Virtus Advisers LLC has acquired a new stake in Oracle Corporation (NYSE: ORCL), as reported by Holdings Channel. During the second quarter of 2023, the firm purchased 1,039 shares of the enterprise software provider, with a total value of approximately $227,000. This transaction is part of a broader trend, where various institutional investors have recently adjusted their positions in Oracle.
In the same quarter, Norges Bank made a significant investment, acquiring a new stake worth about $4.3 billion. Additionally, Nuveen LLC entered the market in the first quarter with a position valued at approximately $732.7 million. Vanguard Group Inc. has increased its holdings by 2.2% in the first quarter, bringing its total ownership to 160,925,413 shares, valued at around $22.5 billion after purchasing an additional 3,513,464 shares.
Other notable transactions include Kingstone Capital Partners Texas LLC, which acquired shares in the second quarter worth about $731.5 million, and Mitsubishi UFJ Asset Management Co. Ltd., which raised its stake by an impressive 79.2% during the first quarter, now owning 4,638,951 shares valued at approximately $648.6 million. Collectively, institutional investors now hold about 42.4% of Oracle’s stock.
Insider Trading Activities
Recent insider trading at Oracle has also drawn attention. On October 28, 2023, Director Jeffrey Berg sold 49,365 shares at an average price of $283.02, resulting in a total transaction value of approximately $13.97 million. Following this sale, Berg holds 151,999 shares, valued at about $43 million, representing a 24.5% decrease in his ownership.
Another director, Naomi O. Seligman, sold 2,222 shares on September 26, 2023, at an average price of $288.91, resulting in a total value of $641,958. This transaction decreased her ownership by 7.1%, leaving her with 29,225 shares valued at approximately $8.44 million. In total, insiders sold 204,254 shares worth around $60.2 million in the past ninety days, while insider ownership stands at approximately 40.9%.
Oracle’s Stock Performance and Financial Outlook
As of Monday, shares of Oracle traded at $201.57, reflecting a decline of 1.7%. The stock’s fifty-day moving average price is $262.79, while the 200-day moving average price is $238.38. Over the past year, Oracle’s stock has seen a low of $118.86 and a high of $345.72. The company’s current market capitalization stands at $574.62 billion, with a price-to-earnings ratio of 46.66 and a price-to-earnings-growth ratio of 2.96.
Oracle’s financial performance has been mixed. In its latest quarterly earnings report released on September 9, 2023, the company reported earnings per share (EPS) of $1.47, slightly below the analysts’ expectations of $1.48. Revenue for the quarter reached $14.93 billion, falling short of the projected $15.04 billion. Nonetheless, revenue increased by 12.2% compared to the same quarter last year.
Looking ahead, Oracle has provided guidance for Q2 2026, projecting EPS in the range of $1.270 to $1.310. Analysts estimate that Oracle will report earnings of approximately $5 per share for the current fiscal year.
Additionally, Oracle announced a quarterly dividend of $0.50 per share, which was paid on October 23, 2023. Shareholders of record on October 9, 2023 received this dividend, reflecting an annualized dividend of $2.00 and a yield of 1.0%. The company’s dividend payout ratio currently stands at 46.3%.
Oracle Corporation continues to be a key player in the enterprise software sector, offering a range of products and services spanning cloud applications and technology solutions.
