Summit Financial LLC Raises Stock Holdings in Oracle Corporation $ORCL

Key Points

• Summit Financial LLC increased its stake in Oracle Corporation by 9.6%, owning a total of 40,372 shares worth approximately $5,644,000 as of the latest reporting period.
• Insider selling was reported, with Vice Chairman Jeffrey Henley selling 400,000 shares valued at over $76 million, reflecting a 26.71% decrease in his ownership.
• Oracle recently declared a quarterly dividend of $0.50 per share, with an annualized dividend yield of 0.9% and a payout ratio of 46.08%.

Summit Financial LLC increased its position in Oracle Corporation (NYSE:ORCL - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,372 shares of the enterprise software provider's stock after purchasing an additional 3,531 shares during the period. Summit Financial LLC's holdings in Oracle were worth $5,644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in Oracle in the first quarter worth $27,000. Inlight Wealth Management LLC purchased a new stake in Oracle in the first quarter worth $28,000. Iron Horse Wealth Management LLC grew its stake in Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after purchasing an additional 151 shares during the period. Sunbeam Capital Management LLC purchased a new stake in shares of Oracle in the fourth quarter worth $30,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Oracle in the fourth quarter worth $36,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Oracle news, Vice Chairman Jeffrey Henley sold 400,000 shares of the 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 owned 1,097,576 shares of the company's stock, valued at approximately $209,000,421.92. This represents a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maria Smith sold 10,000 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the transaction, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents 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 valued at $86,521,198 in the last 90 days. Insiders own 42.20% of the company's stock.

Oracle Trading Down 0.9%

Shares of NYSE:ORCL opened at $233.0010 on Friday. The company has a market cap of $654.46 billion, a P/E ratio of 53.69, a PEG ratio of 3.51 and a beta of 1.43. 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 1 year low of $118.86 and a 1 year high of $260.87. The stock's fifty day moving average price is $234.95 and its 200-day moving average price is $182.32.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. The firm had revenue of $15.90 billion for 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 company's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. Sell-side analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's dividend payout ratio is presently 46.08%.

Analyst Ratings Changes

ORCL has been the topic of a number of recent research reports. Roth Capital reissued a "hold" rating on shares of Oracle in a research note on Wednesday, June 18th. KeyCorp increased their target price on Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. JMP Securities increased their target price on Oracle from $240.00 to $315.00 and gave the stock a "market outperform" rating in a research note on Friday, July 18th. Oppenheimer reissued an "outperform" rating on shares of Oracle in a research note on Wednesday, June 18th. Finally, Cowen reissued a "buy" rating on shares of Oracle in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Oracle currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.04.

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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