Ibex Wealth Advisors has taken a significant step by acquiring a new stake in Oracle Corporation (NYSE: ORCL) during the second quarter of 2023. This investment involved the purchase of 2,097 shares, valued at approximately $458,000, according to HoldingsChannel.com. The move reflects a growing interest among institutional investors in the enterprise software giant.
Several other large investors have also recently adjusted their positions in Oracle. Vise Technologies Inc. acquired a stake worth $10,067,000, while Alpha Cubed Investments LLC increased its holdings by 142.8%, now owning 111,539 shares valued at $24,386,000. Allworth Financial LP also boosted its stake by 50.6%, resulting in a total ownership of 317,324 shares valued at $69,376,000 after purchasing an additional 106,615 shares in the last quarter.
Addison Advisors LLC and Cypress Capital LLC made smaller acquisitions, lifting their stakes to 6,852 shares worth $1,498,000 and acquiring a new position valued at approximately $279,000, respectively. Collectively, institutional investors and hedge funds now own 42.44% of Oracle’s stock.
Oracle’s Stock Performance and Financial Metrics
As of Tuesday, Oracle’s stock opened at $241.02. The company boasts a market capitalization of $687.10 billion and has maintained a price-to-earnings ratio of 55.79. Oracle’s financial health is reflected in its current and quick ratios, both standing at 0.62, while its debt-to-equity ratio is notably high at 3.33. The stock has shown volatility, with a one-year low of $118.86 and a high of $345.72.
In addition to its stock performance, Oracle announced a quarterly dividend of $0.50 per share, which was paid out on October 23, 2023. Shareholders of record on October 9, 2023 received this dividend, amounting to an annualized yield of 0.8%. The company’s dividend payout ratio currently sits at 46.30%.
Insider Transactions and Analyst Ratings
Recent insider transactions reveal that Director William G. Parrett sold 11,500 shares of Oracle on September 12, 2023, for a total of $3,519,000. Following this transaction, he retained 17,764 shares valued at $5,435,784. Additionally, CEO Clayton M. Magouyrk sold 40,000 shares on October 21, 2023, resulting in proceeds of $11,065,600. After this sale, he now owns 154,030 shares valued at $42,610,859.20.
Over the last quarter, insiders have collectively sold 204,254 shares worth $60,227,807. Currently, corporate insiders own 40.90% of Oracle’s stock.
Analyst ratings for Oracle are robust, with three analysts rating it as a Strong Buy, twenty-seven as a Buy, ten as a Hold, and two issuing Sell ratings. According to MarketBeat, Oracle has a consensus rating of “Moderate Buy” with a target price of $323.69. Recent reports from research firms reflect a positive outlook, with Weiss Ratings upgrading Oracle from a “hold (C+)” to a “buy (B-)” rating. JMP Securities has set a price target of $342.00, while Citigroup reiterated its “buy” rating.
As Oracle continues to expand its footprint in the enterprise software market, these developments highlight the increasing confidence that investors have in the company’s long-term potential.
