Ibex Wealth Advisors has established a new position in Oracle Corporation, purchasing 2,097 shares valued at approximately $458,000 during the second quarter of 2023. This investment reflects a growing interest in the enterprise software provider, which has seen several large investors also increase their stakes in recent months.
In addition to Ibex, Vise Technologies Inc. made a significant investment, acquiring a stake worth $10,067,000. Alpha Cubed Investments LLC expanded its holdings by 142.8%, bringing its total ownership to 111,539 shares, which are now valued at $24,386,000. Allworth Financial LP also increased its stake by 50.6% to own 317,324 shares worth $69,376,000. Addison Advisors LLC raised its position by 22.6%, while Cypress Capital LLC entered the market with a new position valued at about $279,000. Institutional investors and hedge funds collectively own 42.44% of Oracle’s stock.
Oracle’s Recent Performance and Financial Metrics
On Tuesday, the stock opened at $241.02. Oracle has a market capitalization of $687.10 billion and a price-to-earnings ratio of 55.79. The company has a debt-to-equity ratio of 3.33 and reports a current ratio and quick ratio, both at 0.62. Its stock has seen fluctuations, with a one-year low of $118.86 and a high of $345.72. The company’s 50-day moving average stands at $279.62, while the 200-day moving average is $232.02.
Recently, Oracle announced a quarterly dividend of $0.50 per share, paid on October 23, 2023. Shareholders of record as of October 9, 2023 received this dividend, which translates to an annualized yield of 0.8% and a payout ratio of 46.30%.
Insider Transactions and Analyst Ratings
In related developments, Director William G. Parrett sold 11,500 shares on September 12, 2023, for a total of $3,519,000, reducing his holdings by 39.30%. Following this transaction, he retained 17,764 shares valued at $5,435,784. Additionally, CEO Clayton M. Magouyrk sold 40,000 shares on October 21, 2023, for $11,065,600, reflecting a 20.62% decrease in his ownership.
Over the past quarter, insiders have sold 204,254 shares worth $60,227,807. Currently, corporate insiders own 40.90% of Oracle’s stock.
Analysts have recently adjusted their ratings for Oracle. Weiss Ratings upgraded the stock from a “hold” to a “buy” rating. JMP Securities maintained a “market outperform” rating and set a price target of $342.00. Citigroup reiterated a “buy” rating, while Rothschild & Co Redburn started coverage with a “sell” rating and a target price of $175.00. Scotiabank increased its target price from $350.00 to $360.00, maintaining an “outperform” rating. Currently, Oracle holds a consensus rating of “Moderate Buy” with a target price averaging $323.69.
Oracle Corporation continues to play a pivotal role in the global enterprise information technology landscape, offering a wide array of products and services, including cloud applications for enterprise resource planning, performance management, supply chain management, and human capital management. As the company evolves, its financial maneuvers and market responses remain under close observation by investors and analysts alike.
