Bragg Financial Advisors Inc Decreases Stake in Oracle Corporation $ORCL

Key Points

• Bragg Financial Advisors Inc decreased its stake in Oracle Corporation by 1.9%, now holding 206,140 shares worth approximately $28.82 million.
• Oracle reported earnings of $1.70 per share in its latest quarter, exceeding analyst expectations, with revenue of $15.90 billion, up 11.3% from the previous year.
• Oracle recently announced a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 0.9%.

Bragg Financial Advisors Inc lowered its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 1.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 206,140 shares of the enterprise software provider's stock after selling 3,901 shares during the quarter. Oracle comprises approximately 1.2% of Bragg Financial Advisors Inc's holdings, making the stock its 12th largest holding. Bragg Financial Advisors Inc's holdings in Oracle were worth $28,820,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in Oracle during the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC purchased a new stake in Oracle during the 1st quarter worth approximately $28,000. Iron Horse Wealth Management LLC increased its holdings in 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. Sunbeam Capital Management LLC purchased a new stake in Oracle during the 4th quarter worth approximately $30,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Oracle during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Oracle Stock Performance

ORCL opened at $235.1560 on Thursday. The firm has a market cap of $660.51 billion, a PE ratio of 54.18, a P/E/G ratio of 3.50 and a beta of 1.43. 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 business has a fifty day simple moving average of $234.29 and a 200-day simple moving average of $181.88. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $260.87.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%.The company's revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. As a group, equities analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a $0.50 dividend. The ex-dividend date was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.9%. Oracle's dividend payout ratio is presently 46.08%.

Insider Buying and Selling

In related news, Director Rona Alison Fairhead purchased 480 shares of the company's stock in a transaction dated Monday, July 7th. The shares were acquired at an average cost of $233.87 per share, with a total value of $112,257.60. Following the completion of the purchase, the director owned 22,110 shares of the company's stock, valued at $5,170,865.70. The trade was a 2.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Maria Smith sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the sale, the executive vice president directly owned 40,807 shares of the company's stock, valued at $9,507,622.93. The trade was a 19.68% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 444,183 shares of company stock valued at $86,521,198. 42.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ORCL has been the topic of several analyst reports. Citigroup upgraded Oracle from a "hold" rating to a "strong-buy" rating in a report on Friday, July 18th. Scotiabank assumed coverage on Oracle in a research report on Thursday, July 17th. They issued a "sector outperform" rating and a $300.00 target price for the company. Guggenheim lifted their target price on Oracle from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Piper Sandler upgraded Oracle from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $190.00 to $270.00 in a research report on Thursday, July 10th. Finally, JMP Securities boosted their price objective on Oracle from $240.00 to $315.00 and gave the company a "market outperform" rating in a research report on Friday, July 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $227.04.

Oracle Company 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.

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