Corebridge Financial Inc. Raises Stake in Oracle Co. (NYSE:ORCL)

Corebridge Financial Inc. grew its stake in shares of Oracle Co. (NYSE:ORCL - Free Report) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 432,522 shares of the enterprise software provider's stock after buying an additional 10,711 shares during the quarter. Oracle accounts for approximately 0.4% of Corebridge Financial Inc.'s portfolio, making the stock its 26th largest holding. Corebridge Financial Inc.'s holdings in Oracle were worth $72,075,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ORCL. Second Line Capital LLC raised its stake in Oracle by 1.5% in the third quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider's stock worth $650,000 after buying an additional 58 shares in the last quarter. Cadence Bank increased its holdings in shares of Oracle by 0.8% in the 3rd quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider's stock valued at $1,296,000 after acquiring an additional 59 shares during the period. Requisite Capital Management LLC raised its position in shares of Oracle by 2.8% in the 4th quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider's stock worth $373,000 after acquiring an additional 60 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its stake in shares of Oracle by 4.4% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider's stock worth $237,000 after purchasing an additional 60 shares during the last quarter. Finally, McLean Asset Management Corp boosted its position in Oracle by 1.1% during the fourth quarter. McLean Asset Management Corp now owns 5,447 shares of the enterprise software provider's stock valued at $908,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have commented on ORCL. Morgan Stanley decreased their price target on shares of Oracle from $175.00 to $170.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 11th. JMP Securities reissued a "market outperform" rating and set a $205.00 target price on shares of Oracle in a research report on Wednesday, January 22nd. Royal Bank of Canada set a $145.00 target price on shares of Oracle and gave the company a "sector perform" rating in a research note on Tuesday, March 11th. Stephens started coverage on Oracle in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $167.00 price target on the stock. Finally, BMO Capital Markets lowered their price objective on Oracle from $205.00 to $175.00 and set a "market perform" rating for the company in a research report on Tuesday, March 11th. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Oracle presently has an average rating of "Moderate Buy" and a consensus price target of $179.20.

Oracle Stock Performance

ORCL stock traded down $1.92 during trading on Thursday, hitting $145.88. 9,144,162 shares of the company traded hands, compared to its average volume of 8,540,466. Oracle Co. has a 1 year low of $112.78 and a 1 year high of $198.31. The company has a market cap of $408.03 billion, a PE ratio of 35.67, a P/E/G ratio of 3.46 and a beta of 1.07. The stock's 50-day simple moving average is $164.35 and its 200 day simple moving average is $170.11. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81.

Oracle (NYSE:ORCL - Get Free Report) last posted its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.02). The firm had revenue of $14.13 billion for the quarter, compared to analysts' expectations of $14.40 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. Oracle's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.41 earnings per share. On average, equities analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Oracle's previous quarterly dividend of $0.40. Oracle's payout ratio is currently 46.95%.

Insider Buying and Selling

In related news, CEO Safra Catz sold 345,174 shares of Oracle stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $185.56, for a total value of $64,050,487.44. Following the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $207,565,931.52. The trade was a 23.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 42.20% of the stock is currently owned by insiders.

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.