NorthRock Partners LLC Buys 1,402 Shares of Oracle Corporation (NYSE:ORCL)

Key Points

• NorthRock Partners LLC increased its holdings in Oracle Corporation to 32,891 shares, valued at approximately $4.60 million, after buying an additional 1,402 shares in the first quarter.
• Oracle reported earnings of $1.70 per share for the most recent quarter, exceeding analyst expectations, with revenues increasing 11.3% year-over-year to $15.90 billion.
• The company announced a quarterly dividend of $0.50, reflecting a 0.80% yield, and has a dividend payout ratio of 46.08%.

NorthRock Partners LLC raised its position in Oracle Corporation (NYSE:ORCL - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 32,891 shares of the enterprise software provider's stock after buying an additional 1,402 shares during the period. NorthRock Partners LLC's holdings in Oracle were worth $4,599,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ORCL. Brighton Jones LLC boosted its position in shares of Oracle by 189.3% in the 4th quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider's stock worth $25,593,000 after purchasing an additional 100,494 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Oracle by 8.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider's stock worth $903,000 after buying an additional 404 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Oracle by 200.4% during the fourth quarter. Wellington Management Group LLP now owns 172,483 shares of the enterprise software provider's stock worth $28,743,000 after buying an additional 115,059 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in Oracle by 128.3% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 36,525 shares of the enterprise software provider's stock worth $6,087,000 after acquiring an additional 20,527 shares during the last quarter. Finally, Gibson Capital LLC boosted its position in shares of Oracle by 4.7% during the fourth quarter. Gibson Capital LLC now owns 2,320 shares of the enterprise software provider's stock worth $387,000 after purchasing an additional 105 shares in the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup raised shares of Oracle from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 18th. Evercore ISI boosted their price objective on shares of Oracle from $215.00 to $270.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Royal Bank Of Canada boosted their price objective on shares of Oracle from $145.00 to $195.00 and gave the company a "sector perform" rating in a research report on Thursday, June 12th. Piper Sandler raised shares of Oracle from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $190.00 to $270.00 in a research report on Thursday, July 10th. Finally, Loop Capital set a $135.00 price target on Oracle in a report on Tuesday, June 10th. 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. Based on data from MarketBeat, Oracle has a consensus rating of "Moderate Buy" and a consensus target price of $218.29.

Oracle Stock Performance

Shares of ORCL traded up $0.56 during trading hours on Wednesday, hitting $250.54. The company had a trading volume of 8,386,083 shares, compared to its average volume of 11,441,882. The firm has a market cap of $703.72 billion, a price-to-earnings ratio of 57.73, a PEG ratio of 3.73 and a beta of 1.39. The business has a fifty day moving average of $209.84 and a 200-day moving average of $173.44. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $253.07. 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 (NYSE:ORCL - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The firm had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The business's revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. Equities analysts anticipate that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The company also recently announced 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 0.80%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's dividend payout ratio is currently 46.08%.

Insider Activity at Oracle

In other news, Director Naomi O. Seligman sold 3,303 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total transaction of $770,655.96. Following the transaction, the director directly owned 31,447 shares of the company's stock, valued at approximately $7,337,214.04. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the insider owned 1,097,576 shares in the company, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 448,669 shares of company stock valued at $85,555,309. 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.