Redwood Wealth Management Group LLC Acquires Shares of 610 Oracle Co. (NYSE:ORCL)

Redwood Wealth Management Group LLC bought a new position in Oracle Co. (NYSE:ORCL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 610 shares of the enterprise software provider’s stock, valued at approximately $86,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Oracle by 1.0% during the first quarter. Vanguard Group Inc. now owns 151,213,890 shares of the enterprise software provider’s stock valued at $18,993,977,000 after buying an additional 1,514,569 shares during the last quarter. Capital World Investors raised its position in shares of Oracle by 0.4% in the 1st quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock worth $2,319,604,000 after purchasing an additional 82,551 shares during the last quarter. Parnassus Investments LLC boosted its stake in Oracle by 17.7% in the 4th quarter. Parnassus Investments LLC now owns 14,599,902 shares of the enterprise software provider’s stock worth $1,539,268,000 after purchasing an additional 2,191,342 shares in the last quarter. Janus Henderson Group PLC grew its position in Oracle by 148.8% during the 1st quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after purchasing an additional 7,699,141 shares during the last quarter. Finally, Putnam Investments LLC increased its stake in Oracle by 6.0% during the 4th quarter. Putnam Investments LLC now owns 12,339,385 shares of the enterprise software provider’s stock valued at $1,300,941,000 after purchasing an additional 697,961 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Stock Performance

Shares of ORCL opened at $162.03 on Monday. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $173.93. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68. The stock has a market cap of $446.53 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 2.89 and a beta of 1.01. The business has a 50-day simple moving average of $139.85 and a two-hundred day simple moving average of $130.16.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. The business had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 earnings per share. On average, analysts expect that Oracle Co. will post 5.03 EPS for the current year.

Oracle Dividend Announcement

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 paid a $0.40 dividend. 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 0.99%. Oracle’s payout ratio is presently 43.13%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ORCL shares. Guggenheim upped their target price on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday. Mizuho increased their target price on Oracle from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Morgan Stanley boosted 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. Piper Sandler increased their price objective on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. boosted their target price on Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $161.13.

Insider Buying and Selling at Oracle

In related news, Director Leon E. Panetta sold 15,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the sale, the director now owns 58,090 shares in the company, valued at $8,010,030.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Edward Screven sold 235,918 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $144.30, for a total transaction of $34,042,967.40. Following the completion of the transaction, the insider now owns 2,626,764 shares in the company, valued at $379,042,045.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leon E. Panetta sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total value of $2,068,350.00. Following the transaction, the director now directly owns 58,090 shares of the company’s stock, valued at $8,010,030.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,862,500 shares of company stock valued at $266,776,624 over the last ninety days. 42.80% of the stock is currently owned by company insiders.

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.