Cornerstone Wealth Management LLC Boosts Position in Oracle Corporation (NYSE:ORCL)

Cornerstone Wealth Management LLC raised its stake in Oracle Corporation (NYSE:ORCL) by 22.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,348 shares of the enterprise software provider’s stock after buying an additional 1,863 shares during the period. Cornerstone Wealth Management LLC’s holdings in Oracle were worth $1,447,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. grew its position in Oracle by 4.4% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider’s stock valued at $237,000 after acquiring an additional 60 shares in the last quarter. New England Capital Financial Advisors LLC boosted its stake in shares of Oracle by 6.4% in the fourth quarter. New England Capital Financial Advisors LLC now owns 1,061 shares of the enterprise software provider’s stock valued at $177,000 after purchasing an additional 64 shares during the period. Cape ANN Savings Bank grew its holdings in shares of Oracle by 1.1% in the fourth quarter. Cape ANN Savings Bank now owns 5,820 shares of the enterprise software provider’s stock valued at $970,000 after purchasing an additional 65 shares in the last quarter. Greenwood Gearhart Inc. grew its holdings in shares of Oracle by 1.2% in the fourth quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider’s stock valued at $955,000 after purchasing an additional 66 shares in the last quarter. Finally, WorthPointe LLC increased its stake in Oracle by 4.0% during the 4th quarter. WorthPointe LLC now owns 1,734 shares of the enterprise software provider’s stock worth $289,000 after buying an additional 67 shares during the period. 42.44% of the stock is currently owned by institutional investors.

Oracle Stock Performance

NYSE ORCL opened at $210.63 on Thursday. The business has a 50 day moving average price of $157.39 and a 200 day moving average price of $161.16. The company has a market capitalization of $589.13 billion, a P/E ratio of 48.53, a PEG ratio of 3.12 and a beta of 1.32. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $216.60. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 1.02.

Oracle (NYSE:ORCL) last announced its quarterly earnings results 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. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter last year, the business posted $1.63 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts expect that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, July 10th. Oracle’s payout ratio is currently 46.08%.

Analysts Set New Price Targets

Several equities analysts have commented on ORCL shares. Raymond James Financial restated a “strong-buy” rating on shares of Oracle in a research note on Wednesday. Wall Street Zen lowered Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on Oracle from $135.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, June 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $195.00 price objective (up previously from $145.00) on shares of Oracle in a research note on Friday, June 13th. Finally, Piper Sandler restated a “neutral” rating and set a $130.00 target price on shares of Oracle in a research note on Wednesday, June 11th. Eleven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.74.

Insider Buying and Selling at Oracle

In other Oracle news, Director Leon E. Panetta sold 5,000 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $129.77, for a total value of $648,850.00. Following the transaction, the director now directly owns 58,090 shares in the company, valued at approximately $7,538,339.30. This represents a 7.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of Oracle stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the sale, the insider now owns 1,097,576 shares of the company’s stock, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 427,366 shares of company stock valued at $80,183,723 over the last quarter. Corporate insiders own 42.20% of the company’s stock.

Oracle Company 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.