Redmont Wealth Advisors LLC Makes New Investment in Oracle Corporation (NYSE:ORCL)

Redmont Wealth Advisors LLC purchased a new stake in Oracle Corporation (NYSE:ORCL) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 195 shares of the enterprise software provider’s stock, valued at approximately $27,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new position in Oracle during the 1st quarter valued at about $28,000. Sunbeam Capital Management LLC bought a new position in shares of Oracle during the fourth quarter valued at approximately $30,000. Hurley Capital LLC purchased a new stake in shares of Oracle in the fourth quarter worth approximately $33,000. Synergy Investment Management LLC bought a new stake in shares of Oracle during the 4th quarter worth approximately $34,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Oracle during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ORCL. Cowen restated a “buy” rating on shares of Oracle in a report on Thursday, June 12th. BMO Capital Markets raised shares of Oracle from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $200.00 to $235.00 in a research report on Friday, June 13th. Stifel Nicolaus upgraded Oracle from a “hold” rating to a “buy” rating and boosted their price target for the company from $180.00 to $250.00 in a report on Monday. Bank of America raised their price objective on Oracle from $156.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, June 12th. Finally, Loop Capital set a $135.00 target price on Oracle in a research report on Tuesday, June 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Oracle has a consensus rating of “Moderate Buy” and an average target price of $200.26.

Insider Buying and Selling

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the transaction, the insider directly owned 1,097,576 shares in the company, valued at $209,000,421.92. The trade was a 26.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Clayton M. Magouyrk sold 15,000 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the sale, the insider owned 60,722 shares in the company, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 440,366 shares of company stock worth $83,103,603 over the last ninety days. 42.20% of the stock is owned by corporate insiders.

Oracle Stock Up 0.2%

Shares of ORCL stock opened at $219.12 on Wednesday. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $228.22. The firm has a market capitalization of $615.47 billion, a PE ratio of 50.49, a P/E/G ratio of 3.28 and a beta of 1.39. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s 50-day simple moving average is $172.18 and its 200-day simple moving average is $162.87.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.63 EPS. Equities analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. Oracle’s dividend payout ratio (DPR) is presently 46.08%.

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.