Investment firm First Dallas Securities Inc. disclosed a 15.0% increase in its stake in Oracle Co. during the first quarter, with 2,300 shares worth $289,000. Other hedge funds like Vanguard Group Inc., Capital World Investors, and Parnassus Investments LLC have also raised their holdings in Oracle. Institutional investors and hedge funds collectively own 42.44% of Oracle shares. Oracle’s stocks rose by 0.7%, opening at $141.20 on Friday. The company’s recent quarterly earnings of $1.63 per share slightly missed estimates, with revenue at $14.29 billion. Analysts predict a full-year earnings per share of $5.01 for Oracle. Oracle also announced a quarterly dividend of $0.40 per share, with an ex-dividend date of July 11.
In internal activity, Director George H. Conradas sold 25,000 shares of Oracle stock on May 1st and 20,000 shares on May 3rd. Insiders collectively sold 385,639 shares worth $53,002,729 in the last ninety days, owning 42.80% of the company’s shares. Analysts have varied ratings on Oracle, with Morgan Stanley giving an “equal weight” rating and a $125.00 price target. Overall, the stock has an average rating of “Moderate Buy” with a consensus price target of $145.83.
Oracle Corporation offers cloud software applications such as Oracle Fusion cloud ERP, Oracle Fusion cloud human capital management, and NetSuite. Customers can access the latest news and analyst ratings on Oracle through MarketBeat.com’s free daily email newsletter.
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