Smartleaf Asset Management LLC Buys 1,119 Shares of Oracle Corporation $ORCL

Key Points

• Smartleaf Asset Management LLC increased its stake in Oracle Corporation by 5.9%, holding a total of 19,959 shares valued at approximately $2.81 million after purchasing an additional 1,119 shares.
• Oracle's quarterly earnings exceeded expectations, reporting $1.70 EPS and a revenue of $15.90 billion, marking an 11.3% increase from the previous year.
• Several analysts have recently raised their price targets for Oracle stock, with JMP Securities projecting a target of $315.00, indicating a bullish outlook on the company's future performance.

Smartleaf Asset Management LLC increased its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,959 shares of the enterprise software provider's stock after acquiring an additional 1,119 shares during the period. Smartleaf Asset Management LLC's holdings in Oracle were worth $2,812,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Bahl & Gaynor Inc. lifted its stake in Oracle by 35.5% in the 1st quarter. Bahl & Gaynor Inc. now owns 253,948 shares of the enterprise software provider's stock worth $35,504,000 after acquiring an additional 66,486 shares in the last quarter. Westwood Wealth Management increased its position in Oracle by 29.2% in the 1st quarter. Westwood Wealth Management now owns 6,975 shares of the enterprise software provider's stock worth $975,000 after purchasing an additional 1,575 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Oracle by 131.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 409,888 shares of the enterprise software provider's stock worth $57,306,000 after purchasing an additional 232,647 shares during the last quarter. Heritage Wealth Partners LLC increased its position in Oracle by 82.1% in the 1st quarter. Heritage Wealth Partners LLC now owns 2,652 shares of the enterprise software provider's stock worth $371,000 after purchasing an additional 1,196 shares during the last quarter. Finally, Sax Wealth Advisors LLC increased its position in Oracle by 2.8% in the 1st quarter. Sax Wealth Advisors LLC now owns 4,097 shares of the enterprise software provider's stock worth $573,000 after purchasing an additional 110 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Stock Performance

ORCL traded up $3.0070 during midday trading on Friday, reaching $236.1670. The company's stock had a trading volume of 9,333,223 shares, compared to its average volume of 10,425,400. The stock has a market cap of $663.35 billion, a P/E ratio of 54.42, a PEG ratio of 3.53 and a beta of 1.43. The company has a fifty day simple moving average of $235.36 and a 200 day simple moving average of $182.94. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $260.87.

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 for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%.The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter last year, the firm earned $1.63 EPS. Oracle's revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts expect 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. Stockholders of record on Thursday, July 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's dividend payout ratio (DPR) is presently 46.08%.

Analysts Set New Price Targets

Several research analysts have weighed in on ORCL shares. Jefferies Financial Group upped their target price on Oracle from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Scotiabank started coverage on Oracle in a research report on Thursday, July 17th. They issued a "sector outperform" rating and a $300.00 target price on the stock. Mizuho upped their target price on Oracle from $245.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $240.00 price objective (up previously from $200.00) on shares of Oracle in a report on Thursday, June 12th. Finally, BMO Capital Markets increased their price objective on Oracle from $235.00 to $245.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Oracle has a consensus rating of "Moderate Buy" and a consensus target price of $227.04.

Insider Activity at Oracle

In other news, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the sale, the insider owned 99,212 shares of the company's stock, valued at approximately $25,247,469.76. This trade represents a 13.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the sale, the executive vice president directly owned 40,807 shares in the company, valued at $9,507,622.93. The trade was a 19.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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.

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.