Legacy Wealth Asset Management LLC Buys New Position in Oracle Co. (NYSE:ORCL)

Legacy Wealth Asset Management LLC bought a new stake in shares of Oracle Co. (NYSE:ORCL) in the 3rd quarter, HoldingsChannel reports. The firm bought 1,392 shares of the enterprise software provider’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC bought a new position in Oracle in the second quarter valued at $27,000. POM Investment Strategies LLC bought a new position in shares of Oracle during the 2nd quarter valued at about $30,000. Bbjs Financial Advisors LLC purchased a new position in shares of Oracle during the 2nd quarter valued at about $35,000. Quest Partners LLC bought a new stake in Oracle in the 2nd quarter worth approximately $40,000. Finally, Avondale Wealth Management purchased a new stake in Oracle in the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

ORCL has been the subject of a number of research reports. BMO Capital Markets upped their price objective on shares of Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. JMP Securities raised their price objective on Oracle from $175.00 to $205.00 and gave the company a “market outperform” rating in a research note on Friday, October 18th. Oppenheimer reissued a “market perform” rating on shares of Oracle in a research note on Tuesday, September 10th. Piper Sandler raised their price target on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Finally, UBS Group reiterated a “market outperform” rating on shares of Oracle in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $168.52.

Insider Buying and Selling

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 42.80% of the stock is currently owned by company insiders.

Oracle Trading Down 0.5 %

NYSE ORCL opened at $173.52 on Friday. The firm has a market capitalization of $478.20 billion, a PE ratio of 46.77, a P/E/G ratio of 3.23 and a beta of 1.01. The stock’s 50 day moving average is $160.15 and its 200 day moving average is $140.31. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $178.61. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last released its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping 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 firm had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same period in the prior year, the firm earned $0.95 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a $0.40 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. Oracle’s dividend payout ratio is currently 43.13%.

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.