North Dallas Bank & Trust Co. has acquired a significant stake in Oracle Corporation, purchasing 8,016 shares valued at approximately $1,753,000. This acquisition was disclosed in the bank’s recent Form 13F filing with the Securities and Exchange Commission (SEC). The new shares represent about 1.3% of the bank’s portfolio, positioning Oracle as its 21st largest investment.
Several other institutional investors have also taken steps to adjust their holdings in Oracle during the second quarter. Notable purchases include Winnow Wealth LLC with a new position valued at around $28,000, and Kilter Group LLC, which invested approximately $30,000. Other firms, including LGT Financial Advisors LLC and Legend Financial Advisors Inc., made similar investments, with values ranging from $33,000 to $34,000. Overall, institutional investors now hold 42.44% of Oracle’s shares.
Oracle’s Market Performance and Dividend Announcement
On Friday, Oracle’s stock opened at $189.64. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.62, and a current ratio of 0.91. Over the past year, Oracle shares have seen a low of $118.86 and a high of $345.72. With a market capitalization of $540.62 billion, Oracle’s price-to-earnings ratio is reported at 35.65, while its price-to-earnings growth ratio stands at 2.14. The 50-day moving average price is $245.58, and the 200-day moving average price is $241.39.
In addition to the recent share acquisition, Oracle has announced a quarterly dividend of $0.50 per share, which is set to be paid on January 23, 2024. Investors on record as of January 9, 2024, will be eligible for this dividend, which translates to an annualized dividend of $2.00 and a dividend yield of 1.1%. The company’s current payout ratio is 37.59%.
Analysts and Insider Trading Activity
Recent evaluations by various research firms have led to altered price targets for Oracle’s shares. On September 25, Redburn Partners set a target price of $175.00, while BNP Paribas issued a price objective of $377.00 on September 10. Additionally, Piper Sandler adjusted its target price from $380.00 to $290.00 while maintaining an “overweight” rating. Scotiabank revised its target price from $360.00 to $260.00 and rated the stock as “sector outperform.” Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating with a price target of $375.00.
Currently, three analysts have rated Oracle with a “Strong Buy” rating, while twenty-six have issued a “Buy” rating. Twelve analysts recommend holding the stock, and two have rated it as a “Sell.” According to data from MarketBeat.com, Oracle holds a consensus rating of “Moderate Buy” and a consensus target price of $301.57.
In related news, insider trading activity has been notable. Maria Smith, Executive Vice President, sold 5,000 shares on October 23, realizing approximately $1,403,100.00 from the sale. Following this transaction, Smith’s ownership decreased by 9.60%, leaving her with 47,083 shares valued at $13,212,431.46. Similarly, Jeffrey Berg, a Director, sold 49,365 shares on October 28 for about $13,971,282.30, reducing his stake by 24.52% to 151,999 shares.
Over the last quarter, insiders have sold a total of 171,513 shares, valued at $50,397,893. Currently, insiders hold 40.90% of Oracle’s stock.
Oracle Corporation delivers an array of products and services that cater to enterprise information technology needs globally. Its offerings include various cloud software applications, such as Oracle Fusion cloud enterprise resource planning, human capital management, and healthcare solutions, among others.
For those interested in tracking Oracle’s institutional holdings or insider trades, additional information can be found through resources like HoldingsChannel.com and MarketBeat.com.
