Truist Financial Corp Has $296.80 Million Stock Position in Oracle Co. (NYSE:ORCL)

Truist Financial Corp boosted its stake in shares of Oracle Co. (NYSE:ORCL) by 9.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,101,946 shares of the enterprise software provider’s stock after purchasing an additional 180,266 shares during the period. Truist Financial Corp owned 0.08% of Oracle worth $296,795,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Westend Capital Management LLC bought a new stake in shares of Oracle during the 1st quarter valued at $25,000. Fairway Wealth LLC bought a new stake in shares of Oracle during the second quarter worth about $27,000. Frank Rimerman Advisors LLC bought a new position in shares of Oracle during the fourth quarter valued at $30,000. POM Investment Strategies LLC bought a new position in shares of Oracle during the second quarter worth about $30,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Oracle in the 2nd quarter worth approximately $35,000. 42.44% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $7,076,685. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of Oracle stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the sale, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. The disclosure for this sale can be found here. Insiders have sold a total of 1,573,181 shares of company stock valued at $225,338,245 in the last 90 days. 42.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ORCL shares. Oppenheimer restated a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. KeyCorp upped their target price on shares of Oracle from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Morgan Stanley raised their target price on Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Melius upgraded Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Monday, September 16th. Finally, Argus raised their price target on Oracle from $145.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Oracle has a consensus rating of “Moderate Buy” and an average price target of $167.42.

Oracle Price Performance

Shares of NYSE:ORCL opened at $170.39 on Tuesday. The company has a market capitalization of $472.15 billion, a PE ratio of 45.93, a price-to-earnings-growth ratio of 3.05 and a beta of 1.01. The stock has a fifty day moving average of $145.57 and a 200-day moving average of $134.11. 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 Co. has a one year low of $99.26 and a one year high of $173.99.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. During the same period in the previous year, the company earned $0.95 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Oracle Co. will post 5.01 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. Investors of record on Thursday, October 10th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is 43.13%.

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.