Lansforsakringar Fondforvaltning AB publ Cuts Stake in Oracle Corporation $ORCL

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its stake in Oracle Corporation by 6.6%, selling 39,695 shares and ending the first quarter with 565,575 shares valued at approximately $79 million.
• Several hedge funds are actively trading Oracle stocks, with new positions being established, including Iron Horse Wealth Management LLC, which increased its holdings by 284.9% in the first quarter.
• Oracle recently announced an earnings report with results exceeding expectations, achieving $1.70 EPS on revenue of $15.90 billion, reflecting an 11.3% year-over-year revenue increase.

Lansforsakringar Fondforvaltning AB publ lowered its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 565,575 shares of the enterprise software provider's stock after selling 39,695 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Oracle were worth $79,073,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new stake in Oracle during the fourth quarter worth $30,000. Redmont Wealth Advisors LLC purchased a new position in Oracle in the first quarter valued at about $27,000. Inlight Wealth Management LLC purchased a new position in shares of Oracle in the 1st quarter worth approximately $28,000. Iron Horse Wealth Management LLC grew its position in shares of Oracle by 284.9% in the 1st 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. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Oracle in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ORCL shares. Stifel Nicolaus raised shares of Oracle from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $180.00 to $250.00 in a research report on Monday, June 30th. Oppenheimer restated an "outperform" rating on shares of Oracle in a research note on Wednesday, June 18th. Mizuho boosted their price target on Oracle from $245.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $195.00 target price (up previously from $145.00) on shares of Oracle in a research report on Friday, June 13th. Finally, Bank of America upped their target price on Oracle from $220.00 to $295.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $227.04.

Oracle Trading Up 0.7%

Shares of ORCL stock opened at $235.87 on Thursday. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $662.51 billion, a price-to-earnings ratio of 54.35, a PEG ratio of 3.50 and a beta of 1.43. The stock has a 50 day simple moving average of $236.89 and a 200-day simple moving average of $184.08. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $260.87.

Oracle (NYSE:ORCL - Get Free Report) last announced its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion during 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%.The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 EPS. On average, equities research analysts expect that Oracle Corporation will post 5 EPS for the current fiscal 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 paid a $0.50 dividend. 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 currently 46.08%.

Insider Transactions at Oracle

In related news, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 31,447 shares of the company's stock, valued at approximately $7,337,214.04. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,183 shares of company stock worth $86,521,198 in the last quarter. 42.20% of the stock is 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.

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