Meiji Yasuda Asset Management Co Ltd. Increases Stake in Oracle Co. (NYSE:ORCL)

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Oracle Co. (NYSE:ORCL) by 6.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,689 shares of the enterprise software provider’s stock after purchasing an additional 2,103 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Oracle were worth $4,757,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Argent Trust Co boosted its position in shares of Oracle by 7.2% during the second quarter. Argent Trust Co now owns 104,852 shares of the enterprise software provider’s stock valued at $14,805,000 after buying an additional 7,025 shares during the period. Meridian Wealth Partners LLC lifted its stake in shares of Oracle by 5.7% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,740 shares of the enterprise software provider’s stock worth $387,000 after acquiring an additional 148 shares during the last quarter. E Fund Management Co. Ltd. boosted its holdings in Oracle by 32.2% during the 2nd quarter. E Fund Management Co. Ltd. now owns 26,279 shares of the enterprise software provider’s stock valued at $3,711,000 after acquiring an additional 6,406 shares during the period. Lumbard & Kellner LLC bought a new position in Oracle in the 2nd quarter valued at $9,524,000. Finally, Axxcess Wealth Management LLC increased its stake in Oracle by 6.6% in the second quarter. Axxcess Wealth Management LLC now owns 28,203 shares of the enterprise software provider’s stock worth $3,982,000 after purchasing an additional 1,745 shares during the period. 42.44% of the stock is currently owned by institutional investors.

Insider Transactions at Oracle

In related news, insider Edward Screven sold 426,861 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $141.91, for a total value of $60,575,844.51. Following the completion of the transaction, the insider now directly owns 2,626,764 shares of the company’s stock, valued at approximately $372,764,079.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Oracle news, insider Edward Screven sold 426,861 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $141.91, for a total transaction of $60,575,844.51. Following the sale, the insider now owns 2,626,764 shares of the company’s stock, valued at approximately $372,764,079.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the completion of the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,610,402 shares of company stock worth $230,556,257. Insiders own 42.80% of the company’s stock.

Oracle Trading Down 1.8 %

NYSE ORCL opened at $164.49 on Thursday. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $173.99. The company has a 50 day moving average price of $141.34 and a 200 day moving average price of $131.19. 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 firm has a market cap of $453.31 billion, a PE ratio of 44.34, a price-to-earnings-growth ratio of 2.95 and a beta of 1.01.

Oracle (NYSE:ORCL) last released its quarterly 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. The business had revenue of $13.31 billion for the quarter, compared to analyst estimates of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. As a group, sell-side analysts forecast that Oracle Co. will post 5.06 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.97%. The ex-dividend date is Thursday, October 10th. Oracle’s dividend payout ratio is presently 43.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler boosted their target price on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Stifel Nicolaus upped their target price on shares of Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Morgan Stanley lifted their price target on shares of Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. StockNews.com upgraded Oracle from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group raised their price objective on Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Monday. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.88.

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.