Asahi Life Asset Management CO. LTD. Purchases New Stake in Oracle Co. (NYSE:ORCL)

by · The Markets Daily

Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Oracle Co. (NYSE:ORCL – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,720 shares of the enterprise software provider’s stock, valued at approximately $975,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eagle Rock Investment Company LLC increased its position in Oracle by 0.4% during the third quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock valued at $3,003,000 after acquiring an additional 64 shares during the last quarter. Versant Capital Management Inc increased its position in Oracle by 1.7% during the third quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock valued at $674,000 after acquiring an additional 65 shares during the last quarter. Trust Point Inc. increased its position in Oracle by 0.5% during the third quarter. Trust Point Inc. now owns 13,606 shares of the enterprise software provider’s stock valued at $2,318,000 after acquiring an additional 66 shares during the last quarter. First International Bank & Trust increased its position in Oracle by 1.8% during the third quarter. First International Bank & Trust now owns 3,734 shares of the enterprise software provider’s stock valued at $636,000 after acquiring an additional 67 shares during the last quarter. Finally, Adirondack Trust Co. increased its position in Oracle by 0.8% during the third quarter. Adirondack Trust Co. now owns 8,636 shares of the enterprise software provider’s stock valued at $1,472,000 after acquiring an additional 67 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

Oracle Price Performance

Shares of NYSE:ORCL traded down $0.40 during midday trading on Monday, reaching $173.12. 839,444 shares of the company’s stock traded hands, compared to its average volume of 8,324,757. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $178.61. The company has a market cap of $477.09 billion, a P/E ratio of 46.66, a PEG ratio of 3.23 and a beta of 1.01. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The company has a fifty day simple moving average of $160.15 and a two-hundred day simple moving average of $140.45.

Oracle (NYSE:ORCL – Get Free Report) last announced its earnings results 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. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion for the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts predict that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.92%. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

Analysts Set New Price Targets

A number of research analysts have recently commented on ORCL shares. Royal Bank of Canada started coverage on shares of Oracle in a report on Wednesday, October 23rd. They issued a “sector perform” rating and a $165.00 price target on the stock. Sanford C. Bernstein upped their price target on shares of Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Guggenheim upped their price target on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, September 13th. DA Davidson upped their price target on shares of Oracle from $105.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Finally, Barclays upped their price objective on shares of Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.52.

Get Our Latest Research Report on ORCL

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction 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 sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at $7,076,685. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 42.80% of the stock is currently owned by corporate insiders.

About Oracle

(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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