Fortitude Advisory Group L.L.C. Boosts Stock Holdings in Oracle Co. (NYSE:ORCL)

Fortitude Advisory Group L.L.C. grew its position in Oracle Co. (NYSE:ORCL) by 11.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,828 shares of the enterprise software provider’s stock after buying an additional 608 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Oracle were worth $756,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new stake in shares of Oracle during the 4th quarter worth about $30,000. Hurley Capital LLC purchased a new stake in Oracle during the 4th quarter worth about $33,000. Synergy Investment Management LLC purchased a new position in Oracle in the fourth quarter valued at about $34,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Oracle during the 4th quarter valued at approximately $36,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Oracle during the 4th quarter worth approximately $36,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Trading Down 2.0%

NYSE ORCL opened at $210.94 on Tuesday. The firm has a market capitalization of $589.98 billion, a price-to-earnings ratio of 51.57, a PEG ratio of 3.46 and a beta of 1.32. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81. Oracle Co. has a one year low of $118.86 and a one year high of $216.60. The company’s 50 day moving average price is $154.61 and its 200 day moving average price is $160.49.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, sell-side analysts predict that Oracle Co. will post 5 EPS for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, July 10th. Oracle’s dividend payout ratio (DPR) is presently 46.08%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ORCL. DA Davidson raised their price objective on Oracle from $140.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, June 12th. Wall Street Zen cut Oracle from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Cantor Fitzgerald decreased their price objective on shares of Oracle from $214.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Bank of America raised their target price on shares of Oracle from $156.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, June 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $130.00 price target on shares of Oracle in a report on Wednesday, June 11th. Eleven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $194.32.

Insiders Place Their Bets

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the transaction, the insider now directly owns 1,097,576 shares in the company, valued at approximately $209,000,421.92. This represents a 26.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leon E. Panetta sold 5,000 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $129.77, for a total transaction of $648,850.00. Following the sale, the director now directly owns 58,090 shares of the company’s stock, valued at approximately $7,538,339.30. The trade was a 7.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 427,366 shares of company stock worth $80,183,723 over the last quarter. 42.20% of the stock is owned by corporate insiders.

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.