Riverchase Wealth Management LLC Decreases Stake in Oracle Corporation (NYSE:ORCL)

Riverchase Wealth Management LLC lowered its position in Oracle Corporation (NYSE:ORCL) by 10.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,452 shares of the enterprise software provider’s stock after selling 161 shares during the period. Riverchase Wealth Management LLC’s holdings in Oracle were worth $203,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sunbeam Capital Management LLC purchased a new position in shares of Oracle during the 4th quarter worth $30,000. Hurley Capital LLC purchased a new position in shares of Oracle during the 4th quarter worth $33,000. Redmont Wealth Advisors LLC purchased a new position in shares of Oracle during the 1st quarter worth $27,000. Inlight Wealth Management LLC purchased a new position in shares of Oracle during the 1st quarter worth $28,000. Finally, Iron Horse Wealth Management LLC increased its position in shares of Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Stock Performance

NYSE ORCL traded down $0.30 on Friday, reaching $248.45. The stock had a trading volume of 1,475,181 shares, compared to its average volume of 10,305,511. 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 Corporation has a 12-month low of $118.86 and a 12-month high of $251.60. The business’s 50-day moving average price is $194.31 and its 200 day moving average price is $168.39. The stock has a market cap of $697.87 billion, a P/E ratio of 57.10, a price-to-earnings-growth ratio of 3.61 and a beta of 1.39.

Oracle (NYSE:ORCL) last issued its quarterly earnings data 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. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The company had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

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

Insider Activity

In related news, EVP Maria Smith sold 10,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the completion of the sale, the executive vice president directly owned 40,807 shares of the company’s stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Naomi O. Seligman sold 2,866 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the sale, the director directly owned 31,764 shares of the company’s stock, valued at approximately $4,749,670.92. This represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 445,366 shares of company stock valued at $84,784,653. 42.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Guggenheim raised their price objective on Oracle from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Royal Bank Of Canada raised their price objective on Oracle from $145.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 12th. Cowen reissued a “buy” rating on shares of Oracle in a research report on Thursday, June 12th. Jefferies Financial Group lifted their target price on Oracle from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $195.00 target price (up from $145.00) on shares of Oracle in a research report on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Oracle currently has an average rating of “Moderate Buy” and a consensus target price of $218.29.

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.