Shum Financial Group Inc. Buys Shares of 5,691 Oracle Co. (NYSE:ORCL)

Shum Financial Group Inc. bought a new stake in Oracle Co. (NYSE:ORCL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,691 shares of the enterprise software provider’s stock, valued at approximately $978,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Waverly Advisors LLC boosted its position in shares of Oracle by 78.0% during the first quarter. Waverly Advisors LLC now owns 13,807 shares of the enterprise software provider’s stock worth $1,734,000 after buying an additional 6,049 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Oracle by 3.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 52,466 shares of the enterprise software provider’s stock worth $6,590,000 after buying an additional 1,509 shares during the period. Redwood Investment Management LLC acquired a new position in shares of Oracle during the first quarter worth about $440,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Oracle during the first quarter worth about $322,000. Finally, Comerica Bank boosted its position in shares of Oracle by 0.7% during the first quarter. Comerica Bank now owns 555,807 shares of the enterprise software provider’s stock worth $69,815,000 after buying an additional 4,044 shares during the period. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This trade represents a 12.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 42.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on ORCL. Piper Sandler increased their price target on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. BMO Capital Markets increased their price target on Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Morgan Stanley increased their price target on Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. KeyCorp increased their price target on Oracle from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Oppenheimer reissued a “market perform” rating on shares of Oracle in a research report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.52.

Oracle Price Performance

Shares of NYSE ORCL traded up $2.19 during mid-day trading on Tuesday, hitting $190.18. 1,158,891 shares of the stock traded hands, compared to its average volume of 8,236,646. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $196.04. The company has a market cap of $527.00 billion, a PE ratio of 48.48, a price-to-earnings-growth ratio of 3.54 and a beta of 1.02. The firm has a 50 day simple moving average of $175.98 and a two-hundred day simple moving average of $150.14.

Oracle (NYSE:ORCL) last released its quarterly earnings data 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 company had revenue of $13.31 billion for 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%. Oracle’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. As a group, equities research analysts forecast that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.84%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio is currently 41.24%.

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.