5 Best Dividend Stocks on Robinhood

3. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 69  

Dividend Yield as of October 20: 1.93%      

Oracle Corporation (NYSE:ORCL) offers products and services that address enterprise information technology environments worldwide. It is one of the elite dividend stocks to invest in. On September 29, Oracle and Telefonos de Mexico, a Mexican telecommunication company, disclosed that they will offer Oracle Cloud Infrastructure or OCI services to customers across Mexico. 

On September 13, Evercore ISI analyst Kirk Materne maintained an In Line rating on Oracle Corporation (NYSE:ORCL) stock and raised the price target to $87 from $78, highlighting that the company delivered solid fiscal Q1 results.

At the end of the second quarter of 2022, 69 hedge funds in the database of Insider Monkey held stakes worth $4.2 billion in Oracle Corporation (NYSE:ORCL), compared to 61 in the previous quarter worth $4.3 billion.

In its Q2 2022 investor letter, First Eagle Investment Management, an asset management firm, highlighted a few stocks and Oracle Corporation (NYSE:ORCL) was one of them. Here is what the fund said:

“Oracle Corporation (NYSE:ORCL) is one of the world’s largest independent enterprise software companies and has been reinventing itself for the cloud-computing environment, a transition pursued primarily through investments in organic research and design and smallish, well-priced acquisitions. That said, Oracle in June closed its largest-ever deal with the acquisition of Cerner, a designer of software to store and analyse medical records and other healthcare data.

Oracle took on additional debt to finance this all-cash acquisition and as a result plans to moderate its stock-buyback program to focus on debt reduction. Despite the weak quarter for the stock, Oracle’s operations remain strong; it reported better- than-expected results for its most recent quarter and issued upbeat guidance for the coming fiscal year.”