Fulton Bank N.A. Raises Holdings in Oracle Co. (NYSE:ORCL)

Fulton Bank N.A. increased its position in Oracle Co. (NYSE:ORCL) by 12.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,357 shares of the enterprise software provider’s stock after acquiring an additional 1,109 shares during the quarter. Fulton Bank N.A.’s holdings in Oracle were worth $1,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Oracle during the 4th quarter valued at $1,409,896,000. Moneta Group Investment Advisors LLC increased its position in shares of Oracle by 112,785.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,832,530 shares of the enterprise software provider’s stock valued at $885,451,000 after buying an additional 10,822,934 shares during the period. Harris Associates L P lifted its holdings in shares of Oracle by 31.3% in the fourth quarter. Harris Associates L P now owns 19,160,481 shares of the enterprise software provider’s stock worth $1,566,178,000 after buying an additional 4,570,472 shares in the last quarter. Putnam Investments LLC lifted its holdings in shares of Oracle by 50.0% in the first quarter. Putnam Investments LLC now owns 10,989,627 shares of the enterprise software provider’s stock worth $1,021,156,000 after buying an additional 3,664,269 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in Oracle by 89.8% during the fourth quarter. Neuberger Berman Group LLC now owns 6,929,363 shares of the enterprise software provider’s stock valued at $565,961,000 after acquiring an additional 3,277,738 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Edward Screven sold 354,837 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $123.39, for a total value of $43,783,337.43. Following the completion of the transaction, the insider now owns 2,543,033 shares in the company, valued at approximately $313,784,841.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Edward Screven sold 354,837 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $123.39, for a total value of $43,783,337.43. Following the completion of the transaction, the insider now directly owns 2,543,033 shares in the company, valued at approximately $313,784,841.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Lawrence Joseph Ellison sold 1,750,000 shares of Oracle stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $123.10, for a total transaction of $215,425,000.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $141,039,652,654.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,949,837 shares of company stock worth $482,142,887. Company insiders own 43.70% of the company’s stock.

Oracle Price Performance

Shares of ORCL stock opened at $113.66 on Friday. The company has a debt-to-equity ratio of 29.72, a quick ratio of 0.91 and a current ratio of 0.87. Oracle Co. has a fifty-two week low of $60.78 and a fifty-two week high of $127.54. The firm has a market cap of $311.41 billion, a P/E ratio of 33.83, a P/E/G ratio of 2.89 and a beta of 1.00. The business’s 50 day moving average price is $117.33 and its 200-day moving average price is $105.89.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, September 11th. The enterprise software provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The business had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.48 billion. Oracle had a net margin of 18.40% and a negative return on equity of 3,631.39%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. On average, equities research analysts anticipate that Oracle Co. will post 4.48 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 26th. Shareholders of record on Thursday, October 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.41%. Oracle’s payout ratio is 47.62%.

Wall Street Analyst Weigh In

Several brokerages have commented on ORCL. Piper Sandler reissued an “overweight” rating and issued a $130.00 price target on shares of Oracle in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Oracle from $120.00 to $135.00 in a research note on Tuesday, June 13th. UBS Group decreased their target price on Oracle from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday. HSBC assumed coverage on Oracle in a research report on Friday. They set a “buy” rating and a $144.00 price target for the company. Finally, Monness Crespi & Hardt cut shares of Oracle from a “buy” rating to a “neutral” rating in a research report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.06.

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.