Mirae Asset Global Investments Co. Ltd. Acquires 154,441 Shares of Oracle Co. (NYSE:ORCL)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Oracle Co. (NYSE:ORCL) by 39.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 542,580 shares of the enterprise software provider’s stock after purchasing an additional 154,441 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Oracle were worth $64,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ORCL. Fairfield Bush & CO. lifted its stake in Oracle by 3.1% in the first quarter. Fairfield Bush & CO. now owns 73,791 shares of the enterprise software provider’s stock worth $6,105,000 after acquiring an additional 2,221 shares during the period. AMI Investment Management Inc. boosted its stake in shares of Oracle by 2.9% during the first quarter. AMI Investment Management Inc. now owns 20,467 shares of the enterprise software provider’s stock valued at $1,693,000 after purchasing an additional 579 shares in the last quarter. Baird Financial Group Inc. raised its stake in Oracle by 29.2% in the first quarter. Baird Financial Group Inc. now owns 588,460 shares of the enterprise software provider’s stock worth $48,686,000 after buying an additional 132,920 shares in the last quarter. Zions Bancorporation N.A. boosted its position in Oracle by 79.6% during the 1st quarter. Zions Bancorporation N.A. now owns 6,854 shares of the enterprise software provider’s stock valued at $567,000 after acquiring an additional 3,038 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Oracle by 125.2% in the 1st quarter. Covestor Ltd now owns 1,995 shares of the enterprise software provider’s stock valued at $165,000 after acquiring an additional 1,109 shares during the period. 42.44% of the stock is currently owned by institutional investors.

Oracle Stock Performance

NYSE ORCL opened at $115.36 on Friday. The stock has a market capitalization of $316.01 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 2.92 and a beta of 1.03. Oracle Co. has a twelve month low of $78.06 and a twelve month high of $127.54. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 29.72. The stock has a 50-day moving average of $108.95 and a 200 day moving average of $111.52.

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, topping analysts’ consensus estimates of $1.15 by $0.04. Oracle had a negative return on equity of 3,631.39% and a net margin of 18.40%. The company had revenue of $12.45 billion during the quarter, compared to analysts’ expectations of $12.48 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. Oracle’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that Oracle Co. will post 4.48 EPS for the current fiscal year.

Oracle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Thursday, October 12th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. Oracle’s payout ratio is currently 47.62%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ORCL. Jefferies Financial Group raised their price objective on Oracle from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, September 7th. Piper Sandler reaffirmed an “overweight” rating and set a $130.00 price target on shares of Oracle in a research report on Friday, September 22nd. Monness Crespi & Hardt cut Oracle from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 12th. Morgan Stanley raised their price target on Oracle from $106.00 to $107.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. Finally, Barclays decreased their price objective on shares of Oracle from $150.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. Eleven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.23.

Insider Buying and Selling at Oracle

In other Oracle news, Director George H. Conrades sold 2,325 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $111.97, for a total transaction of $260,330.25. Following the completion of the transaction, the director now owns 20,161 shares of the company’s stock, valued at $2,257,427.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.