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Invst LLC cut its stake in Oracle Corporation (NYSE:ORCL – Free Report) by 33.9% in the first quarter, HoldingsChannel reports. The fund owned 1,849 shares of the enterprise software provider’s stock after selling 950 shares during the period. Invst LLC’s holdings in Oracle were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently bought and sold shares of the stock. Hodges Capital Management Inc. acquired a new position in Oracle in the first quarter valued at approximately $280,000. Modern Wealth Management LLC lifted its holdings in Oracle by 56.3% in the first quarter. Modern Wealth Management LLC now owns 22,611 shares of the enterprise software provider’s stock valued at $3,161,000 after acquiring an additional 8,142 shares during the period. Vista Cima Wealth Management LLC lifted its holdings in Oracle by 2.6% in the first quarter. Vista Cima Wealth Management LLC now owns 4,131 shares of the enterprise software provider’s stock valued at $578,000 after acquiring an additional 106 shares during the period. Silicon Valley Capital Partners lifted its holdings in Oracle by 782.0% in the first quarter. Silicon Valley Capital Partners now owns 69,217 shares of the enterprise software provider’s stock valued at $9,751,000 after acquiring an additional 61,369 shares during the period. Finally, Strs Ohio acquired a new position in Oracle in the first quarter valued at approximately $108,572,000. 42.44% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
ORCL has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their target price on Oracle from $145.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, June 12th. Morgan Stanley boosted their price objective on Oracle from $175.00 to $246.00 and gave the stock an “equal weight” rating in a research note on Monday, September 8th. Cantor Fitzgerald raised their target price on Oracle from $271.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday. Westpark Capital increased their price objective on Oracle from $195.00 to $246.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. Finally, Piper Sandler lifted their target price on shares of Oracle from $270.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Oracle has a consensus rating of “Moderate Buy” and a consensus price target of $296.84.
View Our Latest Research Report on Oracle
Insider Buying and Selling
In related news, insider Michael D. Sicilia sold 15,880 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total value of $4,041,142.40. Following the completion of the transaction, the insider directly owned 99,212 shares in the company, valued at approximately $25,247,469.76. This represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider owned 60,722 shares of the company’s stock, valued at $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,183 shares of company stock valued at $10,353,198 in the last ninety days. Company insiders own 42.20% of the company’s stock.
Oracle Price Performance
Oracle stock opened at $292.07 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.75 and a debt-to-equity ratio of 3.33. The company has a 50-day moving average price of $244.69 and a 200 day moving average price of $190.50. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $345.72. The stock has a market cap of $820.38 billion, a P/E ratio of 67.61, a PEG ratio of 4.10 and a beta of 1.46.
Oracle (NYSE:ORCL – Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. Sell-side analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.
Oracle Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, October 9th. Oracle’s dividend payout ratio is presently 46.30%.
Oracle Profile
Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.
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