44 Wealth Management LLC Buys New Shares in Oracle Corporation (NYSE:ORCL)

44 Wealth Management LLC purchased a new position in shares of Oracle Corporation (NYSE:ORCL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,761 shares of the enterprise software provider's stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ORCL. Sunbeam Capital Management LLC purchased a new stake in Oracle during the 4th quarter valued at about $30,000. Hurley Capital LLC purchased a new stake in shares of Oracle during the fourth quarter valued at approximately $33,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Oracle during the first quarter valued at approximately $27,000. Inlight Wealth Management LLC bought a new position in shares of Oracle in the first quarter worth approximately $28,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Oracle during the 4th quarter valued at $36,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Leon E. Panetta sold 17,500 shares of Oracle stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the sale, 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 can be accessed through this hyperlink. Also, insider Clayton M. Magouyrk sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares in the company, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 440,366 shares of company stock worth $83,103,603. 42.20% of the stock is currently owned by corporate insiders.

Oracle Stock Performance

Shares of NYSE ORCL traded up $7.41 during trading on Friday, reaching $237.39. 18,441,376 shares of the company traded hands, compared to its average volume of 10,140,491. 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 50 day simple moving average of $178.14 and a 200-day simple moving average of $164.26. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $237.99. The stock has a market capitalization of $666.79 billion, a PE ratio of 54.70, a P/E/G ratio of 3.55 and a beta of 1.39.

Oracle (NYSE:ORCL - Get Free Report) 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 firm had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.63 EPS. Equities research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle's dividend payout ratio (DPR) is 46.08%.

Analyst Ratings Changes

ORCL has been the subject of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of Oracle from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Stifel Nicolaus upgraded Oracle from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $180.00 to $250.00 in a research report on Monday, June 30th. Guggenheim upped their target price on Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Piper Sandler reiterated a "neutral" rating and issued a $130.00 price target on shares of Oracle in a report on Wednesday, June 11th. Finally, JMP Securities set a $240.00 price objective on shares of Oracle and gave the stock a "market outperform" rating in a report on Thursday, June 12th. Ten equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.15.

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.