Livforsakringsbolaget Skandia Omsesidigt Increases Oracle Shares Holdings

Livforsakringsbolaget Skandia Omsesidigt has boosted its stake in Oracle Corporation (NYSE: ORCL) by 33.2% during the third quarter, as per its latest filing with the SEC. After the increase, the firm now owns 151,188 shares of Oracle, following the acquisition of an additional 37,709 shares during this period. This development places Oracle as approximately 1.4% of Livforsakringsbolaget Skandia Omsesidigt's overall portfolio, marking the stock as its 11th largest holding.

At the close of the most recent quarter, Livforsakringsbolaget Skandia Omsesidigt's investment in Oracle was valued at around $25,756,000.

Recent Activities by Other Investors

Several other institutional investors have also been active in trading Oracle shares. Eagle Rock Investment Company LLC raised its Oracle holdings by 0.4% in the third quarter, now owning 17,626 shares, valued at $3,003,000, after purchasing 64 additional shares. Similarly, Versant Capital Management Inc increased its stake by 1.7%, owning 3,957 shares worth $674,000 after buying 65 new shares.

First International Bank & Trust and Adirondack Trust Co. also reported slight increases in their Oracle holdings. First International Bank & Trust upped its shares by 1.8%, owning 3,734 shares valued at $636,000. Adirondack Trust Co. lifted its position by 0.8%, reaching a total of 8,636 shares worth $1,472,000.

Furthermore, Werlinich Asset Management LLC added 3.1% to its Oracle shares during the second quarter, owning 2,325 shares valued at approximately $326,000. Institutional investors and hedge funds collectively hold 42.44% of Oracle's stock.

Analysts React with New Price Targets

In light of these developments, analysts have reassessed Oracle's stock price. DA Davidson revised its target price from $105.00 to $140.00 and assigned a 'neutral' rating. Meanwhile, Evercore ISI increased its price objective from $160.00 to $175.00, rating Oracle as 'outperform.' Deutsche Bank also raised its target price from $150.00 to $165.00, maintaining a 'buy' rating.

BMO Capital Markets similarly adjusted its price target from $160.00 to $173.00, while Sanford C. Bernstein increased their target from $201.00 to $202.00, also rating Oracle as 'outperform.' Currently, 10 analysts recommend holding the stock, while 20 suggest buying, leading to a consensus rating of 'Moderate Buy' and an average price target of $167.42 according to MarketBeat.com.

Insider Trading Activity

Recent insider trading activities have also been noteworthy. On September 16, EVP Maria Smith sold 6,320 shares at an average price of $165.00, totaling approximately $1,042,800. Following this sale, Smith's total ownership was reported to be 42,889 shares valued at about $7,076,685, representing a small decrease in her stake.

Moreover, Chairman Lawrence Joseph Ellison sold a substantial number of shares, totaling 1,125,000 at an average price of $143.69 for over $161 million. After this transaction, Ellison continues to hold 1,145,732,353 shares in the company, valued at over $164 billion. In the last quarter alone, insiders have sold a significant total of 1,146,320 shares worth around $164.76 million. Company insiders maintain a 42.20% ownership stake.

Oracle Stock Performance Overview

As of the latest trading session, Oracle shares opened at $175.75. The stock has experienced a 52-week low of $99.26 and a high of $178.61. Its fifty-day and 200-day moving averages are reported at $151.64 and $136.77, respectively. Oracle's market capitalization stands at approximately $487.01 billion, with a P/E ratio of 45.30, a price-to-earnings-growth ratio of 3.29, and a beta of 1.01.

On September 9, Oracle announced its earnings results, reporting an EPS of $1.39 for the quarter, exceeding analysts' expectations of $1.33. The company also noted a net margin of 20.40% and a return on equity of 171.38%, with a reported revenue of $13.31 billion, surpassing forecasts which anticipated $13.23 billion. This represents a 6.9% increase in revenue compared to the same period last year.

Oracle Dividend Announcements

Oracle has recently declared a quarterly dividend of $0.40 per share, scheduled for payment on October 24. Shareholders who are on record as of October 10 will receive this dividend. The annualized dividend yields approximately 0.91%, with a payout ratio of 41.24%.

About Oracle Corporation

Oracle Corporation is a global provider of enterprise technology solutions, offering a wide range of products and services. Their offerings include cloud software services such as Oracle Fusion for various enterprise resource management functions, cloud applications, marketing, service solutions, and healthcare solutions.

Oracle, Investment, Shares