Oracle Co. (NYSE:ORCL) Shares Purchased by Corebridge Financial Inc.

Corebridge Financial Inc. increased its holdings in Oracle Co. (NYSE:ORCL) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 432,522 shares of the enterprise software provider’s stock after purchasing an additional 10,711 shares during the quarter. Oracle accounts for about 0.4% of Corebridge Financial Inc.’s holdings, making the stock its 26th largest holding. Corebridge Financial Inc.’s holdings in Oracle were worth $72,075,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. United Services Automobile Association lifted its position in shares of Oracle by 0.4% during the 4th quarter. United Services Automobile Association now owns 36,941 shares of the enterprise software provider’s stock valued at $6,156,000 after buying an additional 140 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in Oracle during the fourth quarter valued at $117,000. Emerald Advisers LLC acquired a new stake in shares of Oracle in the fourth quarter valued at about $441,000. Vanguard Group Inc. increased its stake in shares of Oracle by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 157,411,949 shares of the enterprise software provider’s stock worth $26,231,127,000 after purchasing an additional 2,296,069 shares in the last quarter. Finally, Haverford Financial Services Inc. raised its position in shares of Oracle by 0.4% during the 4th quarter. Haverford Financial Services Inc. now owns 95,444 shares of the enterprise software provider’s stock worth $15,905,000 after purchasing an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ORCL shares. Stephens initiated coverage on Oracle in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $167.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on Oracle from $140.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Guggenheim restated a “buy” rating and issued a $220.00 price objective on shares of Oracle in a report on Wednesday, March 5th. DA Davidson reaffirmed a “neutral” rating and set a $150.00 target price on shares of Oracle in a research note on Tuesday, March 11th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $205.00 target price on shares of Oracle in a research report on Wednesday, January 22nd. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Oracle presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.20.

Oracle Price Performance

Oracle stock opened at $152.83 on Monday. The company’s 50 day simple moving average is $164.87 and its 200-day simple moving average is $170.27. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81. Oracle Co. has a 1 year low of $112.78 and a 1 year high of $198.31. The company has a market capitalization of $427.45 billion, a price-to-earnings ratio of 37.37, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The firm had revenue of $14.13 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same period in the previous year, the firm earned $1.41 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts expect that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.31%. This is a boost from Oracle’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Oracle’s dividend payout ratio (DPR) is 46.95%.

Insider Buying and Selling at Oracle

In other Oracle news, CEO Safra Catz sold 345,174 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $185.56, for a total value of $64,050,487.44. Following the completion of the transaction, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $207,565,931.52. This trade represents a 23.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 42.20% of the stock is currently owned by corporate 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.