Patten Group Inc. Acquires 2,870 Shares of Oracle Co. (NYSE:ORCL)

Patten Group Inc. increased its holdings in Oracle Co. (NYSE:ORCL) by 69.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,980 shares of the enterprise software provider’s stock after buying an additional 2,870 shares during the period. Patten Group Inc.’s holdings in Oracle were worth $1,189,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Visionary Wealth Advisors lifted its stake in Oracle by 29.5% in the 4th quarter. Visionary Wealth Advisors now owns 10,939 shares of the enterprise software provider’s stock worth $1,153,000 after purchasing an additional 2,494 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in Oracle in the 4th quarter worth approximately $608,000. Hancock Whitney Corp lifted its stake in Oracle by 12.7% in the 4th quarter. Hancock Whitney Corp now owns 29,301 shares of the enterprise software provider’s stock worth $3,089,000 after purchasing an additional 3,291 shares in the last quarter. BOKF NA lifted its stake in Oracle by 0.6% in the 4th quarter. BOKF NA now owns 102,830 shares of the enterprise software provider’s stock worth $10,841,000 after purchasing an additional 649 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its stake in Oracle by 21.4% in the 4th quarter. Jacobi Capital Management LLC now owns 13,095 shares of the enterprise software provider’s stock worth $1,381,000 after purchasing an additional 2,310 shares in the last quarter. 42.44% of the stock is owned by institutional investors.

Oracle Trading Up 2.2 %

Shares of NYSE ORCL opened at $178.20 on Thursday. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $178.61. The stock has a market cap of $491.09 billion, a P/E ratio of 48.03, a price-to-earnings-growth ratio of 3.09 and a beta of 1.01. The firm has a 50-day moving average of $149.25 and a 200 day moving average of $135.86. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. During the same period last year, the company posted $0.95 EPS. Oracle’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be issued a $0.40 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.90%. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of Oracle from $160.00 to $173.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. Mizuho increased their target price on shares of Oracle from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Oppenheimer reiterated a “market perform” rating on shares of Oracle in a research note on Tuesday, September 10th. StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, Evercore ISI raised their price objective on shares of Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.42.

Insiders Place Their Bets

In other news, Director Leon E. Panetta sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the transaction, the director now directly owns 58,090 shares of the company’s stock, valued at $8,010,030.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Leon E. Panetta sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the transaction, the director now directly owns 58,090 shares of the company’s stock, valued at $8,010,030.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,146,320 shares of company stock valued at $164,762,400. Insiders own 42.80% of the company’s stock.

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.