Portside Wealth Group LLC Raises Stock Position in Oracle Co. (NYSE:ORCL)

Portside Wealth Group LLC boosted its stake in Oracle Co. (NYSE:ORCL) by 19.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,999 shares of the enterprise software provider’s stock after purchasing an additional 10,165 shares during the period. Oracle comprises approximately 1.5% of Portside Wealth Group LLC’s investment portfolio, making the stock its 9th biggest position. Portside Wealth Group LLC’s holdings in Oracle were worth $8,668,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. McClarren Financial Advisors Inc. increased its holdings in Oracle by 201.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 1,599 shares of the enterprise software provider’s stock worth $266,000 after purchasing an additional 1,069 shares in the last quarter. Paul R. Ried Financial Group LLC acquired a new stake in shares of Oracle during the 4th quarter worth approximately $500,000. Cornerstone Advisory LLC boosted its stake in Oracle by 34.1% during the fourth quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider’s stock worth $2,258,000 after acquiring an additional 3,299 shares in the last quarter. Peak Retirement Planning Inc. bought a new stake in Oracle in the fourth quarter valued at $211,000. Finally, AFT Forsyth & Company Inc. grew its stake in shares of Oracle by 32.7% in the 4th quarter. AFT Forsyth & Company Inc. now owns 6,739 shares of the enterprise software provider’s stock valued at $1,123,000 after buying an additional 1,659 shares during the period. 42.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ORCL shares. Stifel Nicolaus lowered their target price on Oracle from $175.00 to $150.00 and set a “hold” rating on the stock in a research report on Tuesday, March 11th. Stephens assumed coverage on shares of Oracle in a report on Wednesday, March 19th. They set an “equal weight” rating and a $167.00 price objective for the company. Citigroup lowered their target price on shares of Oracle from $194.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Monness Crespi & Hardt raised shares of Oracle from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Finally, DA Davidson decreased their price objective on Oracle from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.42.

Oracle Price Performance

NYSE ORCL opened at $169.26 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The company has a market cap of $473.40 billion, a PE ratio of 41.38, a price-to-earnings-growth ratio of 3.46 and a beta of 1.32. Oracle Co. has a 52 week low of $118.72 and a 52 week high of $198.31. The firm’s 50-day simple moving average is $145.39 and its two-hundred day simple moving average is $160.82.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same period last year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts predict that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Oracle’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a dividend yield of 1.18%. Oracle’s payout ratio is 46.95%.

Insider Activity at Oracle

In related news, Director Leon E. Panetta sold 17,500 shares of the company’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 sale, the director now owns 58,090 shares of the company’s stock, valued at approximately $8,785,531.60. This represents a 23.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Naomi O. Seligman sold 2,866 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $149.53, for a total transaction of $428,552.98. Following the transaction, the director now owns 31,764 shares of the company’s stock, valued at $4,749,670.92. This trade represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,366 shares of company stock worth $4,015,723. 42.20% of the stock is owned by company 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.