Synovus Financial Corp Increases Stock Position in Oracle Co. (NYSE:ORCL)

Synovus Financial Corp raised its position in Oracle Co. (NYSE:ORCL - Free Report) by 12.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 174,645 shares of the enterprise software provider's stock after buying an additional 19,848 shares during the quarter. Synovus Financial Corp's holdings in Oracle were worth $29,760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Oracle by 16,023.4% in the third quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider's stock valued at $351,890,000 after acquiring an additional 2,052,275 shares during the last quarter. State Street Corp grew its holdings in shares of Oracle by 2.7% during the 3rd quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider's stock valued at $12,003,241,000 after purchasing an additional 1,847,561 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in shares of Oracle by 5,853.1% during the 2nd quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider's stock valued at $219,224,000 after purchasing an additional 1,526,500 shares during the last quarter. Geode Capital Management LLC lifted its stake in Oracle by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 35,194,683 shares of the enterprise software provider's stock valued at $5,977,015,000 after purchasing an additional 885,041 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Oracle by 2,899.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 913,700 shares of the enterprise software provider's stock valued at $155,694,000 after buying an additional 883,233 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Piper Sandler increased their price target on Oracle from $185.00 to $210.00 and gave the company an "overweight" rating in a research note on Tuesday. Sanford C. Bernstein lifted their price target on Oracle from $201.00 to $202.00 and gave the company an "outperform" rating in a research note on Monday, September 30th. StockNews.com cut Oracle from a "buy" rating to a "hold" rating in a report on Tuesday. Melius upgraded shares of Oracle from a "hold" rating to a "buy" rating and set a $210.00 price objective for the company in a report on Monday, September 16th. Finally, BNP Paribas raised shares of Oracle to a "strong-buy" rating in a report on Tuesday. Twelve investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.63.

Oracle Stock Down 1.4 %

NYSE:ORCL traded down $2.51 during trading hours on Friday, reaching $172.81. The company had a trading volume of 5,817,410 shares, compared to its average volume of 8,389,605. Oracle Co. has a twelve month low of $99.36 and a twelve month high of $198.31. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The firm has a market cap of $483.34 billion, a price-to-earnings ratio of 42.16, a P/E/G ratio of 3.32 and a beta of 1.03. The business's 50-day simple moving average is $180.36 and its two-hundred day simple moving average is $155.36.

Oracle (NYSE:ORCL - Get Free Report) last issued its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.01). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $14.12 billion. During the same quarter in the prior year, the business earned $1.34 earnings per share. The business's quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts expect that Oracle Co. will post 5.17 earnings per share for the current year.

Oracle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, January 9th. Oracle's payout ratio is 39.12%.

Insider Buying and Selling

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of 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 12.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 42.20% of the stock is owned by company insiders.

Oracle Company 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.