Shum Financial Group Inc. Purchases Shares of 5,691 Oracle Co. (NYSE:ORCL)

Shum Financial Group Inc. purchased a new stake in shares of Oracle Co. (NYSE:ORCL) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,691 shares of the enterprise software provider’s stock, valued at approximately $978,000.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Oracle by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock valued at $411,748,000 after purchasing an additional 121,874 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in Oracle by 15.3% in the second quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock worth $3,502,000 after purchasing an additional 3,300 shares during the last quarter. Chase Investment Counsel Corp bought a new position in Oracle in the 3rd quarter valued at $4,160,000. Oppenheimer Asset Management Inc. increased its position in shares of Oracle by 79.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock valued at $48,813,000 after purchasing an additional 126,985 shares during the last quarter. Finally, Buckley Wealth Management LLC raised its stake in shares of Oracle by 63.8% during the 3rd quarter. Buckley Wealth Management LLC now owns 7,370 shares of the enterprise software provider’s stock worth $1,256,000 after purchasing an additional 2,870 shares during the period. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Price Performance

Shares of NYSE ORCL traded up $2.19 during midday trading on Tuesday, hitting $190.18. 1,158,891 shares of the company’s stock were exchanged, compared to its average volume of 8,236,646. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $196.04. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The company has a market cap of $527.00 billion, a price-to-earnings ratio of 48.48, a PEG ratio of 3.54 and a beta of 1.02. The business’s fifty day moving average price is $175.98 and its two-hundred day moving average price is $150.14.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. Oracle’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. As a group, research analysts forecast that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s dividend payout ratio is currently 41.24%.

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 42.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ORCL. Guggenheim lifted their target price on Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Melius Research upgraded Oracle from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. JMP Securities lifted their target price on Oracle from $175.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, Jefferies Financial Group lifted their target price on Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $169.52.

Oracle Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.