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

Tyche Wealth Partners LLC bought a new position in Oracle Co. (NYSE:ORCL) during the fourth quarter, HoldingsChannel reports. The fund bought 3,910 shares of the enterprise software provider’s stock, valued at approximately $412,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its stake in shares of Oracle by 0.3% in the fourth quarter. Avior Wealth Management LLC now owns 62,819 shares of the enterprise software provider’s stock worth $6,623,000 after acquiring an additional 202 shares during the period. Everence Capital Management Inc. grew its holdings in Oracle by 26.1% during the 4th quarter. Everence Capital Management Inc. now owns 77,282 shares of the enterprise software provider’s stock valued at $8,148,000 after buying an additional 16,000 shares in the last quarter. Wealth Alliance raised its position in shares of Oracle by 2.7% during the fourth quarter. Wealth Alliance now owns 12,690 shares of the enterprise software provider’s stock valued at $1,338,000 after buying an additional 336 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its holdings in shares of Oracle by 3.4% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 7,749 shares of the enterprise software provider’s stock worth $817,000 after buying an additional 253 shares in the last quarter. Finally, Main Street Research LLC boosted its position in shares of Oracle by 3.1% during the fourth quarter. Main Street Research LLC now owns 189,851 shares of the enterprise software provider’s stock worth $20,016,000 after acquiring an additional 5,662 shares during the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ORCL. Argus upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Piper Sandler cut their price target on Oracle from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, January 2nd. StockNews.com downgraded Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. The Goldman Sachs Group raised their target price on shares of Oracle from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Finally, KeyCorp started coverage on shares of Oracle in a research note on Thursday, March 21st. They issued an “overweight” rating and a $150.00 price objective for the company. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.76.

Insiders Place Their Bets

In other news, CEO Safra Catz sold 790,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $126.54, for a total value of $99,966,600.00. Following the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at $141,546,631.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 42.80% of the company’s stock.

Oracle Stock Performance

Shares of NYSE:ORCL opened at $118.67 on Thursday. Oracle Co. has a one year low of $93.29 and a one year high of $132.77. The firm’s 50 day simple moving average is $119.28 and its 200-day simple moving average is $112.78. The firm has a market cap of $326.16 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 2.33 and a beta of 1.01. The company has a debt-to-equity ratio of 13.34, a quick ratio of 0.85 and a current ratio of 0.85.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, March 11th. The enterprise software provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.04. The firm had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $13.29 billion. Oracle had a net margin of 20.27% and a return on equity of 336.11%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. As a group, equities analysts predict that Oracle Co. will post 4.44 EPS for the current year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, April 9th. Oracle’s dividend payout ratio is presently 42.22%.

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.