Legacy Wealth Management LLC MS Trims Position in Oracle Corporation $ORCL

by · The Markets Daily

Legacy Wealth Management LLC MS cut its stake in shares of Oracle Corporation (NYSE:ORCL – Free Report) by 45.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,759 shares of the enterprise software provider’s stock after selling 1,451 shares during the period. Legacy Wealth Management LLC MS’s holdings in Oracle were worth $385,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Oracle by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider’s stock worth $22,498,982,000 after acquiring an additional 3,513,464 shares during the period. Northern Trust Corp grew its position in shares of Oracle by 0.6% during the 1st quarter. Northern Trust Corp now owns 19,741,423 shares of the enterprise software provider’s stock valued at $2,760,048,000 after purchasing an additional 120,889 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Oracle by 0.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,884,524 shares of the enterprise software provider’s stock worth $1,941,195,000 after purchasing an additional 59,164 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Oracle by 20.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider’s stock worth $2,303,858,000 after buying an additional 2,350,448 shares in the last quarter. Finally, Amundi boosted its stake in Oracle by 3.3% during the first quarter. Amundi now owns 12,736,855 shares of the enterprise software provider’s stock valued at $1,749,280,000 after buying an additional 409,691 shares during the period. 42.44% of the stock is currently owned by institutional investors.

Oracle Trading Down 5.1%

ORCL stock opened at $292.07 on Friday. The company has a market capitalization of $820.38 billion, a PE ratio of 67.61, a price-to-earnings-growth ratio of 4.10 and a beta of 1.46. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.75 and a current ratio of 0.62. Oracle Corporation has a one year low of $118.86 and a one year high of $345.72. The company’s 50 day moving average price is $244.69 and its two-hundred day moving average price is $190.37.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The company had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. As a group, analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, October 9th. Oracle’s dividend payout ratio is presently 46.30%.

Insider Activity

In related news, 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $770,655.96. Following the completion of the transaction, the director directly owned 31,447 shares in the company, valued at $7,337,214.04. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,183 shares of company stock valued at $10,353,198. Company insiders own 42.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Oracle in a report on Wednesday, June 18th. Citigroup reissued an “outperform” rating on shares of Oracle in a report on Wednesday. Oppenheimer reaffirmed an “outperform” rating on shares of Oracle in a research note on Wednesday, June 18th. Melius Research lifted their target price on shares of Oracle from $270.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Bank of America raised shares of Oracle from a “neutral” rating to a “buy” rating and increased their price target for the stock from $295.00 to $368.00 in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Oracle has a consensus rating of “Moderate Buy” and a consensus target price of $296.84.

Get Our Latest Analysis on ORCL

Oracle 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.

See Also

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