Drive Wealth Management LLC Has $1.17 Million Stock Holdings in Oracle Co. (NYSE:ORCL)

Drive Wealth Management LLC grew its position in Oracle Co. (NYSE:ORCL) by 4.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,891 shares of the enterprise software provider’s stock after buying an additional 276 shares during the period. Drive Wealth Management LLC’s holdings in Oracle were worth $1,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Oracle by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after purchasing an additional 121,874 shares during the last quarter. Itau Unibanco Holding S.A. raised its stake in shares of Oracle by 15.3% during the second quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock worth $3,502,000 after buying an additional 3,300 shares during the last quarter. Chase Investment Counsel Corp acquired a new position in Oracle in the third quarter valued at approximately $4,160,000. Oppenheimer Asset Management Inc. boosted its stake in Oracle by 79.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock valued at $48,813,000 after acquiring an additional 126,985 shares during the last quarter. Finally, Buckley Wealth Management LLC boosted its position in shares of Oracle by 63.8% in the 3rd quarter. Buckley Wealth Management LLC now owns 7,370 shares of the enterprise software provider’s stock worth $1,256,000 after purchasing an additional 2,870 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Melius raised shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Monday, September 16th. Evercore ISI upped their price objective on shares of Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Sanford C. Bernstein lifted their target price on Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Melius Research upgraded Oracle from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $169.52.

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction 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 12.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 42.20% of the company’s stock.

Oracle Price Performance

Shares of ORCL opened at $183.74 on Monday. The company has a market cap of $509.15 billion, a price-to-earnings ratio of 47.36, a PEG ratio of 3.39 and a beta of 1.02. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The company’s fifty day simple moving average is $172.14 and its 200 day simple moving average is $147.06. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $191.77.

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

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s payout ratio is 41.24%.

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.