Hartline Investment Corp Increases Stake in Oracle Corporation

Hartline Investment Corp has increased its stake in Oracle Corporation (NYSE: ORCL) by 1.3% during the second quarter of 2023. According to the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC), Hartline now owns a total of 3,845 shares of the enterprise software provider following the acquisition of an additional 51 shares. The total value of Hartline’s holdings in Oracle stands at approximately $841,000.

Several other institutional investors have also adjusted their positions in Oracle recently. Nuveen LLC, for instance, purchased a new position in the company worth $732.69 million in the first quarter. Vanguard Group Inc. expanded its stake by 2.2% during the same period, bringing its total holdings to 160,925,413 shares, valued at around $22.5 billion after acquiring an additional 3,513,464 shares. Additionally, Kingstone Capital Partners Texas LLC invested $731.51 million in Oracle during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings by 79.2% in the first quarter, now owning 4,638,951 shares valued at about $648.57 million. Finally, Assenagon Asset Management S.A. significantly boosted its position by 840.7% in the second quarter, acquiring 1,894,157 shares and bringing its total ownership to 2,119,473 shares, valued at approximately $463.38 million.

As of now, institutional investors collectively own 42.44% of Oracle’s stock.

Oracle’s Stock Performance and Upcoming Dividend

On Friday, Oracle shares opened at $291.95. The company has a market capitalization of $832.28 billion, a price-to-earnings (P/E) ratio of 67.58, and a beta of 1.53. The stock’s 50-day moving average is $271.71, while the 200-day moving average is $215.37. Over the past year, Oracle has experienced a low of $118.86 and a high of $345.72.

In addition to stock performance, Oracle has announced a quarterly dividend of $0.50, set to be paid on October 23, 2023. Shareholders on record as of October 9, 2023, will receive this dividend. This translates to an annualized dividend of $2.00, yielding 0.7%. The company’s dividend payout ratio is currently 46.30%.

Insider Transactions and Analyst Ratings

In other developments, insider Clayton M. Magouyrk sold 21,241 shares of Oracle on September 12, 2023, at an average price of $297.11, totaling approximately $6.31 million. Following this transaction, Magouyrk holds 78,000 shares valued at around $23.17 million, representing a 21.40% reduction in ownership. Similarly, Director William G. Parrett sold 11,500 shares for about $3.52 million, decreasing his ownership by 39.30%.

Over the past three months, insiders have sold a total of 120,769 shares, valued at approximately $36.43 million. Currently, corporate insiders own 40.90% of Oracle’s stock.

Recent reports from analysts highlight a generally positive outlook for Oracle shares. Jefferies Financial Group raised its target price from $360.00 to $400.00 while maintaining a “buy” rating. Bank of America upgraded its rating from “neutral” to “buy” and increased its target from $295.00 to $368.00. Cantor Fitzgerald also raised its price target to $400.00 and assigned an “overweight” rating. Evercore ISI set its target at $385.00 with an “outperform” rating. Citigroup reaffirmed a “buy” rating. Overall, three analysts have rated Oracle as a “Strong Buy,” 27 as “Buy,” nine as “Hold,” and two as “Sell,” leading to a consensus rating of “Moderate Buy” with an average target price of $323.40.

Oracle Corporation continues to offer a range of products and services that cater to enterprise information technology needs globally. Its offerings include cloud software applications such as Oracle Fusion cloud ERP, Oracle Cerner healthcare solutions, and NetSuite applications.

For those interested in following Oracle’s market activity, regular updates on hedge fund positions and insider trades can be found through credible financial news outlets.