Mcdaniel Terry & Co. has made a significant investment in Oracle Corporation by acquiring 1,156 shares of the enterprise software giant during the second quarter of 2023. This newly purchased stake, valued at approximately $253,000, was disclosed in a recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also adjusted their holdings in Oracle. Notably, Vanguard Group Inc. increased its stake by 2.2% in the first quarter, now owning 160,925,413 shares valued at $22.5 billion. Northern Trust Corp raised its position by 0.6%, acquiring a total of 19,741,423 shares worth approximately $2.76 billion. Additionally, UBS Asset Management and Amundi have also increased their stakes, reflecting growing institutional confidence in the company.
As of now, institutional investors collectively own 42.44% of Oracle’s stock.
Oracle’s Market Performance and Dividend Announcement
On October 20, 2023, Oracle Corporation’s stock opened at $283.45. The company has seen a twelve-month low of $118.86 and a high of $345.72, with a market capitalization of $808.05 billion. The firm’s price-to-earnings (P/E) ratio stands at 65.61, while its beta is 1.53, indicating above-average volatility.
In addition to growth in institutional holdings, Oracle has declared a quarterly dividend of $0.50 per share, which was paid on October 23, 2023. This dividend yields 0.7%, and marks an annualized payout of $2.00. The ex-dividend date was set for October 9, 2023, and Oracle’s payout ratio currently stands at 46.30%.
Analyst Ratings and Insider Activity
Oracle has been the subject of various analyst reports, with a mix of ratings reflecting differing market outlooks. DA Davidson recently raised its target price for Oracle from $220.00 to $300.00, maintaining a “neutral” rating. Conversely, TD Cowen increased its price objective from $325.00 to $375.00, giving Oracle a “buy” rating. Overall, three analysts rate the stock as a strong buy, while twenty-seven have issued a buy rating, suggesting a generally positive sentiment regarding the company’s future.
In related insider activity, Stuart Levey, an executive vice president of Oracle, sold 19,758 shares on October 10, 2023, for a total of $5.93 million. Another insider, Michael D. Sicilia, sold 33,845 shares on September 23, 2023, valued at approximately $10.87 million. These sales indicate a notable decrease in insider ownership, reflecting a broader trend where insiders have sold 170,769 shares worth $50.3 million in the past 90 days.
Oracle Corporation continues to play a significant role in the global enterprise technology landscape, and its recent developments indicate a robust position among institutional investors and analysts alike.
