Drive Wealth Management LLC Acquires 276 Shares of Oracle Co. (NYSE:ORCL)

Drive Wealth Management LLC grew its holdings in shares of Oracle Co. (NYSE:ORCL) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,891 shares of the enterprise software provider’s stock after acquiring an additional 276 shares during the quarter. Drive Wealth Management LLC’s holdings in Oracle were worth $1,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Capital World Investors increased its holdings in Oracle by 0.4% in the 1st quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock worth $2,319,604,000 after purchasing an additional 82,551 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Oracle by 2.3% in the second quarter. Legal & General Group Plc now owns 13,242,340 shares of the enterprise software provider’s stock valued at $1,869,816,000 after buying an additional 296,866 shares during the period. Janus Henderson Group PLC raised its holdings in Oracle by 148.8% in the 1st quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after buying an additional 7,699,141 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Oracle by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,318,962 shares of the enterprise software provider’s stock worth $1,033,430,000 after buying an additional 424,500 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Oracle by 0.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,182,917 shares of the enterprise software provider’s stock worth $1,015,862,000 after acquiring an additional 66,444 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Oracle Stock Performance

Shares of Oracle stock opened at $183.74 on Monday. The business’s fifty day simple moving average is $172.14 and its 200 day simple moving average is $147.06. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $191.77. The firm has a market capitalization of $509.15 billion, a P/E ratio of 47.36, a price-to-earnings-growth ratio of 3.39 and a beta of 1.02.

Oracle (NYSE:ORCL) last announced its quarterly earnings data 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 business had revenue of $13.31 billion for the quarter, compared to analyst estimates of $13.23 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

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

Insider Buying and Selling at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business’s 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 12.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 42.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Stifel Nicolaus raised their target price on Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Sanford C. Bernstein increased their price objective on shares of Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Evercore ISI boosted their target price on shares of Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Barclays increased their price target on Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Guggenheim boosted their price objective on Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $169.52.

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.