Hartline Investment Corp Boosts Oracle Holdings by 51 Shares

Hartline Investment Corp has increased its stake in Oracle Corporation (NYSE:ORCL) by 1.3%, according to a recent Form 13F filing with the U.S. Securities and Exchange Commission. The investment firm now holds a total of 3,845 shares of the enterprise software company, following the purchase of an additional 51 shares during the second quarter. As of the end of that quarter, Hartline’s holdings in Oracle were valued at approximately $841,000.

In addition to Hartline’s investment, several institutional investors have also adjusted their positions in Oracle. Notably, Nuveen LLC acquired a new stake in the company valued at $732.69 million in the first quarter. Vanguard Group Inc. has increased its holdings by 2.2%, now owning 160,925,413 shares worth about $22.5 billion. Kingstone Capital Partners Texas LLC and Mitsubishi UFJ Asset Management Co. Ltd. also expanded their investments, with Kingstone investing $731.51 million and Mitsubishi UFJ boosting its stake by 79.2%.

As of the most recent reports, institutional investors collectively own 42.44% of Oracle’s stock, reflecting strong interest in the company.

Oracle Stock Performance and Dividends

On October 20, 2023, Oracle’s stock opened at $291.95. The company’s financial metrics include a current ratio of 0.62, a quick ratio of 0.62, and a debt-to-equity ratio of 3.33. With a market capitalization of $832.28 billion, Oracle has a price-to-earnings (P/E) ratio of 67.58, a P/E/G ratio of 3.37, and a beta value of 1.53. Over the past year, Oracle’s stock has fluctuated between a low of $118.86 and a high of $345.72.

In another announcement, Oracle declared a quarterly dividend of $0.50 per share, scheduled for payment on October 23, 2023. Shareholders on record as of October 9 will receive this dividend. This payout corresponds to an annualized dividend of $2.00, yielding approximately 0.7%. Oracle’s dividend payout ratio stands at 46.30%.

Insider Transactions and Analyst Ratings

Recent insider activities indicate significant trading within Oracle. Clayton M. Magouyrk, an insider, sold 21,241 shares on September 12, 2023, at an average price of $297.11, totaling about $6.31 million. Following this transaction, he retains 78,000 shares valued at approximately $23.17 million. Similarly, Director William G. Parrett sold 11,500 shares on the same date at an average price of $306.00, amounting to about $3.52 million. After this sale, Parrett owns 17,764 shares worth around $5.44 million. Over the past ninety days, insiders have sold a total of 120,769 shares valued at approximately $36.43 million.

Analysts have taken a keen interest in Oracle’s stock performance, with several recent reports reflecting positive sentiments. Jefferies Financial Group raised its target price from $360.00 to $400.00, maintaining a “buy” rating. Bank of America upgraded Oracle from a “neutral” to a “buy” rating, increasing its target price from $295.00 to $368.00. Additionally, Cantor Fitzgerald and Evercore ISI both raised their price targets significantly, with Cantor Fitzgerald setting a new target of $400.00 and Evercore ISI adjusting its target to $385.00.

Currently, the consensus rating for Oracle stock is classified as “Moderate Buy,” with three analysts recommending a Strong Buy, twenty-seven a Buy, nine a Hold, and two a Sell, according to MarketBeat.com. The average target price stands at $323.40.

Oracle Corporation continues to be a major player in the enterprise technology space, offering a broad range of software as a service solutions, including cloud applications for resource planning, performance management, and human capital management, among others.

For the latest updates on Oracle and its market performance, stay tuned to financial news platforms and analyst reports.