Range Financial Group LLC Decreases Stake in Oracle Corporation $ORCL

Range Financial Group LLC lowered its position in Oracle Corporation (NYSE:ORCL) by 6.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,178 shares of the enterprise software provider’s stock after selling 138 shares during the period. Range Financial Group LLC’s holdings in Oracle were worth $476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new position in Oracle in the 1st quarter valued at $27,000. Inlight Wealth Management LLC purchased a new position in Oracle in the 1st quarter valued at $28,000. Iron Horse Wealth Management LLC lifted its holdings in Oracle by 284.9% in the 1st 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 in the last quarter. Sunbeam Capital Management LLC purchased a new position in Oracle in the 4th quarter valued at $30,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Oracle in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ORCL shares. Bank of America upgraded Oracle from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $295.00 to $368.00 in a report on Wednesday, September 10th. CIBC reiterated a “buy” rating on shares of Oracle in a report on Monday, June 9th. Stifel Nicolaus lifted their price target on Oracle from $250.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Loop Capital set a $135.00 price target on Oracle in a report on Tuesday, June 10th. Finally, Berenberg Bank lifted their price target on Oracle from $202.00 to $306.00 and gave the stock a “hold” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and an average price target of $303.44.

Oracle Stock Up 3.4%

Shares of NYSE:ORCL opened at $302.10 on Tuesday. The business has a 50-day moving average price of $246.08 and a 200 day moving average price of $191.63. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.33. The company has a market capitalization of $858.48 billion, a price-to-earnings ratio of 69.93, a PEG ratio of 3.16 and a beta of 1.46. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $345.72.

Oracle Announces Dividend

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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. Oracle’s dividend payout ratio (DPR) is presently 46.30%.

Insiders Place Their Bets

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the transaction, the director directly owned 31,447 shares of the company’s stock, valued at $7,337,214.04. The trade was a 9.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rona Alison Fairhead bought 480 shares of the company’s stock in a transaction on Monday, July 7th. The stock was purchased at an average cost of $233.87 per share, with a total value of $112,257.60. Following the completion of the transaction, the director owned 22,110 shares in the company, valued at $5,170,865.70. This represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 29,183 shares of company stock valued at $7,141,698 over the last 90 days. Company insiders own 42.20% of the company’s stock.

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.