SteelPeak Wealth LLC Lowers Position in Oracle Corporation (NYSE:ORCL)

SteelPeak Wealth LLC cut its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 36.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,676 shares of the enterprise software provider's stock after selling 5,995 shares during the period. SteelPeak Wealth LLC's holdings in Oracle were worth $1,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Sunbeam Capital Management LLC purchased a new position in shares of Oracle in the fourth quarter valued at about $30,000. Hurley Capital LLC purchased a new position in shares of Oracle in the fourth quarter valued at about $33,000. Redmont Wealth Advisors LLC purchased a new position in shares of Oracle in the first quarter valued at about $27,000. Inlight Wealth Management LLC purchased a new position in shares of Oracle in the first quarter valued at about $28,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Oracle in the fourth quarter valued at about $36,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ORCL shares. Stephens started coverage on Oracle in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $167.00 price objective on the stock. Westpark Capital boosted their target price on Oracle from $195.00 to $246.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. TD Cowen boosted their target price on Oracle from $250.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. UBS Group set a $250.00 target price on Oracle and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $240.00 target price (up from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Oracle has a consensus rating of "Moderate Buy" and an average price target of $209.33.

Insider Activity at Oracle

In other Oracle 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Clayton M. Magouyrk sold 15,000 shares of the firm's stock in a transaction on 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 transaction, the insider owned 60,722 shares in the company, valued at $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 445,366 shares of company stock worth $84,784,653 over the last three months. Corporate insiders own 42.20% of the company's stock.

Oracle Stock Down 1.9%

Shares of ORCL opened at $230.45 on Friday. The firm has a fifty day moving average price of $187.16 and a 200-day moving average price of $166.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The firm has a market capitalization of $647.29 billion, a P/E ratio of 53.10, a P/E/G ratio of 3.51 and a beta of 1.39. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $241.44.

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, beating analysts' consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. Equities 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 will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.87%. Oracle's payout ratio 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.

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