Congress Asset Management Co. MA recently filed with the SEC, reporting a 14.2% increase in its holdings of Oracle Co. (NYSE: ORCL). The firm now owns 107,487 shares of the enterprise software provider, valued at $13,501,000. Other institutional investors, including Gulf International Bank UK Ltd, Optimum Investment Advisors, RFG Advisory LLC, BTC Capital Management Inc., and Daymark Wealth Partners LLC, have also increased their stakes in Oracle in the first quarter of the year. In total, institutional investors hold 42.44% of the shares.
Wall Street analysts have forecasted growth for Oracle, with several raising their target prices and ratings for the stock. JPMorgan Chase & Co. upgraded the stock to a “neutral” rating, while Bank of America, William Blair, Piper Sandler, and Evercore ISI all increased their price targets and ratings for Oracle. Overall, the stock has received a “Moderate Buy” rating, with a consensus price target of $144.79.
Oracle’s stock performance has been strong, with shares opening at $141.50 and a 12-month high of $145.32. The company’s financials for the first quarter showed earnings of $1.63 per share, slightly below analysts’ expectations. Revenue for the quarter was $14.29 billion, with a return on equity of 223.01% and a net margin of 19.76%.
Additionally, Oracle recently announced a quarterly dividend of $0.40 per share, with a dividend yield of 1.13%. In internal activity, Director George H. Conradas sold shares of the company’s stock in several transactions, totaling $110,488,150. Insiders now own 42.80% of the company’s shares.
Oracle Corporation offers various cloud software applications, including Oracle Fusion Cloud ERP, Oracle Fusion Cloud HCM, Oracle Cerner healthcare, and NetSuite. The company’s products and services cater to enterprise IT environments globally.
This report highlights the recent developments and performance indicators of Oracle Co., emphasizing its growth potential and investor activity. The company’s financials, ratings, and internal activities provide insights into its current status in the market.
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https://www.marketbeat.com/instant-alerts/nyse-orcl-sec-filing-2024-06-23/
