Gitterman Wealth Management LLC Purchases Shares of 1,776 Oracle Corporation $ORCL

Key Points

• Gitterman Wealth Management LLC purchased 1,776 shares of Oracle Corporation, valued at approximately $248,000, during the first quarter of the financial year.
• Analysts have recently set new price targets for Oracle, with BMO Capital Markets raising theirs from $235.00 to $245.00, indicating a continuous bullish outlook on the stock.
• Oracle has reported $1.70 earnings per share for the last quarter, surpassing estimates and marking an 11.3% revenue increase year-over-year.

Gitterman Wealth Management LLC purchased a new stake in Oracle Corporation (NYSE:ORCL - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,776 shares of the enterprise software provider's stock, valued at approximately $248,000.

Other large investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in Oracle in the first quarter valued at $27,000. Inlight Wealth Management LLC bought a new stake in Oracle in the first quarter valued at $28,000. Iron Horse Wealth Management LLC grew its position 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 acquiring an additional 151 shares during the period. Sunbeam Capital Management LLC bought a new stake in Oracle in the fourth quarter valued at $30,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Oracle in the fourth quarter valued at $36,000. 42.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ORCL has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price objective on Oracle from $235.00 to $245.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Morgan Stanley reissued an "overweight" rating on shares of Oracle in a research note on Wednesday, June 18th. TD Cowen boosted their price objective on Oracle from $275.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Loop Capital set a $135.00 price objective on Oracle in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Oracle from $135.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $227.04.

Oracle Trading Down 0.9%

Shares of ORCL opened at $233.0010 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $260.87. The firm has a market capitalization of $654.46 billion, a PE ratio of 53.69, a price-to-earnings-growth ratio of 3.51 and a beta of 1.43. The stock's fifty day simple moving average is $234.95 and its 200-day simple moving average is $182.32.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, July 10th. Oracle's dividend payout ratio is currently 46.08%.

Insiders Place Their Bets

In related news, insider Clayton M. Magouyrk sold 15,000 shares of the company's stock in a transaction dated 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 sale, the insider owned 60,722 shares in the company, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rona Alison Fairhead acquired 480 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was bought at an average price of $233.87 per share, with a total value of $112,257.60. Following the acquisition, the director directly owned 22,110 shares of the company's stock, valued at $5,170,865.70. The trade was a 2.22% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 444,183 shares of company stock valued at $86,521,198 in the last ninety days. 42.20% of the stock is currently owned by 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.

Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Corporation (NYSE:ORCL - Free Report).

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.