Oracle Corporation (NYSE:ORCL) Shares Sold by Concord Wealth Partners

Concord Wealth Partners decreased its position in Oracle Corporation (NYSE:ORCL) by 25.6% during the 1st quarter, Holdings Channel reports. The fund owned 2,396 shares of the enterprise software provider’s stock after selling 825 shares during the quarter. Concord Wealth Partners’ holdings in Oracle were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC bought a new position in Oracle during the 4th quarter valued at $30,000. Hurley Capital LLC acquired a new position in shares of Oracle in the fourth quarter worth about $33,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Oracle in the first quarter worth approximately $27,000. Inlight Wealth Management LLC bought a new position in Oracle during the first quarter valued at approximately $28,000. Finally, Iron Horse Wealth Management LLC raised its position in shares of Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock valued at $29,000 after purchasing an additional 151 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Stock Performance

Shares of ORCL stock opened at $249.06 on Friday. The company has a market capitalization of $699.56 billion, a P/E ratio of 57.39, a price-to-earnings-growth ratio of 3.61 and a beta of 1.39. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $251.60. The company’s 50 day moving average price is $194.31 and its two-hundred day moving average price is $168.39. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75.

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

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be paid a $0.50 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.80%. Oracle’s dividend payout ratio is currently 46.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America boosted their target price on shares of Oracle from $156.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, June 12th. Royal Bank Of Canada lifted their price target on Oracle from $145.00 to $195.00 and gave the company a “sector perform” rating in a research note on Thursday, June 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $240.00 price objective (up previously from $200.00) on shares of Oracle in a report on Thursday, June 12th. Cowen reaffirmed a “buy” rating on shares of Oracle in a research report on Thursday, June 12th. Finally, Scotiabank started coverage on Oracle in a research report on Thursday. They set a “sector outperform” rating and a $300.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Oracle presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.61.

Insider Buying and Selling

In other Oracle news, insider Clayton M. Magouyrk sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the sale, the insider owned 60,722 shares in the company, valued at approximately $13,000,580.20. The trade was a 19.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Maria Smith sold 10,000 shares of the business’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the sale, the executive vice president owned 40,807 shares of the company’s stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 445,366 shares of company stock worth $84,784,653 over the last ninety days. 42.20% of the stock is owned by company insiders.

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.