Kovack Advisors Inc. Purchases 1,919 Shares of Oracle Co. (NYSE:ORCL)

Kovack Advisors Inc. boosted its position in Oracle Co. (NYSE:ORCL) by 19.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,940 shares of the enterprise software provider’s stock after purchasing an additional 1,919 shares during the quarter. Kovack Advisors Inc.’s holdings in Oracle were worth $2,035,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Oppenheimer Asset Management Inc. increased its position in Oracle by 79.6% during 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. Oppenheimer & Co. Inc. lifted its position in Oracle by 4.2% during the third quarter. Oppenheimer & Co. Inc. now owns 62,522 shares of the enterprise software provider’s stock valued at $10,654,000 after purchasing an additional 2,509 shares in the last quarter. OLD Second National Bank of Aurora grew its holdings in Oracle by 8.0% during the third quarter. OLD Second National Bank of Aurora now owns 5,666 shares of the enterprise software provider’s stock valued at $965,000 after purchasing an additional 421 shares during the period. Pinnacle Financial Partners Inc increased its stake in shares of Oracle by 2.0% in the third quarter. Pinnacle Financial Partners Inc now owns 60,737 shares of the enterprise software provider’s stock worth $10,350,000 after purchasing an additional 1,214 shares in the last quarter. Finally, MQS Management LLC purchased a new position in Oracle in the 3rd quarter worth approximately $277,000. Institutional investors own 42.44% of the company’s stock.

Oracle Trading Up 0.2 %

Shares of NYSE ORCL traded up $0.41 during mid-day trading on Wednesday, hitting $189.99. 902,225 shares of the company traded hands, compared to its average volume of 8,233,065. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $191.50. The business has a 50 day moving average of $169.43 and a two-hundred day moving average of $145.54. 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 capitalization of $526.47 billion, a price-to-earnings ratio of 48.97, a PEG ratio of 3.49 and a beta of 1.02.

Oracle (NYSE:ORCL) last posted 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. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The firm had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts anticipate that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.84%. Oracle’s dividend payout ratio (DPR) is presently 41.24%.

Wall Street Analyst Weigh In

ORCL has been the subject of a number of recent analyst reports. Sanford C. Bernstein boosted their price objective on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Melius upgraded Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Monday, September 16th. Citigroup lifted their price objective on shares of Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. StockNews.com upgraded Oracle from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group increased their price objective on shares of Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $168.52.

Insider Activity

In related news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 42.20% of the company’s stock.

Oracle 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.