Empirical Financial Services LLC d.b.a. Empirical Wealth Management Reduces Position in Oracle Corporation (NYSE:ORCL)

Key Points

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Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 37.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,462 shares of the enterprise software provider's stock after selling 37,532 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Oracle were worth $8,873,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. boosted its stake in Oracle by 18.6% in the first quarter. Harbour Investments Inc. now owns 23,200 shares of the enterprise software provider's stock worth $3,244,000 after buying an additional 3,639 shares in the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of Oracle by 6.8% in the 1st quarter. HHM Wealth Advisors LLC now owns 4,292 shares of the enterprise software provider's stock worth $600,000 after acquiring an additional 273 shares during the last quarter. King Wealth Management Group boosted its stake in shares of Oracle by 71.5% in the 1st quarter. King Wealth Management Group now owns 34,634 shares of the enterprise software provider's stock valued at $4,842,000 after purchasing an additional 14,439 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in shares of Oracle by 3.2% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 23,420 shares of the enterprise software provider's stock valued at $3,274,000 after purchasing an additional 730 shares in the last quarter. Finally, Menard Financial Group LLC grew its holdings in shares of Oracle by 10.4% during the 1st quarter. Menard Financial Group LLC now owns 1,525 shares of the enterprise software provider's stock valued at $225,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 42.44% of the company's stock.

Wall Street Analyst Weigh In

ORCL has been the subject of several recent research reports. Guggenheim boosted their price target on shares of Oracle from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Morgan Stanley reiterated an "overweight" rating on shares of Oracle in a report on Wednesday, June 18th. Evercore ISI increased their target price on Oracle from $215.00 to $270.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Raymond James Financial restated a "strong-buy" rating on shares of Oracle in a report on Wednesday, June 18th. Finally, JMP Securities raised their price target on Oracle from $240.00 to $315.00 and gave the stock a "market outperform" rating in a research report on Friday, July 18th. Nine analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $218.29.

Insider Activity at Oracle

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total transaction of $770,655.96. Following the completion of the sale, the director directly owned 31,447 shares in the company, valued at approximately $7,337,214.04. This trade represents a 9.51% decrease in their position. The transaction 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 transaction of $2,329,900.00. Following the completion of the transaction, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 431,169 shares of company stock worth $82,908,609 in the last ninety days. 42.20% of the stock is currently owned by company insiders.

Oracle Stock Down 2.9%

Shares of ORCL traded down $7.28 during mid-day trading on Friday, reaching $246.49. The company had a trading volume of 4,233,860 shares, compared to its average volume of 12,047,818. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $692.36 billion, a price-to-earnings ratio of 56.78, a price-to-earnings-growth ratio of 3.74 and a beta of 1.39. The firm has a 50-day moving average price of $211.78 and a 200 day moving average price of $174.13. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $260.87.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The firm's quarterly revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts forecast that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's dividend payout ratio is 46.08%.

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.