Cornerstone Advisors LLC Raises Stock Holdings in Oracle Corporation (NYSE:ORCL)

Key Points

• Cornerstone Advisors LLC increased its stake in Oracle Corporation by 12.5% in the first quarter, now owning 99,000 shares valued at approximately $13.84 million.
• Oracle recently reported earnings per share of $1.70, exceeding estimates of $1.64, with revenues of $15.90 billion for the quarter.
• The company announced a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 0.8%.

Cornerstone Advisors LLC increased its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,000 shares of the enterprise software provider's stock after buying an additional 11,000 shares during the quarter. Cornerstone Advisors LLC's holdings in Oracle were worth $13,841,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new position in Oracle in the first quarter worth $27,000. Inlight Wealth Management LLC purchased a new stake in Oracle during the first quarter worth about $28,000. Iron Horse Wealth Management LLC boosted its stake in 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 acquiring an additional 151 shares during the last quarter. Sunbeam Capital Management LLC bought a new position in shares of Oracle during the 4th quarter valued at approximately $30,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Oracle in the 4th quarter worth approximately $36,000. 42.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ORCL has been the subject of several research reports. The Goldman Sachs Group reissued a "neutral" rating and set a $195.00 price objective (up from $145.00) on shares of Oracle in a report on Friday, June 13th. DA Davidson boosted their price target on shares of Oracle from $140.00 to $170.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. Roth Capital reaffirmed a "hold" rating on shares of Oracle in a research note on Wednesday, June 18th. Jefferies Financial Group increased their price target on shares of Oracle from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, JMP Securities lifted their target price on shares of Oracle from $240.00 to $315.00 and gave the stock a "market outperform" rating in a research report on Friday, July 18th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $222.75.

Insider Buying and Selling

In other Oracle news, insider Clayton M. Magouyrk sold 15,000 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rona Alison Fairhead purchased 480 shares of the business's stock in a transaction on Monday, July 7th. The shares were purchased at an average price of $233.87 per share, with a total value of $112,257.60. Following the completion of the purchase, the director owned 22,110 shares in the company, valued at approximately $5,170,865.70. This trade represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 428,303 shares of company stock valued at $82,480,056 over the last ninety days. 42.20% of the stock is owned by insiders.

Oracle Stock Up 0.3%

Shares of ORCL stock traded up $0.85 during mid-day trading on Wednesday, hitting $256.52. The company's stock had a trading volume of 9,919,562 shares, compared to its average volume of 10,380,186. The stock has a market cap of $720.51 billion, a price-to-earnings ratio of 59.11, a PEG ratio of 3.81 and a beta of 1.43. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $260.87. The business has a 50-day moving average price of $217.36 and a 200 day moving average price of $176.15.

Oracle (NYSE:ORCL - Get Free Report) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The business had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter in the prior year, the business earned $1.63 EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.8%. Oracle's payout ratio is presently 46.08%.

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.