Miracle Mile Advisors LLC Has $989,000 Position in Oracle Co. (NYSE:ORCL)

Posted by on Mar 31st, 2023

Miracle Mile Advisors LLC grew its position in shares of Oracle Co. (NYSE:ORCL – Get Rating) by 23.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,094 shares of the enterprise software provider’s stock after acquiring an additional 2,295 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Oracle were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Trifecta Capital Advisors LLC purchased a new position in Oracle during the 4th quarter worth $30,000. Pacifica Partners Inc. raised its stake in Oracle by 108.9% in the 3rd quarter. Pacifica Partners Inc. now owns 401 shares of the enterprise software provider’s stock valued at $29,000 after acquiring an additional 209 shares during the period. McClarren Financial Advisors Inc. bought a new stake in shares of Oracle during the third quarter valued at about $28,000. FSC Wealth Advisors LLC bought a new stake in shares of Oracle during the third quarter valued at about $29,000. Finally, Cowa LLC bought a new stake in shares of Oracle during the third quarter valued at about $30,000. 40.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ORCL. JPMorgan Chase & Co. set a $93.00 price objective on Oracle and gave the stock an “overweight” rating in a report on Friday, March 10th. StockNews.com downgraded Oracle from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America upped their target price on Oracle from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, December 13th. KeyCorp upped their target price on Oracle from $94.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. Finally, DA Davidson started coverage on Oracle in a report on Tuesday, January 17th. They set a “neutral” rating and a $85.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $95.18.

Insider Buying and Selling

In other Oracle news, Director Rona Alison Fairhead sold 8,080 shares of the business’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $89.82, for a total transaction of $725,745.60. Following the completion of the sale, the director now directly owns 11,197 shares in the company, valued at approximately $1,005,714.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 43.70% of the stock is owned by corporate insiders.

Oracle Price Performance

Shares of NYSE:ORCL opened at $90.51 on Friday. Oracle Co. has a 1-year low of $60.78 and a 1-year high of $91.22. The business has a fifty day moving average price of $87.84 and a 200-day moving average price of $80.30. The company has a market capitalization of $244.36 billion, a PE ratio of 29.87, a PEG ratio of 2.80 and a beta of 1.02.

Oracle (NYSE:ORCL – Get Rating) last released its quarterly earnings data on Thursday, March 9th. The enterprise software provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.20 by $0.02. Oracle had a negative return on equity of 262.40% and a net margin of 17.46%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $12.42 billion. During the same period last year, the company earned $0.94 EPS. Oracle’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, sell-side analysts anticipate that Oracle Co. will post 4.01 earnings per share for the current fiscal year.

Oracle Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 24th. Investors of record on Tuesday, April 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.77%. This is an increase from Oracle’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, April 10th. Oracle’s dividend payout ratio (DPR) is presently 42.24%.

Oracle Company Profile

(Get Rating)

Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.

Featured Stories

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.