Corebridge Financial Inc. Sells 14,113 Shares of Oracle Corporation $ORCL

Key Points

• Corebridge Financial Inc. has reduced its stake in Oracle Corporation by 3.3%, now holding 418,409 shares worth approximately $58.5 million after selling 14,113 shares.
• Oracle recently announced a quarterly dividend of $0.50, representing an annualized payout of $2.00 and a yield of 0.8%, with a payout ratio of 46.08%.
• Oracle reported a strong Q1, with an EPS of $1.70, exceeding analysts' expectations, and revenues of $15.90 billion, reflecting an 11.3% year-over-year increase.

Corebridge Financial Inc. trimmed its position in Oracle Corporation (NYSE:ORCL - Free Report) by 3.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,409 shares of the enterprise software provider's stock after selling 14,113 shares during the period. Corebridge Financial Inc.'s holdings in Oracle were worth $58,498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC purchased a new position in shares of Oracle in the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC purchased a new position in Oracle in the first quarter valued at approximately $27,000. Inlight Wealth Management LLC purchased a new position in Oracle in the first quarter valued at approximately $28,000. Iron Horse Wealth Management LLC lifted its stake in Oracle by 284.9% in the first 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 during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in Oracle in the fourth quarter valued at approximately $36,000. 42.44% of the stock is owned by institutional investors.

Oracle Price Performance

Shares of ORCL opened at $236.1670 on Monday. The company has a market capitalization of $663.35 billion, a P/E ratio of 54.42, a price-to-earnings-growth ratio of 3.53 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 firm has a 50 day moving average of $235.36 and a 200 day moving average of $182.94. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $260.87.

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

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were paid a $0.50 dividend. The ex-dividend date was Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.8%. Oracle's payout ratio is presently 46.08%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays reiterated an "overweight" rating and issued a $221.00 price objective (up previously from $202.00) on shares of Oracle in a research note on Friday, June 13th. Scotiabank began coverage on Oracle in a research report on Thursday, July 17th. They set a "sector outperform" rating and a $300.00 target price on the stock. Loop Capital set a $135.00 target price on Oracle in a research report on Tuesday, June 10th. CIBC reaffirmed a "buy" rating on shares of Oracle in a report on Monday, June 9th. Finally, Piper Sandler raised Oracle from a "neutral" rating to an "overweight" rating and increased their target price for the company from $190.00 to $270.00 in a research note on Thursday, July 10th. Three 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $227.04.

Insider Transactions at Oracle

In other Oracle news, Director Rona Alison Fairhead bought 480 shares of Oracle stock in a transaction dated Monday, July 7th. The shares were purchased at an average cost of $233.87 per share, for a total transaction of $112,257.60. Following the acquisition, the director directly owned 22,110 shares in the company, valued at approximately $5,170,865.70. This represents a 2.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Maria Smith sold 10,000 shares of the business's stock in a transaction dated 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 owned 40,807 shares in the company, valued at approximately $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 444,183 shares of company stock worth $86,521,198. 42.20% of the stock is currently owned by corporate insiders.

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.

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