Kingsview Wealth Management LLC Grows Position in Oracle Corporation (NYSE:ORCL)

Kingsview Wealth Management LLC raised its holdings in shares of Oracle Corporation (NYSE:ORCL) by 15.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 380,496 shares of the enterprise software provider’s stock after purchasing an additional 49,829 shares during the quarter. Oracle makes up approximately 1.0% of Kingsview Wealth Management LLC’s portfolio, making the stock its 18th largest holding. Kingsview Wealth Management LLC’s holdings in Oracle were worth $53,197,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sunbeam Capital Management LLC purchased a new stake in shares of Oracle in the fourth quarter worth about $30,000. Hurley Capital LLC purchased a new stake in shares of Oracle in the fourth quarter worth about $33,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Oracle in the first quarter worth about $27,000. Inlight Wealth Management LLC purchased a new stake in shares of Oracle in the first quarter worth about $28,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in shares of 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 buying an additional 151 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Stock Performance

Shares of ORCL stock opened at $241.25 on Thursday. The stock has a fifty day moving average of $192.33 and a 200 day moving average of $167.83. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $244.10. The firm has a market capitalization of $677.64 billion, a price-to-earnings ratio of 55.59, a PEG ratio of 3.51 and a beta of 1.39. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping 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 company had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. During the same quarter last year, the firm posted $1.63 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. As a group, research analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle’s payout ratio is 46.08%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ORCL shares. DA Davidson upped their price objective on shares of Oracle from $140.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, June 12th. Loop Capital set a $135.00 price objective on shares of Oracle in a research report on Tuesday, June 10th. Stephens started coverage on shares of Oracle in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $167.00 price objective on the stock. BMO Capital Markets upped their price objective on shares of Oracle from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Cowen restated a “buy” rating on shares of Oracle in a research report on Thursday, June 12th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $214.54.

Insider Buying and Selling

In other Oracle news, Director Naomi O. Seligman sold 2,866 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $149.53, for a total transaction of $428,552.98. Following the completion of the transaction, the director owned 31,764 shares of the company’s stock, valued at approximately $4,749,670.92. This trade represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares of the company’s stock, valued at $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 a total of 445,366 shares of company stock valued at $84,784,653 over the last three months. 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.