LPL Financial LLC Buys 167,938 Shares of Oracle Corporation (NYSE:ORCL)

Key Points

• LPL Financial LLC has increased its holdings in Oracle Corporation by 9.1% during the first quarter, owning approximately 2 million shares valued at about $280.60 million.
• Equity analysts have provided a positive outlook for Oracle, with upgrades in stock ratings and target prices; the consensus rating is "Moderate Buy" with an average target price of $218.29.
• Oracle announced a quarterly dividend of $0.50 per share, representing an annual payout of $2.00, with a dividend yield of 0.82% as of the last declaration.

LPL Financial LLC boosted its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,007,023 shares of the enterprise software provider's stock after buying an additional 167,938 shares during the quarter. LPL Financial LLC owned approximately 0.07% of Oracle worth $280,602,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Redmont Wealth Advisors LLC purchased a new position in Oracle in the first quarter worth approximately $27,000. Inlight Wealth Management LLC acquired a new position in shares of Oracle during the 1st quarter worth $28,000. Iron Horse Wealth Management LLC grew its stake 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 worth $29,000 after purchasing an additional 151 shares during the period. Sunbeam Capital Management LLC purchased a new position in Oracle in the 4th quarter valued at about $30,000. Finally, Hurley Capital LLC purchased a new position in shares of Oracle during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ORCL. KeyCorp lifted their target price on Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Westpark Capital boosted their target price on Oracle from $195.00 to $246.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Stifel Nicolaus upgraded Oracle from a "hold" rating to a "buy" rating and boosted their price objective for the company from $180.00 to $250.00 in a research report on Monday, June 30th. CIBC restated a "buy" rating on shares of Oracle in a report on Monday, June 9th. Finally, Scotiabank started coverage on Oracle in a research note on Thursday, July 17th. They issued a "sector outperform" rating and a $300.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $218.29.

Oracle Stock Up 2.7%

Shares of ORCL stock traded up $6.75 during midday trading on Thursday, reaching $257.35. 9,412,331 shares of the stock were exchanged, compared to its average volume of 12,064,594. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $260.87. The company's 50 day moving average is $209.84 and its two-hundred day moving average is $173.44. 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 firm has a market cap of $722.85 billion, a PE ratio of 59.52, a price-to-earnings-growth ratio of 3.73 and a beta of 1.39.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly 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. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The company had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The firm's quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts predict that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.78%. Oracle's dividend payout ratio is currently 46.08%.

Insider Buying and Selling

In related news, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the transaction, the executive vice president directly owned 40,807 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm's stock in a transaction on 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 directly owned 1,097,576 shares in the company, valued at approximately $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 sold 448,669 shares of company stock worth $85,555,309 in the last quarter. Company insiders own 42.20% of the company's stock.

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.