Formidable Asset Management LLC Purchases 1,276 Shares of Oracle Corporation (NYSE:ORCL)

Formidable Asset Management LLC boosted its position in Oracle Corporation (NYSE:ORCL - Free Report) by 9.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,459 shares of the enterprise software provider's stock after purchasing an additional 1,276 shares during the quarter. Formidable Asset Management LLC's holdings in Oracle were worth $2,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORCL. Redmont Wealth Advisors LLC bought a new stake in shares of Oracle during the 1st quarter valued at $27,000. Inlight Wealth Management LLC bought a new stake in Oracle during the first quarter worth about $28,000. Iron Horse Wealth Management LLC grew 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 in the last quarter. Sunbeam Capital Management LLC bought a new position in Oracle in the 4th quarter valued at about $30,000. Finally, Hurley Capital LLC bought a new position in Oracle in the 4th quarter valued at about $33,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ORCL has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price target on Oracle from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Barclays reissued an "overweight" rating and set a $221.00 target price (up previously from $202.00) on shares of Oracle in a research note on Friday, June 13th. Bank of America raised their price target on shares of Oracle from $156.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, June 12th. Mizuho lowered their price objective on shares of Oracle from $210.00 to $180.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Guggenheim raised their target price on shares of Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Nine investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.29.

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the transaction, the executive vice president directly owned 40,807 shares of the company's stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the transaction, the insider owned 1,097,576 shares in the company, valued at $209,000,421.92. This represents a 26.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 448,669 shares of company stock worth $85,555,309 over the last quarter. Insiders own 42.20% of the company's stock.

Oracle Stock Performance

Oracle stock traded down $3.45 during mid-day trading on Friday, reaching $245.30. 9,671,806 shares of the company's stock were exchanged, compared to its average volume of 10,370,432. The firm has a market capitalization of $689.01 billion, a PE ratio of 56.52, a P/E/G ratio of 3.67 and a beta of 1.39. 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's fifty day simple moving average is $196.21 and its 200 day simple moving average is $168.95. Oracle Corporation has a one year low of $118.86 and a one year high of $251.60.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. Oracle's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, sell-side analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.82%. Oracle's dividend payout ratio (DPR) is 46.08%.

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.