Riversedge Advisors LLC Buys New Shares in Oracle Corporation (NYSE:ORCL)

by · The Markets Daily

Riversedge Advisors LLC bought a new stake in Oracle Corporation (NYSE:ORCL – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,446 shares of the enterprise software provider’s stock, valued at approximately $202,000.

Several other hedge funds have also made changes to their positions in the stock. Greenwood Gearhart Inc. lifted its stake in Oracle by 1.2% during the fourth quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider’s stock worth $955,000 after purchasing an additional 66 shares during the period. WorthPointe LLC lifted its stake in Oracle by 4.0% during the fourth quarter. WorthPointe LLC now owns 1,734 shares of the enterprise software provider’s stock worth $289,000 after purchasing an additional 67 shares during the period. Stage Harbor Financial LLC lifted its stake in Oracle by 5.0% during the fourth quarter. Stage Harbor Financial LLC now owns 1,433 shares of the enterprise software provider’s stock worth $239,000 after purchasing an additional 68 shares during the period. J. L. Bainbridge & Co. Inc. lifted its stake in Oracle by 5.5% during the fourth quarter. J. L. Bainbridge & Co. Inc. now owns 1,354 shares of the enterprise software provider’s stock worth $226,000 after purchasing an additional 70 shares during the period. Finally, Prestige Wealth Management Group LLC lifted its stake in Oracle by 0.6% during the fourth quarter. Prestige Wealth Management Group LLC now owns 11,288 shares of the enterprise software provider’s stock worth $1,881,000 after purchasing an additional 70 shares during the period. Institutional investors own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ORCL shares. Evercore ISI reaffirmed a “buy” rating on shares of Oracle in a report on Wednesday, June 18th. Cowen reaffirmed a “buy” rating on shares of Oracle in a report on Thursday, June 12th. Citigroup reaffirmed an “outperform” rating on shares of Oracle in a report on Thursday, June 12th. Bank of America raised their price objective on shares of Oracle from $156.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, June 12th. Finally, BMO Capital Markets raised their price objective on shares of Oracle from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Nine analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.33.

View Our Latest Research Report on Oracle

Oracle Stock Down 1.9%

Shares of ORCL stock opened at $230.45 on Friday. 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 1 year low of $118.86 and a 1 year high of $241.44. The firm’s fifty day moving average price is $187.16 and its two-hundred day moving average price is $166.49. The firm has a market capitalization of $647.29 billion, a P/E ratio of 53.10, a PEG ratio of 3.51 and a beta of 1.39.

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, beating the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the business earned $1.63 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

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 paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.87%. Oracle’s dividend payout ratio is presently 46.08%.

Insider Activity at Oracle

In other news, Director Naomi O. Seligman sold 2,866 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $149.53, for a total transaction of $428,552.98. Following the transaction, the director directly owned 31,764 shares in the company, valued at $4,749,670.92. The trade was a 8.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the transaction, the insider owned 60,722 shares in the company, valued at $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 445,366 shares of company stock worth $84,784,653 over the last ninety days. Company insiders own 42.20% of the company’s stock.

Oracle Company Profile

(Free Report)

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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