Fred Alger Management LLC Has $2.70 Million Stock Holdings in Oracle Corporation $ORCL

Fred Alger Management LLC decreased its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 29.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,300 shares of the enterprise software provider's stock after selling 8,028 shares during the quarter. Fred Alger Management LLC's holdings in Oracle were worth $2,698,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in Oracle during the first quarter valued at about $27,000. Inlight Wealth Management LLC bought a new stake in shares of Oracle during the 1st quarter worth about $28,000. Iron Horse Wealth Management LLC increased its holdings in shares of Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Sunbeam Capital Management LLC bought a new position in shares of Oracle in the 4th quarter valued at approximately $30,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Oracle in the 4th quarter worth approximately $36,000. Institutional investors own 42.44% of the company's stock.

Oracle Stock Performance

NYSE:ORCL opened at $241.67 on Wednesday. The firm's 50-day moving average is $240.23 and its 200-day moving average is $187.60. The company has a market cap of $678.81 billion, a price-to-earnings ratio of 55.68, a PEG ratio of 3.56 and a beta of 1.46. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. 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 released its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $15.58 billion. During the same period last year, the business earned $1.63 earnings per share. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. Oracle's dividend payout ratio is currently 46.08%.

Insider Activity at Oracle

In other news, insider Michael D. Sicilia sold 15,880 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the sale, the insider directly owned 99,212 shares in the company, valued at approximately $25,247,469.76. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Maria Smith sold 10,000 shares of the company'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 owned 40,807 shares of the company's stock, valued at $9,507,622.93. The trade was a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 444,183 shares of company stock worth $86,521,198 in the last three months. Company insiders own 42.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. CIBC reiterated a "buy" rating on shares of Oracle in a report on Monday, June 9th. Morgan Stanley raised their target price on shares of Oracle from $175.00 to $246.00 and gave the company an "equal weight" rating in a research note on Monday. JMP Securities lifted their target price on shares of Oracle from $240.00 to $315.00 and gave the stock a "market outperform" rating in a report on Friday, July 18th. Roth Capital restated a "hold" rating on shares of Oracle in a report on Wednesday, June 18th. Finally, Cowen reaffirmed a "buy" rating on shares of Oracle in a research report on Thursday, June 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.61.

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.