Virtus Advisers LLC has made a strategic investment by purchasing a new stake in Oracle Corporation during the second quarter of 2023. The acquisition, reported by Holdings Channel, involved the purchase of 1,039 shares valued at approximately $227,000. This move highlights growing institutional interest in the enterprise software provider.
In addition to Virtus Advisers, several other institutional investors have recently engaged in trading Oracle shares. Notably, Norges Bank acquired a stake worth about $4.28 billion during the same quarter. Nuveen LLC also established a new position valued at approximately $732.7 million in the first quarter of 2023. Meanwhile, Vanguard Group Inc. increased its holdings by 2.2%, owning over 160.9 million shares worth around $22.5 billion after acquiring an additional 3.5 million shares in the same period.
Another significant move came from Kingstone Capital Partners Texas LLC, which purchased a new stake in Oracle valued at about $731.5 million. In a noteworthy increase, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake by 79.2% in the first quarter, now owning nearly 4.6 million shares, valued at approximately $648.6 million. Currently, institutional investors hold 42.44% of Oracle’s stock.
Recent Insider Transactions
In related news, insider trading activity at Oracle has been notable. On October 28, 2023, Director Jeffrey Berg sold 49,365 shares at an average price of $283.02, amounting to a total transaction value of approximately $13.97 million. Following this sale, Berg retains 151,999 shares valued at around $43 million, reflecting a 24.52% reduction in his ownership.
Additionally, Director Naomi O. Seligman sold 2,222 shares on September 26, 2023 at an average price of $288.91, generating a total value of about $642,000. After this transaction, Seligman holds 29,225 shares, valued at approximately $8.44 million, marking a 7.07% decrease in her ownership.
Over the past ninety days, insiders have sold a total of 204,254 shares valued at approximately $60.23 million. Currently, insiders own 40.90% of the company’s stock.
Oracle’s Stock Performance and Financial Outlook
As of Monday, October 30, 2023, Oracle shares opened at $201.57, reflecting a decline of 1.7%. The stock’s fifty-day moving average is $262.79, while the two-hundred-day moving average stands at $238.38. Over the past year, Oracle has experienced a low of $118.86 and a high of $345.72. The company currently boasts a market capitalization of $574.62 billion, a price-to-earnings ratio of 46.66, and a price-to-earnings-growth ratio of 2.96.
On September 9, 2023, Oracle reported its quarterly earnings, revealing earnings per share (EPS) of $1.47, slightly missing analysts’ expectations of $1.48. The company recorded a net margin of 21.08% and a robust return on equity of 72.93%. Revenue for the quarter reached $14.93 billion, which fell short of the projected $15.04 billion, yet marked a 12.2% increase compared to the same quarter last year. Oracle has provided guidance for Q2 2026, estimating an EPS range of $1.270 to $1.310.
In terms of shareholder returns, Oracle declared a quarterly dividend of $0.50, which was paid on October 23, 2023. Shareholders on record as of October 9, 2023 received this dividend, representing an annualized dividend of $2.00 and a dividend yield of 1.0%. The dividend payout ratio currently sits at 46.30%.
Oracle Corporation continues to be a pivotal player in the enterprise technology sector, providing a wide range of products and services tailored to enhance information technology environments across the globe. Its offerings include various cloud applications such as Oracle Fusion cloud ERP, supply chain management, and human capital management, among others.
