Strait & Sound Wealth Management LLC Purchases 5,447 Shares of Oracle Corporation $ORCL

Key Points

• Strait & Sound Wealth Management LLC increased its Oracle Corporation stake by 116.9% in Q1, owning 10,106 shares valued at approximately $1.41 million.
• Several hedge funds, including Nuveen LLC and GAMMA Investing LLC, also significantly boosted their holdings in Oracle, reflecting growing institutional interest in the stock.
• Analyst reports indicate a generally positive outlook for Oracle, with many firms raising their price targets and maintaining favorable ratings, leading to an average target price of $227.04.

Strait & Sound Wealth Management LLC lifted its position in Oracle Corporation (NYSE:ORCL - Free Report) by 116.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,106 shares of the enterprise software provider's stock after acquiring an additional 5,447 shares during the quarter. Strait & Sound Wealth Management LLC's holdings in Oracle were worth $1,413,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sunbeam Capital Management LLC bought a new stake in Oracle during the fourth quarter worth approximately $30,000. Redmont Wealth Advisors LLC acquired a new stake in Oracle in the 1st quarter valued at about $27,000. Inlight Wealth Management LLC acquired a new stake in Oracle in the 1st quarter valued at about $28,000. Iron Horse Wealth Management LLC lifted its holdings in 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 last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Oracle during the fourth quarter worth $36,000. Institutional investors and hedge funds own 42.44% of the company's stock.

Oracle Stock Performance

NYSE:ORCL traded up $86.89 during mid-day trading on Wednesday, hitting $328.40. 131,092,718 shares of the company's stock traded hands, compared to its average volume of 12,773,958. The firm has a 50 day moving average of $240.23 and a two-hundred day moving average of $187.60. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $345.72. The firm has a market capitalization of $922.41 billion, a price-to-earnings ratio of 75.67, a price-to-earnings-growth ratio of 3.56 and a beta of 1.46. 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 (NYSE:ORCL - Get Free Report) last announced its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The firm had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%.The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 EPS. On average, equities analysts forecast that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, October 9th. Oracle's dividend payout ratio is 46.08%.

Insider Activity

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of Oracle stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total transaction of $770,655.96. Following the sale, the director directly owned 31,447 shares of the company's stock, valued at approximately $7,337,214.04. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maria Smith sold 10,000 shares of the firm's 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 transaction, the executive vice president owned 40,807 shares of the company's stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 444,183 shares of company stock valued at $86,521,198. 42.20% of the stock is owned by company insiders.

Analyst Ratings Changes

ORCL has been the subject of several analyst reports. Morgan Stanley upped their target price on Oracle from $175.00 to $246.00 and gave the company an "equal weight" rating in a report on Monday. CIBC reaffirmed a "buy" rating on shares of Oracle in a report on Monday, June 9th. Raymond James Financial reissued a "strong-buy" rating on shares of Oracle in a research note on Wednesday, June 18th. Guggenheim increased their price objective on Oracle from $250.00 to $375.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Loop Capital set a $135.00 price target on Oracle in a research note on Tuesday, June 10th. Two equities research 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $291.23.

Oracle Profile

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.