Bridges Investment Management Inc. Buys 3,191 Shares of Oracle Co. (NYSE:ORCL)

Bridges Investment Management Inc. raised its position in shares of Oracle Co. (NYSE:ORCL) by 16.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,670 shares of the enterprise software provider’s stock after acquiring an additional 3,191 shares during the period. Bridges Investment Management Inc.’s holdings in Oracle were worth $3,201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Westend Capital Management LLC acquired a new position in Oracle in the 1st quarter valued at $25,000. Fairway Wealth LLC acquired a new position in shares of Oracle in the second quarter valued at about $27,000. Tidemark LLC bought a new position in Oracle during the fourth quarter worth about $29,000. Frank Rimerman Advisors LLC acquired a new stake in Oracle in the 4th quarter worth about $30,000. Finally, POM Investment Strategies LLC bought a new stake in Oracle in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ORCL shares. Barclays increased their price target on Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Piper Sandler raised their target price on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Citigroup increased their price target on shares of Oracle from $140.00 to $157.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Melius raised Oracle from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a report on Monday, September 16th. Finally, Guggenheim lifted their price target on Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Eleven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $163.88.

Oracle Stock Up 0.2 %

Shares of NYSE:ORCL opened at $167.96 on Friday. The firm has a market cap of $465.41 billion, a P/E ratio of 45.27, a PEG ratio of 3.21 and a beta of 1.01. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $173.99. The business’s 50 day simple moving average is $142.30 and its two-hundred day simple moving average is $131.81. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $13.23 billion. During the same quarter in the previous year, the business posted $0.95 EPS. Oracle’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts forecast that Oracle Co. will post 5.01 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be paid a $0.40 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. Oracle’s payout ratio is 43.13%.

Insider Activity

In other Oracle news, insider Edward Screven sold 37,221 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $140.19, for a total value of $5,218,011.99. Following the completion of the sale, the insider now directly owns 2,626,764 shares of the company’s stock, valued at approximately $368,246,045.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the transaction, the chairman now owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Edward Screven sold 37,221 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $140.19, for a total value of $5,218,011.99. Following the completion of the transaction, the insider now owns 2,626,764 shares of the company’s stock, valued at approximately $368,246,045.16. The disclosure for this sale can be found here. Insiders sold a total of 1,610,402 shares of company stock worth $230,556,257 over the last quarter. Insiders own 42.80% 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.