ABLE Financial Group LLC Reduces Position in Oracle Corporation (NYSE:ORCL)

ABLE Financial Group LLC lessened its holdings in shares of Oracle Corporation (NYSE:ORCL) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,735 shares of the enterprise software provider’s stock after selling 104 shares during the quarter. ABLE Financial Group LLC’s holdings in Oracle were worth $382,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Inlight Wealth Management LLC bought a new position in Oracle during the 1st quarter valued at $28,000. Sunbeam Capital Management LLC acquired a new stake in shares of Oracle in the 4th quarter valued at about $30,000. Hurley Capital LLC bought a new position in shares of Oracle during the fourth quarter worth about $33,000. Synergy Investment Management LLC acquired a new position in Oracle in the fourth quarter worth about $34,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Oracle in the fourth quarter worth about $36,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Stock Performance

ORCL opened at $218.98 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The firm has a market cap of $615.08 billion, a PE ratio of 50.46, a P/E/G ratio of 3.15 and a beta of 1.32. The business has a fifty day simple moving average of $170.34 and a 200-day simple moving average of $162.47. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $228.22.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. Oracle’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $1.63 EPS. As a group, equities analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.91%. Oracle’s payout ratio is currently 46.08%.

Insiders Place Their Bets

In related news, Director Leon E. Panetta sold 17,500 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the transaction, the director directly owned 58,090 shares of the company’s stock, valued at approximately $8,785,531.60. The trade was a 23.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the completion of the sale, the insider owned 1,097,576 shares of the company’s stock, valued at approximately $209,000,421.92. The trade was a 26.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 442,366 shares of company stock worth $83,395,223. 42.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays restated an “overweight” rating and set a $221.00 price objective (up previously from $202.00) on shares of Oracle in a research note on Friday, June 13th. Oppenheimer reiterated an “outperform” rating on shares of Oracle in a report on Wednesday, June 18th. Loop Capital set a $135.00 price objective on Oracle in a research note on Tuesday, June 10th. Piper Sandler reiterated a “neutral” rating and set a $130.00 target price on shares of Oracle in a research note on Wednesday, June 11th. Finally, Citigroup restated an “outperform” rating on shares of Oracle in a research report on Thursday, June 12th. Ten research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.26.

About Oracle

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.