Sound Income Strategies LLC Raises Stock Position in Oracle Co. (NYSE:ORCL)

Posted by Max Byerly on Mar 19th, 2023

Sound Income Strategies LLC boosted its stake in Oracle Co. (NYSE:ORCL – Get Rating) by 93.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,744 shares of the enterprise software provider’s stock after purchasing an additional 1,325 shares during the period. Sound Income Strategies LLC’s holdings in Oracle were worth $224,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pacifica Partners Inc. boosted its holdings in shares of Oracle by 108.9% in the third quarter. Pacifica Partners Inc. now owns 401 shares of the enterprise software provider’s stock worth $29,000 after buying an additional 209 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Oracle in the third quarter worth approximately $28,000. FSC Wealth Advisors LLC bought a new position in Oracle in the third quarter worth approximately $29,000. Cowa LLC purchased a new position in shares of Oracle during the 3rd quarter worth $30,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Oracle during the 3rd quarter valued at $31,000. 40.96% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Price Performance

Shares of NYSE ORCL opened at $85.26 on Friday. Oracle Co. has a 1-year low of $60.78 and a 1-year high of $91.22. The business’s 50 day moving average is $87.66 and its two-hundred day moving average is $79.45. The stock has a market capitalization of $230.18 billion, a P/E ratio of 28.14, a PEG ratio of 2.66 and a beta of 1.02.

Oracle (NYSE:ORCL – Get Rating) last released its earnings results on Thursday, March 9th. The enterprise software provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.02. Oracle had a negative return on equity of 262.40% and a net margin of 17.46%. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $12.42 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Oracle Co. will post 3.99 earnings per share for the current fiscal year.

Oracle Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 24th. Stockholders of record on Tuesday, April 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, April 10th. This is a positive change from Oracle’s previous quarterly dividend of $0.32. Oracle’s dividend payout ratio (DPR) is 42.24%.

Insider Buying and Selling

In related news, Director Rona Alison Fairhead sold 8,080 shares of the stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $89.82, for a total value of $725,745.60. Following the sale, the director now directly owns 11,197 shares of the company’s stock, valued at approximately $1,005,714.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 43.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on ORCL shares. Evercore ISI boosted their price target on Oracle from $87.00 to $95.00 in a report on Friday, March 10th. Piper Sandler reissued an “overweight” rating and issued a $104.00 target price on shares of Oracle in a report on Friday, March 10th. StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Friday, March 10th. Mizuho reissued a “buy” rating and issued a $116.00 price objective on shares of Oracle in a research note on Monday, March 6th. Finally, Cowen lowered their target price on shares of Oracle from $98.00 to $96.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.06.

Oracle Company Profile

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Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.