Atlatl Advisers Boosts Oracle Holdings to $2.13 Million in Q2

Atlatl Advisers LLC has significantly increased its investment in Oracle Corporation, raising its holdings by 292.5% during the second quarter of 2023. According to a recent disclosure with the Securities and Exchange Commission (SEC), the firm now owns 9,758 shares of the enterprise software provider, following the acquisition of an additional 7,272 shares during this period. As of the latest filing, Oracle accounts for 1.0% of Atlatl Advisers LLC’s investment portfolio, making it the firm’s 22nd largest holding with an estimated value of $2.13 million.

The trend of institutional investment in Oracle is reflected in actions taken by several other firms. For instance, Redmont Wealth Advisors LLC established a new position in Oracle valued at around $27,000 in the first quarter. Iron Horse Wealth Management LLC ramped up its holdings by 284.9% during the same period, bringing their total to 204 shares, valued at approximately $29,000. Other firms, including LGT Financial Advisors LLC and Legend Financial Advisors Inc., also made new investments worth around $33,000 and $34,000 respectively. Currently, institutional investors and hedge funds hold 42.44% of Oracle’s stock.

Analysts’ Insights and Stock Performance

Recent evaluations from various brokerages indicate a positive outlook for Oracle. Melius Research raised its target price from $270.00 to $370.00 with a “buy” rating. Similarly, Berenberg Bank increased its target from $202.00 to $306.00, while Jefferies Financial Group set a new target of $400.00. DA Davidson and Stifel Nicolaus also raised their respective price targets, reflecting a strong interest in Oracle’s growth potential. Overall, the stock has garnered a consensus rating of “Moderate Buy,” with an average price target of $323.69.

On the trading floor, Oracle shares opened at $283.45 and have shown a steady increase over the past months. The stock’s fifty-day moving average stands at $274.59, while the two-hundred-day average is $221.04. Notably, Oracle has experienced a 12-month low of $118.86 and a high of $345.72. As of now, the company boasts a market capitalization of $808.05 billion and a price-to-earnings (P/E) ratio of 65.61.

Recent Earnings and Dividend Updates

Oracle recently announced its quarterly earnings on September 9, 2023, reporting earnings per share (EPS) of $1.47, slightly below the consensus estimate of $1.48. The company generated revenue of $14.93 billion, which was also lower than the expected $15.04 billion. Despite missing these benchmarks, Oracle’s revenue reflects a robust year-over-year growth of 12.2%.

For the upcoming fiscal guidance, Oracle has projected an EPS range of $1.270 to $1.310 for the second quarter of 2026. Analysts predict an average EPS of $5 for the current fiscal year.

In addition to earnings, Oracle has declared a quarterly dividend of $0.50, which was paid out on October 23, 2023. This annualizes to $2.00, yielding approximately 0.7%. The dividend payout ratio stands at 46.30%.

Recent insider transactions have also attracted attention. EVP Maria Smith sold 5,000 shares on October 23, 2023, at an average price of $280.62, totaling around $1.4 million. Following this sale, her remaining shares are valued at approximately $13.2 million. Another insider, Michael D. Sicilia, sold 33,845 shares on September 23, 2023, for about $10.87 million.

Overall, Oracle Corporation continues to be a significant player in the enterprise software market, with increasing institutional interest and solid financial performance indicating its resilience and growth potential.