KLP Kapitalforvaltning AS Takes Position in Oracle Co. Shares

KLP Kapitalforvaltning AS has recently announced a new investment in Oracle Co. (NYSE:ORCL - Free Report) during the fourth quarter, as outlined in its latest Form 13F submission with the Securities and Exchange Commission (SEC). The firm acquired a total of 562,722 shares in the renowned enterprise software provider, with an estimated value of about $93,772,000.

In addition to KLP Kapitalforvaltning AS, several other hedge funds have either increased or decreased their ownership of Oracle shares. For instance, State Street Corp enhanced its stake in the company by 2.7% in the third quarter, now holding 70,441,556 shares worth approximately $12 billion. Meanwhile, Geode Capital Management LLC also raised its investment by 2.6%, owning 35,194,683 shares valued at around $5.98 billion. Similarly, Franklin Resources Inc. increased its holdings by 11.6%, now comprising 18,480,384 shares worth about $3.37 billion. Other notable firms like Fisher Asset Management LLC and Janus Henderson Group PLC have also adjusted their positions with minor increases during the last quarter.

Insider Trading Activity

In related news, Oracle's CEO Safra Catz sold 345,174 shares of the company in a transaction that occurred on January 24th. The shares were sold for an average price of $185.56, totaling approximately $64 million. Following this sale, Catz now personally holds 1,118,592 shares valued at approximately $207.57 million, reflecting a 23.58% reduction in her ownership. Such insider transactions are reported to the SEC and made available for public viewing.

Recent Analyst Ratings and Recommendations

Oracle has attracted attention from various equities research analysts recently. For example, Jefferies Financial Group raised its price target from $190 to $220 with a "buy" rating. Likewise, BNP Paribas has upgraded the stock to a "strong-buy". KeyCorp has reaffirmed an "overweight" rating with a $200 price target, while Mizuho increased its target from $185 to $210, rating it as "outperform". Currently, the stock is viewed favorably, with some analysts giving it a "Moderate Buy" rating.

Current Stock Performance

As of the latest data, Oracle's stock (NYSE:ORCL - Free Report) opened at $152.83. The company's financial ratios indicate a healthy but cautious position, with a market cap of $427.45 billion and a price-to-earnings ratio (P/E) of 37.37. Over the past year, Oracle's price has fluctuated significantly, with a low of $112.78 and a high of $198.31. The firm reported quarterly earnings of $1.47 per share, slightly below market expectations, alongside a revenue of $14.13 billion, marking a 6.4% increase year-over-year.

Dividend Announcement

Oracle has also declared an upcoming quarterly dividend which is set to be paid on April 23rd. Shareholders as of April 10th will receive $0.50 per share, an increase from the previous $0.40 paid. This adjustment brings the annualized dividend to $2.00, resulting in a yield of approximately 1.31%.

Company Overview

Oracle Corporation is a significant player in the global information technology sector, providing a range of products and services. Its offerings include Oracle Cloud Software as a Service (SaaS), encompassing cloud applications like Oracle Fusion for enterprise resource planning, human capital management, and several other specialized applications to meet diverse organizational needs.

Investment, Oracle, Shares