Modern Wealth Management LLC Purchases 8,142 Shares of Oracle Corporation $ORCL

Key Points

• Modern Wealth Management LLC increased its stake in Oracle by 56.3% during the 1st quarter, now owning a total of 22,611 shares valued at approximately $3.16 million.
• Analysts have raised their price targets for Oracle, with estimates now ranging from $221.00 to $350.00, reflecting a general sentiment of a Moderate Buy consensus.
• Oracle recently declared a quarterly dividend of $0.50, with the ex-dividend date set for October 9th, translating to an annualized yield of 0.7%.

Modern Wealth Management LLC raised its position in Oracle Corporation (NYSE:ORCL - Free Report) by 56.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,611 shares of the enterprise software provider's stock after buying an additional 8,142 shares during the quarter. Modern Wealth Management LLC's holdings in Oracle were worth $3,161,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on ORCL shares. Barclays lifted their price target on shares of Oracle from $221.00 to $281.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Piper Sandler lifted their price target on shares of Oracle from $270.00 to $330.00 and gave the company an "overweight" rating in a report on Wednesday. Mizuho lifted their price target on shares of Oracle from $300.00 to $350.00 and gave the company an "outperform" rating in a report on Wednesday. Morgan Stanley lifted their price target on shares of Oracle from $175.00 to $246.00 and gave the company an "equal weight" rating in a report on Monday, September 8th. Finally, Evercore ISI lifted their price target on shares of Oracle from $270.00 to $340.00 and gave the company an "outperform" rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Oracle currently has a consensus rating of "Moderate Buy" and an average target price of $296.84.

Insider Transactions 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 shares were sold at an average price of $254.48, for a total value of $4,041,142.40. Following the transaction, the insider owned 99,212 shares in the company, valued at approximately $25,247,469.76. The trade was a 13.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Naomi O. Seligman sold 3,303 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total transaction of $770,655.96. Following the completion of the transaction, the director owned 31,447 shares in the company, valued at $7,337,214.04. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,183 shares of company stock worth $10,353,198. Company insiders own 42.20% of the company's stock.

Oracle Stock Down 5.1%

NYSE:ORCL opened at $292.07 on Friday. The firm's 50 day simple moving average is $244.69 and its 200 day simple moving average is $190.37. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.75. Oracle Corporation has a one year low of $118.86 and a one year high of $345.72. The company has a market cap of $820.38 billion, a PE ratio of 67.61, a P/E/G ratio of 4.10 and a beta of 1.46.

Oracle (NYSE:ORCL - Get Free Report) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.08% and a return on equity of 72.93%. 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 company earned $1.63 EPS. The firm's revenue was up 11.3% compared to the same quarter last year. On average, research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th will be given a $0.50 dividend. The ex-dividend date is Thursday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. Oracle's payout ratio is 46.30%.

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.

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