Oracle Corporation $ORCL Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. reduced its stake in Oracle Corporation by 3.5%, now holding 7,199,876 shares valued at approximately $1 billion.
• Insider activity was notable, with two executives selling a combined total of over $6.3 million in shares, indicating significant shifts in ownership.
• Oracle reported a quarterly earnings increase with an earnings per share (EPS) of $1.70, surpassing analyst expectations and showing strong revenue growth of 11.3% year-over-year.

Ameriprise Financial Inc. trimmed its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 3.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,199,876 shares of the enterprise software provider's stock after selling 257,611 shares during the period. Ameriprise Financial Inc. owned about 0.26% of Oracle worth $1,004,198,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Oracle in the 1st quarter valued at approximately $27,000. Inlight Wealth Management LLC purchased a new stake in shares of Oracle in the 1st quarter valued at approximately $28,000. Iron Horse Wealth Management LLC raised its stake in shares of 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 acquiring an additional 151 shares during the period. Sunbeam Capital Management LLC purchased a new stake in shares of Oracle in the 4th quarter valued at approximately $30,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Oracle in the 4th quarter valued at approximately $36,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 completion of the transaction, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael D. Sicilia sold 15,880 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the transaction, the insider owned 99,212 shares of the company's stock, valued at $25,247,469.76. This trade represents a 13.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 444,183 shares of company stock worth $86,521,198 in the last three months. Company insiders own 42.20% of the company's stock.

Wall Street Analyst Weigh In

ORCL has been the topic of a number of research analyst reports. Oppenheimer reissued an "outperform" rating on shares of Oracle in a research note on Wednesday, June 18th. Scotiabank began coverage on shares of Oracle in a research note on Thursday, July 17th. They set a "sector outperform" rating and a $300.00 target price on the stock. Royal Bank Of Canada upped their target price on shares of Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 12th. Bank of America upped their target price on shares of Oracle from $220.00 to $295.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Finally, UBS Group upped their target price on shares of Oracle from $250.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $227.04.

Oracle Stock Performance

Shares of ORCL opened at $235.1560 on Thursday. The company has a 50-day simple moving average of $234.29 and a 200-day simple moving average of $181.88. 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 company has a market capitalization of $660.51 billion, a PE ratio of 54.18, a P/E/G ratio of 3.50 and a beta of 1.43. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $260.87.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 EPS. Equities research analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, July 10th. Oracle's dividend payout ratio (DPR) is 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.

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