Investment firm McDaniel Terry & Co. has acquired a new stake in Oracle Corporation during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the institutional investor purchased 1,156 shares of Oracle’s stock, valued at approximately $253,000.
Several other institutional investors have also adjusted their holdings in Oracle. Vanguard Group Inc. increased its position by 2.2% in the first quarter, now owning 160,925,413 shares valued at $22.5 billion after acquiring an additional 3,513,464 shares last quarter. Northern Trust Corp raised its holdings by 0.6%, bringing its total to 19,741,423 shares, valued at $2.76 billion after an additional purchase of 120,889 shares.
Additionally, UBS Asset Management increased its stake by 0.4%, now holding 13,884,524 shares worth $1.94 billion. Amundi boosted its holdings by 3.3%, owning 12,736,855 shares valued at $1.75 billion, while Polen Capital Management LLC saw a significant increase of 17.6% in its holdings, now owning 12,609,101 shares valued at $1.76 billion. Hedge funds and other institutional investors currently hold 42.44% of Oracle’s stock.
Oracle Stock Performance and Recent Developments
As of Friday, October 20, 2023, Oracle shares opened at $283.45. Over the past twelve months, the stock has experienced a low of $118.86 and a high of $345.72. The company boasts a market capitalization of $808.05 billion, a price-to-earnings (PE) ratio of 65.61, and a beta of 1.53. The current ratio and quick ratio stand at 0.62, while the debt-to-equity ratio is 3.33. Oracle’s 50-day moving average price is $274.59, and the 200-day moving average price is $220.37.
The company also declared a quarterly dividend of $0.50 per share, which was paid on October 23, 2023. Stockholders of record as of October 9 received this dividend, reflecting an annualized dividend of $2.00 and a yield of 0.7%. Oracle’s current payout ratio is 46.30%.
Analyst Ratings and Insider Activity
Analysts have been actively discussing Oracle’s stock. DA Davidson recently raised its target price from $220.00 to $300.00, maintaining a “neutral” rating. TD Cowen increased its price objective from $325.00 to $375.00, assigning a “buy” rating. Meanwhile, Rothschild Redb downgraded Oracle to a “strong sell” rating, contrasting with Baird R W, which upgraded the stock to a “strong buy.” Piper Sandler also lifted its price target from $330.00 to $380.00 while maintaining an “overweight” rating.
Currently, three analysts rate Oracle as a Strong Buy, twenty-seven as Buy, nine as Hold, and two as Sell. According to MarketBeat, Oracle has a consensus rating of “Moderate Buy” with an average target price of $323.69.
In related insider activity, Stuart Levey, Executive Vice President, sold 19,758 shares at an average price of $300.00, totaling approximately $5.93 million. Following this transaction, Levey holds 18,429 shares, valued at around $5.53 million, marking a decrease of 51.74% in ownership. Another insider, Michael D. Sicilia, sold 33,845 shares at an average price of $321.16, totaling about $10.87 million, leading to a 20.33% reduction in ownership.
Over the last 90 days, insiders have sold a total of 170,769 shares worth approximately $50.3 million, and insiders currently own 40.90% of the company’s stock.
Founded in 1977, Oracle Corporation provides a range of products and services that cater to enterprise information technology environments globally. Its offerings include a variety of cloud software applications, such as Oracle Fusion cloud services for enterprise resource planning, supply chain management, and human capital management, among others.
