LeConte Wealth Management LLC Acquires Shares of 1,666 Oracle Corporation (NYSE:ORCL)

Key Points

• LeConte Wealth Management LLC acquired 1,666 shares of Oracle Corporation (NYSE: ORCL) in the first quarter, valued at approximately $233,000, highlighting continued interest from institutional investors in the enterprise software provider.
• Analysts have raised price targets for Oracle, with Royal Bank of Canada increasing theirs from $145.00 to $195.00 and BMO Capital Markets from $235.00 to $245.00, indicating a favorable outlook and strong demand for Oracle's stock.
• Oracle recently announced a quarterly dividend of $0.50 per share, translating to an annualized dividend of $2.00, which reflects a dividend yield of 0.8% and underscores the company's commitment to returning value to shareholders.

LeConte Wealth Management LLC acquired a new stake in Oracle Corporation (NYSE:ORCL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,666 shares of the enterprise software provider's stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new position in shares of Oracle in the first quarter valued at approximately $27,000. Inlight Wealth Management LLC acquired a new position in shares of Oracle in the first quarter valued at approximately $28,000. Iron Horse Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 151 shares during the period. Sunbeam Capital Management LLC acquired a new position in Oracle during the fourth quarter worth $30,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Oracle during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ORCL shares. Royal Bank Of Canada upped their price objective on Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a report on Thursday, June 12th. BMO Capital Markets upped their price objective on Oracle from $235.00 to $245.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Barclays reaffirmed an "overweight" rating and set a $221.00 price objective (up previously from $202.00) on shares of Oracle in a report on Friday, June 13th. Cowen reaffirmed a "buy" rating on shares of Oracle in a report on Thursday, June 12th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Oracle in a research report on Wednesday, June 18th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Oracle has an average rating of "Moderate Buy" and a consensus price target of $227.04.

Insider Activity at Oracle

In related news, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction dated 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 transaction, the insider directly owned 99,212 shares of the company's stock, valued at $25,247,469.76. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction dated Wednesday, July 16th. The stock was 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 in the company, valued at approximately $7,337,214.04. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 444,183 shares of company stock valued at $86,521,198. 42.20% of the stock is owned by corporate insiders.

Oracle Trading Up 1.4%

Shares of NYSE ORCL opened at $248.48 on Friday. The company has a market cap of $697.94 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $260.87. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The stock's 50 day simple moving average is $230.54 and its 200 day simple moving average is $180.52.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The firm's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS. Equities research analysts expect that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's dividend payout ratio (DPR) is 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.

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.