Independence Bank of Kentucky Has $4.97 Million Stock Position in Oracle Co. (NYSE:ORCL)

Independence Bank of Kentucky lifted its position in shares of Oracle Co. (NYSE:ORCL - Free Report) by 65.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 29,158 shares of the enterprise software provider's stock after purchasing an additional 11,546 shares during the quarter. Oracle comprises approximately 1.1% of Independence Bank of Kentucky's holdings, making the stock its 20th largest holding. Independence Bank of Kentucky's holdings in Oracle were worth $4,969,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in Oracle by 148.8% in the 1st quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider's stock worth $1,616,855,000 after acquiring an additional 7,699,141 shares during the period. PineStone Asset Management Inc. boosted its holdings in Oracle by 131.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider's stock worth $552,262,000 after acquiring an additional 2,219,450 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Oracle by 97.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,242,647 shares of the enterprise software provider's stock worth $532,920,000 after acquiring an additional 2,093,893 shares during the period. Altshuler Shaham Ltd boosted its holdings in Oracle by 5,853.1% in the 2nd quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider's stock worth $219,224,000 after acquiring an additional 1,526,500 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Oracle by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 151,213,890 shares of the enterprise software provider's stock worth $18,993,977,000 after acquiring an additional 1,514,569 shares during the period. Hedge funds and other institutional investors own 42.44% of the company's stock.

Insider Transactions at Oracle

In other news, EVP Maria Smith sold 6,320 shares of the 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 completion of the transaction, the executive vice president now owns 42,889 shares of the company's stock, valued at approximately $7,076,685. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the firm's stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the completion of the transaction, the chairman now owns 1,145,732,353 shares of the company's stock, valued at $164,630,281,802.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Maria Smith sold 6,320 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the transaction, the executive vice president now directly owns 42,889 shares of the company's stock, valued at $7,076,685. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,146,320 shares of company stock valued at $164,762,400. 42.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Cowen upped their price target on Oracle from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. BMO Capital Markets increased their target price on Oracle from $160.00 to $173.00 and gave the company a "market perform" 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. Evercore ISI increased their target price on Oracle from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group increased their target price on Oracle from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $167.42.

Oracle Stock Performance

NYSE ORCL traded up $0.34 during trading hours on Friday, hitting $175.75. The company had a trading volume of 5,865,053 shares, compared to its average volume of 8,534,808. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week 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. The business has a fifty day simple moving average of $150.79 and a 200-day simple moving average of $136.43. The firm has a market cap of $487.01 billion, a P/E ratio of 45.30, a price-to-earnings-growth ratio of 3.29 and a beta of 1.01.

Oracle (NYSE:ORCL - Get Free Report) last issued its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The firm had revenue of $13.31 billion for the quarter, compared to analyst estimates of $13.23 billion. During the same period last year, the company earned $0.95 earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts predict that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be paid a $0.40 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. Oracle's payout ratio is 41.24%.

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.