Atlatl Advisers LLC has significantly increased its investment in Oracle Corporation, raising its holdings in the enterprise software provider by an impressive 292.5% during the second quarter of 2023. According to the firm’s recent disclosure to the Securities and Exchange Commission (SEC), Atlatl now owns 9,758 shares of Oracle, following the acquisition of an additional 7,272 shares during this period. As of the latest filing, Oracle represents 1.0% of Atlatl’s total investment portfolio, making it the firm’s 22nd largest holding, valued at approximately $2.13 million.
The growing interest in Oracle is not limited to Atlatl Advisers. Other institutional investors have also been active in adjusting their stakes in the company. For instance, Redmont Wealth Advisors LLC initiated a new position in Oracle valued at approximately $27,000 in the first quarter. Meanwhile, Iron Horse Wealth Management LLC increased its holdings by 284.9%, now owning 204 shares worth roughly $29,000 after adding 151 shares. Similarly, LGT Financial Advisors LLC and Legend Financial Advisors Inc. acquired new positions valued at approximately $33,000 and $34,000, respectively. A notable acquisition also came from HighMark Wealth Management LLC, which secured a new position worth around $38,000. Currently, institutional investors and hedge funds own 42.44% of Oracle’s stock.
Analyst Ratings and Stock Performance
Recent analyses from various brokerages reflect a positive outlook for Oracle. On September 10, 2023, Melius Research raised its target price for Oracle from $270.00 to $370.00, assigning a “buy” rating. Additionally, Berenberg Bank increased its target from $202.00 to $306.00, while Jefferies Financial Group boosted its target to $400.00 in a report dated October 17, 2023. Other notable adjustments include DA Davidson, which set a target price of $300.00, and Stifel Nicolaus, which also raised its target to $350.00.
Analysts have generally rated Oracle positively, with three giving a “Strong Buy” rating, 26 assigning a “Buy,” ten issuing a “Hold,” and two recommending a “Sell.” According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $323.69.
On the trading floor, Oracle’s shares opened at $283.45 on October 20, 2023. The company has experienced a 1.2% increase in stock value, with a fifty-day simple moving average at $274.59 and a 200-day simple moving average of $221.04. Oracle’s stock has fluctuated between a low of $118.86 and a high of $345.72 over the past year. The company boasts a market capitalization of $808.05 billion, a price-to-earnings (P/E) ratio of 65.61, and a beta of 1.53.
Recent Financial Results and Dividends
Oracle recently announced its quarterly earnings results on September 9, 2023, reporting earnings per share (EPS) of $1.47. This figure fell short of the consensus estimate of $1.48 by ($0.01). The company generated revenue of $14.93 billion, which was slightly below the expected $15.04 billion. Despite the slight miss in estimates, Oracle achieved a 12.2% increase in quarterly revenue compared to the same period last year, when it posted an EPS of $1.39. Oracle has set guidance for Q2 2026, projecting EPS between $1.270 and $1.310.
In addition to its financial performance, Oracle declared a quarterly dividend of $0.50, which was paid on October 23, 2023. Shareholders recorded on October 9 received this dividend, translating to an annualized payout of $2.00 and a yield of 0.7%. The ex-dividend date was also set for October 9, with Oracle having a dividend payout ratio of 46.30%.
Insider trading activity has also been notable, with Maria Smith, Executive Vice President, selling 5,000 shares on October 23, 2023, for a total of $1,403,100. Following this transaction, she retains 47,083 shares valued at approximately $13.21 million. Another insider, Michael D. Sicilia, sold 33,845 shares on September 23, 2023, for approximately $10.87 million. Over the last three months, insiders have offloaded 170,769 shares worth around $50.3 million, while company insiders collectively own 40.90% of Oracle’s stock.
Oracle Corporation continues to be a key player in the global information technology landscape, offering a wide range of products and services tailored to enterprise environments. Its offerings include cloud software applications such as Oracle Fusion cloud ERP and various solutions for sectors like healthcare and advertising. The firm remains an attractive investment for both institutional and individual investors alike, as evidenced by the recent surge in holdings and positive analyst sentiment.
