Elgethun Capital Management Buys 1,950 Shares of Oracle Corporation (NYSE:ORCL)

Key Points

• Elgethun Capital Management increased its holdings in Oracle Corporation by 183.6% during the first quarter, owning 3,012 shares valued at $421,000.
• Oracle reported a quarterly earnings per share of $1.70, exceeding analysts' expectations, and achieved a net revenue of $15.90 billion, an 11.3% increase year-over-year.
• The company recently announced a quarterly dividend of $0.50 per share, yielding an annualized dividend of 0.8% with a payout ratio of 46.08%.

Elgethun Capital Management lifted its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 183.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,012 shares of the enterprise software provider's stock after purchasing an additional 1,950 shares during the period. Elgethun Capital Management's holdings in Oracle were worth $421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ORCL. Sunbeam Capital Management LLC bought a new position in Oracle in the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Oracle in the first quarter worth $27,000. Inlight Wealth Management LLC purchased a new position in shares of Oracle in the first quarter valued at $28,000. Iron Horse Wealth Management LLC raised its stake in shares of Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock valued at $29,000 after purchasing an additional 151 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Oracle during the 4th quarter worth about $36,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Oracle

In other news, EVP Maria Smith sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the transaction, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the director directly owned 31,447 shares of the company's stock, 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. Insiders sold 444,183 shares of company stock worth $86,521,198 in the last 90 days. Insiders own 42.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ORCL shares. CIBC reiterated a "buy" rating on shares of Oracle in a research report on Monday, June 9th. TD Cowen increased their target price on shares of Oracle from $275.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday. Raymond James Financial restated a "strong-buy" rating on shares of Oracle in a research report on Wednesday, June 18th. Bank of America lifted their price objective on Oracle from $220.00 to $295.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Scotiabank began coverage on Oracle in a report on Thursday, July 17th. They issued a "sector outperform" rating and a $300.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $222.75.

Oracle Stock Down 2.7%

Shares of NYSE:ORCL traded down $7.05 during midday trading on Thursday, reaching $249.38. The company's stock had a trading volume of 11,938,634 shares, compared to its average volume of 10,333,115. 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 has a 50 day moving average of $220.94 and a 200-day moving average of $177.32. The firm has a market capitalization of $700.47 billion, a P/E ratio of 57.46, a PEG ratio of 3.83 and a beta of 1.43. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $260.87.

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 for the quarter, topping the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. On average, research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

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