Atlatl Advisers LLC significantly increased its holdings in Oracle Corporation (NYSE: ORCL) by an impressive 292.5% during the second quarter of 2023. According to the firm’s latest disclosure with the Securities and Exchange Commission (SEC), Atlatl now owns 9,758 shares of the enterprise software giant after acquiring an additional 7,272 shares in the quarter. As of this filing, Oracle constitutes 1.0% of Atlatl’s investment portfolio, ranking as its 22nd largest holding, with a total value of approximately $2.13 million.
Several other institutional investors have also adjusted their positions in Oracle recently. Redmont Wealth Advisors LLC entered a new position valued at around $27,000 in the first quarter. Meanwhile, Iron Horse Wealth Management LLC raised its stake by 284.9%, owning 204 shares worth $29,000 after purchasing an additional 151 shares. Other notable investors include LGT Financial Advisors LLC and Legend Financial Advisors Inc., who acquired positions valued at approximately $33,000 and $34,000, respectively. HighMark Wealth Management LLC also entered the market with a new position worth about $38,000. Collectively, institutional investors and hedge funds hold 42.44% of Oracle’s stock.
Analysts’ Ratings and Price Targets
Brokerage firms have been actively assessing Oracle’s stock, leading to several upgrades. Melius Research raised its target price from $270.00 to $370.00 with a “buy” rating on September 10, 2023. Berenberg Bank increased its target from $202.00 to $306.00, providing a “hold” rating. Jefferies Financial Group also revised its target from $360.00 to $400.00, maintaining a “buy” rating as of October 17, 2023. Additionally, DA Davidson raised its target from $220.00 to $300.00, rating the stock as “neutral.”
Overall, three analysts have given Oracle a Strong Buy rating, while twenty-six have assigned a Buy rating. Ten analysts issued a Hold rating, and two provided a Sell rating. According to data from MarketBeat.com, the consensus rating for Oracle is “Moderate Buy,” with an average price target of $323.69.
Oracle’s Stock Performance and Financial Results
On Friday, Oracle shares opened at $283.45, representing a 1.2% increase. The stock has seen a fifty-day simple moving average of $274.59 and a 200-day average of $221.04. Over the past year, Oracle has experienced highs and lows, with a 12-month low of $118.86 and a high of $345.72. The company boasts a market capitalization of $808.05 billion, a price-to-earnings (P/E) ratio of 65.61, and a price-to-earnings-growth (PEG) ratio of 3.04.
Oracle last reported its quarterly earnings on September 9, 2023, revealing earnings per share (EPS) of $1.47, slightly missing the consensus estimate of $1.48. The company generated revenue of $14.93 billion, falling short of the expected $15.04 billion. Despite this, Oracle’s quarterly revenue increased by 12.2% compared to the same quarter last year. For Q2 2026, the company has projected EPS guidance between $1.270 and $1.310, with analysts anticipating an average of $5 EPS for the current fiscal year.
In addition to its earnings announcement, Oracle declared a quarterly dividend of $0.50 per share, paid on October 23, 2023, to shareholders on record as of October 9, 2023. This equates to an annualized dividend of $2.00 and a yield of 0.7%. The ex-dividend date was also October 9, 2023, reflecting a dividend payout ratio of 46.30%.
Insider Transactions at Oracle
Recent insider trading activities have also caught attention. Executive Vice President Maria Smith sold 5,000 shares on October 23, 2023, at an average price of $280.62, totaling $1,403,100. Following this transaction, she retained 47,083 shares valued at approximately $13,212,431.46, representing a 9.60% decrease in her position. Similarly, insider Michael D. Sicilia sold 33,845 shares on September 23, 2023, at an average price of $321.16, amounting to $10,869,660.20. After this sale, he owns 132,656 shares valued at around $42,603,800.96, reflecting a 20.33% decrease in his stake. Over the past three months, insiders have offloaded 170,769 shares worth approximately $50,297,667.
As of now, insiders collectively hold 40.90% of Oracle’s stock. Oracle Corporation provides a wide array of products and services designed to meet enterprise information technology needs globally, including its various cloud software offerings.
