Fagan Associates Inc. Grows Holdings in Oracle Corporation (NYSE:ORCL)

Fagan Associates Inc. boosted its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 33.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,051 shares of the enterprise software provider's stock after purchasing an additional 6,025 shares during the period. Fagan Associates Inc.'s holdings in Oracle were worth $3,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC acquired a new position in Oracle in the fourth quarter valued at approximately $30,000. Hurley Capital LLC acquired a new position in Oracle during the 4th quarter worth approximately $33,000. Redmont Wealth Advisors LLC acquired a new position in Oracle in the 1st quarter valued at approximately $27,000. Inlight Wealth Management LLC bought a new position in Oracle during the first quarter worth $28,000. Finally, Iron Horse Wealth Management LLC raised its stake in Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after buying an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ORCL. Morgan Stanley reissued an "overweight" rating on shares of Oracle in a report on Wednesday, June 18th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Oracle in a research report on Wednesday, June 18th. Scotiabank started coverage on shares of Oracle in a research report on Thursday. They set a "sector outperform" rating and a $300.00 price target for the company. Loop Capital set a $135.00 price target on shares of Oracle in a report on Tuesday, June 10th. Finally, Stifel Nicolaus raised shares of Oracle from a "hold" rating to a "buy" rating and upped their price objective for the stock from $180.00 to $250.00 in a research note on Monday, June 30th. Nine investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Oracle currently has an average rating of "Moderate Buy" and an average price target of $218.29.

Insider Activity at Oracle

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the transaction, the director directly owned 31,447 shares of the company's stock, valued at approximately $7,337,214.04. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 448,669 shares of company stock worth $85,555,309 over the last three months. Corporate insiders own 42.20% of the company's stock.

Oracle Price Performance

Oracle stock traded up $0.14 during midday trading on Monday, hitting $245.59. 1,228,846 shares of the company's stock were exchanged, compared to its average volume of 12,239,129. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $251.60. The stock has a 50-day moving average price of $196.21 and a two-hundred day moving average price of $168.97. 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 cap of $689.83 billion, a P/E ratio of 56.61, a PEG ratio of 3.66 and a beta of 1.39.

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 the consensus estimate 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 period in the previous year, the business earned $1.63 earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. On average, equities research analysts forecast that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle's dividend payout ratio is presently 46.08%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.