ProVise Management Group LLC Has $16.28 Million Position in Oracle Corporation (NYSE:ORCL)

Key Points

• ProVise Management Group LLC reduced its stake in Oracle Corporation by 1.2%, owning 116,450 shares valued at approximately $16.3 million, making Oracle its 21st largest holding.
• Oracle's recent quarterly earnings report revealed $1.70 earnings per share, surpassing analysts' expectations, with revenue of $15.90 billion, up 11.3% year-over-year.
• The company declared a quarterly dividend of $0.50, with a 0.8% dividend yield and a payout ratio of 46.08% as of the last quarter.

ProVise Management Group LLC lessened its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,450 shares of the enterprise software provider's stock after selling 1,371 shares during the period. Oracle makes up approximately 1.4% of ProVise Management Group LLC's portfolio, making the stock its 21st largest position. ProVise Management Group LLC's holdings in Oracle were worth $16,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ORCL. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Oracle by 71.6% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock worth $35,984,000 after purchasing an additional 107,404 shares during the last quarter. Rockland Trust Co. lifted its position in shares of Oracle by 4.8% during the 1st quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock worth $1,421,000 after purchasing an additional 467 shares during the last quarter. Calamos Advisors LLC lifted its position in shares of Oracle by 1.5% during the 1st quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock worth $99,445,000 after purchasing an additional 10,426 shares during the last quarter. Cornerstone Advisory LLC lifted its position in shares of Oracle by 34.1% during the 4th quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider's stock worth $2,258,000 after purchasing an additional 3,299 shares during the last quarter. Finally, Peak Retirement Planning Inc. purchased a new stake in shares of Oracle during the 4th quarter worth $211,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Insider Transactions at Oracle

In other Oracle news, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the transaction, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Naomi O. Seligman sold 3,303 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $7,337,214.04. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 431,169 shares of company stock worth $82,908,609 over the last 90 days. Corporate insiders own 42.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ORCL. Mizuho decreased their price objective on shares of Oracle from $210.00 to $180.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Stifel Nicolaus upgraded shares of Oracle from a "hold" rating to a "buy" rating and lifted their price target for the stock from $180.00 to $250.00 in a research note on Monday, June 30th. JPMorgan Chase & Co. lifted their price target on shares of Oracle from $135.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. KeyCorp lifted their price target on shares of Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Finally, BMO Capital Markets lifted their price target on shares of Oracle from $235.00 to $245.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Nine investment 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $218.29.

Oracle Stock Performance

Shares of Oracle stock traded down $9.33 during trading hours on Friday, reaching $244.44. The company's stock had a trading volume of 12,500,927 shares, compared to its average volume of 10,602,974. The company's 50 day simple moving average is $213.55 and its 200 day simple moving average is $174.74. 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 one year low of $118.86 and a one year high of $260.87. The stock has a market cap of $686.59 billion, a P/E ratio of 56.32, a price-to-earnings-growth ratio of 3.79 and a beta of 1.43.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The company 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 firm posted $1.63 EPS. The company's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts expect that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a $0.50 dividend. The ex-dividend date was Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.8%. Oracle's dividend payout ratio (DPR) is currently 46.08%.

Oracle 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.