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $146.59.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). Oracle had a return on equity of 223.01% and a net margin of 19.76%. The firm had revenue of $14.29 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the previous year, the firm earned $1.35 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts anticipate that Oracle Co. will post 5.02 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.13%. Oracle’s dividend payout ratio is presently 43.13%.

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of recent analyst reports. TD Cowen lifted their price target on shares of Oracle from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Argus upped their target price on Oracle from $145.00 to $159.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. BMO Capital Markets raised their price target on Oracle from $142.00 to $160.00 and gave the stock a “market perform” rating in a research note on Monday, June 17th. Piper Sandler restated an “overweight” rating and set a $150.00 price objective on shares of Oracle in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. increased their target price on Oracle from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 12th. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.83.

Insider Transactions at Oracle

In related news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of Oracle stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $143.69, for a total value of $161,651,250.00. Following the completion of the sale, the chairman now directly owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Screven sold 426,861 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $141.91, for a total transaction of $60,575,844.51. Following the transaction, the insider now owns 2,626,764 shares in the company, valued at approximately $372,764,079.24. The disclosure for this sale can be found here. Insiders sold 1,862,500 shares of company stock valued at $266,776,624 in the last quarter. 42.80% of the stock is currently owned by corporate insiders.

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.