Oracle Corporation (NYSE:ORCL) Shares Acquired by Meridian Wealth Management LLC

Key Points

• Meridian Wealth Management LLC increased its stake in Oracle Corporation by 14.9%, acquiring an additional 6,166 shares to own a total of 47,644 shares worth approximately $6.66 million.
• Insiders at Oracle sold a total of 444,183 shares in the last ninety days, with notable transactions including Clayton M. Magouyrk selling 15,000 shares and Vice Chairman Jeffrey Henley selling 400,000 shares.
• Equities analysts have recently raised their price targets for Oracle, with Guggenheim and Evercore ISI increasing their objectives to $250.00 and $270.00, respectively, indicating a positive outlook on the stock.

Meridian Wealth Management LLC increased its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 14.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,644 shares of the enterprise software provider's stock after acquiring an additional 6,166 shares during the quarter. Meridian Wealth Management LLC's holdings in Oracle were worth $6,661,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sunbeam Capital Management LLC acquired a new position in shares of Oracle in the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC acquired a new position in shares of Oracle in the 1st quarter valued at $27,000. Inlight Wealth Management LLC purchased a new position in Oracle in the 1st quarter valued at $28,000. Iron Horse Wealth Management LLC grew its position 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 last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in Oracle in the 4th quarter valued at $36,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Oracle

In related news, insider Clayton M. Magouyrk sold 15,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. The trade was a 19.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the completion of the transaction, the insider directly owned 1,097,576 shares of the company's stock, valued at $209,000,421.92. The trade was a 26.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 444,183 shares of company stock worth $86,521,198 in the last ninety days. Company insiders own 42.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ORCL shares. Guggenheim lifted their price objective on shares of Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Piper Sandler upgraded shares of Oracle from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $190.00 to $270.00 in a research report on Thursday, July 10th. Loop Capital set a $135.00 price objective on shares of Oracle in a research report on Tuesday, June 10th. Evercore ISI lifted 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $240.00 price objective (up from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Nine 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 stock. According to MarketBeat.com, Oracle presently has an average rating of "Moderate Buy" and an average target price of $222.75.

Oracle Price Performance

Oracle stock opened at $250.04 on Monday. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $260.87. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The firm's 50-day simple moving average is $222.64 and its 200 day simple moving average is $177.75. The firm has a market capitalization of $702.32 billion, a PE ratio of 57.61, a P/E/G ratio of 3.73 and a beta of 1.43.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data 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 21.68% and a return on equity of 87.34%. The business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the firm earned $1.63 EPS. The business's revenue for the quarter 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 fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.8%. Oracle's payout ratio is presently 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.

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