Oracle Corporation $ORCL Position Cut by Strive Asset Management LLC

Key Points

• Strive Asset Management LLC reduced its holdings in Oracle Corporation by 20.2%, now owning 5,516 shares worth approximately $771,000 after selling 1,393 shares in the first quarter.
• Oracle recently announced a quarterly dividend of $0.50 per share, which will be paid on October 23rd, representing an annualized yield of 0.8%.
• Analysts have set new price targets for Oracle, with estimates ranging from $170.00 to $325.00, reflecting a consensus rating of "Moderate Buy."

Strive Asset Management LLC reduced its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 20.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,516 shares of the enterprise software provider's stock after selling 1,393 shares during the period. Strive Asset Management LLC's holdings in Oracle were worth $771,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ORCL. Clarkston Capital Partners LLC increased its position in Oracle by 1.1% during the 1st quarter. Clarkston Capital Partners LLC now owns 6,290 shares of the enterprise software provider's stock worth $879,000 after purchasing an additional 68 shares in the last quarter. Tacita Capital Inc increased its position in Oracle by 6.0% during the 1st quarter. Tacita Capital Inc now owns 1,245 shares of the enterprise software provider's stock worth $174,000 after purchasing an additional 70 shares in the last quarter. Flynn Zito Capital Management LLC increased its position in Oracle by 1.7% during the 1st quarter. Flynn Zito Capital Management LLC now owns 4,333 shares of the enterprise software provider's stock worth $606,000 after purchasing an additional 71 shares in the last quarter. Tiller Private Wealth Inc. grew its position in Oracle by 4.6% in the first quarter. Tiller Private Wealth Inc. now owns 1,599 shares of the enterprise software provider's stock valued at $224,000 after acquiring an additional 71 shares in the last quarter. Finally, Cadence Bank grew its position in Oracle by 1.0% in the first quarter. Cadence Bank now owns 7,440 shares of the enterprise software provider's stock valued at $1,040,000 after acquiring an additional 71 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Stock Down 5.1%

Shares of ORCL stock traded down $15.79 during mid-day trading on Friday, reaching $292.07. 51,618,969 shares of the company were exchanged, compared to its average volume of 20,941,788. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $345.72. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.75 and a current ratio of 0.62. The company has a market capitalization of $820.38 billion, a P/E ratio of 67.61, a P/E/G ratio of 4.10 and a beta of 1.46. The business's 50 day simple moving average is $244.69 and its 200 day simple moving average is $190.37.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 72.93% and a net margin of 21.08%.The firm had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. During the same period last year, the business posted $1.63 earnings per share. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, October 9th. This represents a $2.00 annualized dividend and a yield of 0.7%. Oracle's dividend payout ratio (DPR) is 46.30%.

Analyst Ratings Changes

Several analysts have issued reports on ORCL shares. Stifel Nicolaus increased their price objective on shares of Oracle from $250.00 to $350.00 and gave the company a "buy" rating in a research report on Wednesday. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Oracle in a research report on Wednesday, June 18th. JMP Securities increased their price objective on shares of Oracle from $315.00 to $342.00 and gave the company a "market outperform" rating in a research report on Wednesday. Scotiabank reaffirmed an "outperform" rating on shares of Oracle in a research report on Wednesday. Finally, KeyCorp increased their price objective on shares of Oracle from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Oracle currently has a consensus rating of "Moderate Buy" and a consensus price target of $296.84.

Insider Activity

In related news, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the transaction, the executive vice president directly owned 40,807 shares in the company, valued at $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rona Alison Fairhead acquired 480 shares of Oracle stock in a transaction that occurred on Monday, July 7th. The shares were purchased at an average price of $233.87 per share, for a total transaction of $112,257.60. Following the completion of the purchase, the director directly owned 22,110 shares of the company's stock, valued at $5,170,865.70. The trade was a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 44,183 shares of company stock valued at $10,353,198 over the last three months. 42.20% of the stock is currently owned by company insiders.

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.