Grove Bank & Trust Increases Stake in Oracle Co. (NYSE:ORCL)

Grove Bank & Trust lifted its position in Oracle Co. (NYSE:ORCL - Free Report) by 232.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,991 shares of the enterprise software provider's stock after purchasing an additional 14,682 shares during the period. Grove Bank & Trust's holdings in Oracle were worth $3,577,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Fiduciary Alliance LLC bought a new stake in Oracle during the 3rd quarter valued at $2,691,000. Granite Harbor Advisors Inc. raised its stake in Oracle by 18.4% in the third quarter. Granite Harbor Advisors Inc. now owns 1,709 shares of the enterprise software provider's stock valued at $291,000 after buying an additional 265 shares during the last quarter. Stablepoint Partners LLC raised its position in shares of Oracle by 1.0% in the 3rd quarter. Stablepoint Partners LLC now owns 13,427 shares of the enterprise software provider's stock valued at $2,288,000 after purchasing an additional 138 shares during the last quarter. Sapient Capital LLC lifted its stake in shares of Oracle by 43.1% during the third quarter. Sapient Capital LLC now owns 18,394 shares of the enterprise software provider's stock worth $3,134,000 after buying an additional 5,542 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in shares of Oracle in the 3rd quarter valued at $523,000. Institutional investors own 42.44% of the company's stock.

Oracle Price Performance

Oracle stock traded up $0.50 during midday trading on Monday, reaching $176.27. The company had a trading volume of 4,687,560 shares, compared to its average volume of 8,515,395. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $178.61. The firm's fifty day simple moving average is $152.60 and its 200-day simple moving average is $137.28. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $485.78 billion, a P/E ratio of 47.51, a P/E/G ratio of 3.29 and a beta of 1.01.

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

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. Oracle's dividend payout ratio is presently 43.13%.

Insider Activity

In other news, Director Leon E. Panetta sold 15,000 shares of the firm'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 sale, the director now owns 58,090 shares in the company, valued at $8,010,030.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Leon E. Panetta sold 15,000 shares of the firm's stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the sale, the director now directly owns 58,090 shares of the company's stock, valued at approximately $8,010,030.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Maria Smith sold 6,320 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 42.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ORCL. Barclays boosted their price target on Oracle from $160.00 to $172.00 and gave the company an "overweight" rating in a research note on Tuesday, September 10th. UBS Group increased their price target on shares of Oracle from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Mizuho lifted their price objective on shares of Oracle from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Citigroup increased their price objective on shares of Oracle from $140.00 to $157.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 11th. Finally, Piper Sandler raised their target price on shares of Oracle from $150.00 to $175.00 and gave the stock an "overweight" rating in a report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Oracle presently has a consensus rating of "Moderate Buy" and an average target price of $167.42.

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.