The Vanguard Group, Inc. recently announced the acquisition of new stake in Oracle Corporation (NYSE:ORCL). The institutional investor has increased its shareholding in the Technology company by 1.11% to 133.02 million shares with purchase of 1.46 million shares. This fresh investment now brings its stake to 4.90% valued currently at $16.01 billion. In addition, BlackRock Fund Advisors raised its holdings by 2.88 million to 81.07 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.48% or 0.93 million shares – to 63.51 million shares.
With over 23.2 million Oracle Corporation (ORCL) shares trading Friday and a closing price of $113.91 on the day, the dollar volume was approximately $2.64 billion. The shares have shown a positive half year performance of 34.30% and its price on 09/15/23 gained nearly 0.22%. Currently, there are 2.73B common shares owned by the public and among those 1.59B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 33 analysts who have offered their price forecasts for ORCL have a consensus price objective of $131.45. The analysts have set the share’s price value over the next 12 months at a high of $150.00 and a low of $100.00. The average price target is 10.48% above its recent price level and a downside to the estimated low will see the stock lose -13.91% over that period. But an upside of 24.06% will see the stock hit the forecast high price target while median target price for the stock is $134.00.
Insiders at the company have transacted a total of 85 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 38 of these insider trades were purchases, accounting for 13,789,094 shares. Insider sales of the common stock occurred on 47 occasions, with total insider shares sold totaling 13,696,649 shares.
The top 3 mutual fund holders in Oracle Corporation are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Fidelity 500 Index Fund. Vanguard Total Stock Market ETF owns 46.26 million shares of the company’s stock, all valued at over $5.57 billion. The company bought an additional 20485.0 shares recently to bring their total holdings to about 1.70% of the shares outstanding. Vanguard 500 Index Fund bought 0.21 million shares to see its total holdings expand to 37.06 million shares valued at over $4.46 billion and representing 1.37% of the shares outstanding. Fidelity 500 Index Fund bought 0.11 million shares to bring its total holdings to over 17.49 million shares at a value of $2.11 billion. Fidelity 500 Index Fund now owns shares totaling to 0.64% of the shares outstanding.
Shares of Oracle Corporation (NYSE: ORCL) opened at $114.19, up $0.53 from a prior closing price of $113.66. However, the script later moved the day high at 115.20, up 0.22%. The company’s stock has a 5-day price change of -9.82% and -9.99% over the past three months. ORCL shares are trading 39.36% year to date (YTD), with the 12-month market performance up to 57.95% higher. It has a 12-month low price of $60.78 and touched a high of $127.54 over the same period. ORCL has an average intraday trading volume of 10.69 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.98%, -2.79%, and 14.59% respectively.
Institutional ownership of Oracle Corporation (NYSE: ORCL) shares accounts for 42.70% of the company’s 2.73B shares outstanding. Mutual fund holders own 23.56%, while other institutional holders and individual stakeholders account for 42.62% and 20.74% respectively.
It has a market capitalization of $311.41B and a beta (3y monthly) value of 1.00. The stock’s trailing 12-month PE ratio is 33.87, while the earnings-per-share (ttm) stands at $3.36. The company has a PEG of 3.12 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 37.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.48% over the week and 2.84% over the month.
Analysts forecast that Oracle Corporation (ORCL) will achieve an EPS of $1.32 for the current quarter, $1.36 for the next quarter and $6.23 for 2025. The lowest estimate earnings-per-share for the quarter is $1.31 while analysts give the company a high EPS estimate of $1.37. Comparatively, EPS for the current quarter was $1.21 a year ago. Earnings per share for the fiscal year are expected to increase by 27.50%, and 12.36% over the next financial year. EPS should grow at an annualized rate of 10.85% over the next five years, compared to 4.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 33 brokerage firm advisors rate Oracle Corporation (ORCL) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 17 of the 33 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the ORCL, a number of firms have released research notes about the stock. HSBC Securities stated their Buy rating for the stock in a research note on September 15, 2023, with the firm’s price target at $144.
