Abacus Wealth Partners LLC Makes New Investment in Oracle Co. (NYSE:ORCL)

Abacus Wealth Partners LLC acquired a new stake in shares of Oracle Co. (NYSE:ORCL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,895 shares of the enterprise software provider’s stock, valued at approximately $2,123,000. Oracle comprises approximately 0.7% of Abacus Wealth Partners LLC’s holdings, making the stock its 15th biggest holding.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Oracle by 1.4% during the 1st quarter. BlackRock Inc. now owns 117,130,967 shares of the enterprise software provider’s stock worth $10,883,809,000 after acquiring an additional 1,618,027 shares in the last quarter. State Street Corp increased its stake in Oracle by 2.6% in the first quarter. State Street Corp now owns 62,586,810 shares of the enterprise software provider’s stock valued at $5,815,566,000 after purchasing an additional 1,570,528 shares during the last quarter. Geode Capital Management LLC raised its holdings in Oracle by 0.5% during the first quarter. Geode Capital Management LLC now owns 27,753,778 shares of the enterprise software provider’s stock worth $2,572,592,000 after purchasing an additional 136,383 shares in the last quarter. FMR LLC lifted its position in shares of Oracle by 12.2% during the 1st quarter. FMR LLC now owns 24,369,890 shares of the enterprise software provider’s stock worth $2,264,450,000 after buying an additional 2,644,377 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Oracle by 9.6% in the 4th quarter. Morgan Stanley now owns 20,502,544 shares of the enterprise software provider’s stock valued at $1,675,878,000 after buying an additional 1,794,080 shares in the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jeffrey Berg sold 4,866 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $125.31, for a total value of $609,758.46. Following the sale, the director now directly owns 207,409 shares of the company’s stock, valued at approximately $25,990,421.79. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,750,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $120.95, for a total transaction of $211,662,500.00. Following the completion of the transaction, the chairman now owns 1,145,732,353 shares of the company’s stock, valued at $138,576,328,095.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Berg sold 4,866 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $125.31, for a total value of $609,758.46. Following the completion of the sale, the director now owns 207,409 shares in the company, valued at $25,990,421.79. The disclosure for this sale can be found here. Insiders sold a total of 4,175,443 shares of company stock worth $510,658,596 over the last 90 days. 43.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. BMO Capital Markets lifted their price target on shares of Oracle from $96.00 to $132.00 in a research note on Tuesday, June 13th. Evercore ISI lifted their target price on Oracle from $125.00 to $131.00 and gave the stock an “in-line” rating in a research report on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $130.00 price objective on shares of Oracle in a research note on Tuesday. JPMorgan Chase & Co. cut shares of Oracle from an “overweight” rating to a “neutral” rating and cut their target price for the company from $112.00 to $100.00 in a report on Wednesday. Finally, Guggenheim increased their price target on shares of Oracle from $120.00 to $150.00 in a research note on Tuesday, June 13th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $122.10.

Oracle Price Performance

Shares of NYSE ORCL opened at $109.61 on Wednesday. The company has a debt-to-equity ratio of 55.54, a quick ratio of 0.91 and a current ratio of 0.91. Oracle Co. has a one year low of $60.78 and a one year high of $127.54. The firm has a market capitalization of $297.51 billion, a P/E ratio of 35.82, a PEG ratio of 3.48 and a beta of 1.00. The company’s fifty day moving average is $117.41 and its two-hundred day moving average is $105.85.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, September 11th. The enterprise software provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Oracle had a net margin of 17.02% and a negative return on equity of 470.73%. The firm had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.48 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. Analysts forecast that Oracle Co. will post 4.5 EPS for the current fiscal year.

Oracle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Thursday, October 12th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.46%. Oracle’s dividend payout ratio (DPR) is 52.29%.

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.