PBMares Wealth Management LLC Reduces Stock Holdings in Oracle Corporation (NYSE:ORCL)

PBMares Wealth Management LLC decreased its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,870 shares of the enterprise software provider's stock after selling 1,553 shares during the quarter. PBMares Wealth Management LLC's holdings in Oracle were worth $1,520,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Vectors Research Management LLC raised its position in Oracle by 29.3% in the first quarter. Vectors Research Management LLC now owns 32,314 shares of the enterprise software provider's stock worth $4,518,000 after acquiring an additional 7,313 shares in the last quarter. Invesco LLC raised its position in Oracle by 7.8% in the first quarter. Invesco LLC now owns 108,388 shares of the enterprise software provider's stock worth $15,154,000 after acquiring an additional 7,865 shares in the last quarter. Retirement Guys Formula LLC purchased a new position in Oracle in the first quarter worth $1,315,000. Sheets Smith Wealth Management purchased a new position in Oracle in the first quarter worth $213,000. Finally, Chevy Chase Trust Holdings LLC raised its position in Oracle by 0.8% in the first quarter. Chevy Chase Trust Holdings LLC now owns 877,829 shares of the enterprise software provider's stock worth $122,729,000 after acquiring an additional 6,995 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler restated a "neutral" rating and issued a $130.00 price target on shares of Oracle in a research report on Wednesday, June 11th. Royal Bank Of Canada raised their price target on Oracle from $145.00 to $195.00 and gave the company a "sector perform" rating in a research report on Thursday, June 12th. Morgan Stanley restated an "overweight" rating on shares of Oracle in a research report on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $240.00 price target (up previously from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Finally, CIBC restated a "buy" rating on shares of Oracle in a research report on Monday, June 9th. Eleven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $197.67.

Oracle Trading Down 1.2%

NYSE:ORCL traded down $2.66 during mid-day trading on Friday, reaching $210.16. The company's stock had a trading volume of 14,120,277 shares, compared to its average volume of 9,949,587. The company's fifty day simple moving average is $168.42 and its two-hundred day simple moving average is $162.36. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $216.93. The stock has a market cap of $590.31 billion, a P/E ratio of 48.42, a P/E/G ratio of 3.19 and a beta of 1.32.

Oracle (NYSE:ORCL - Get Free Report) last issued 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 return on equity of 87.34% and a net margin of 21.68%. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period last year, the company earned $1.63 EPS. The firm's quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts predict that Oracle Corporation will post 5 EPS for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be issued a $0.50 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.95%. Oracle's dividend payout ratio (DPR) is 46.08%.

Insider Transactions at Oracle

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider now directly owns 1,097,576 shares in the company, valued at $209,000,421.92. This trade represents a 26.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Clayton M. Magouyrk sold 15,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was 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 now owns 60,722 shares in the company, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 442,366 shares of company stock worth $83,395,223 in 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.