Opes Wealth Management LLC Trims Stock Position in Oracle Corporation (NYSE:ORCL)

Opes Wealth Management LLC lessened its position in shares of Oracle Corporation (NYSE:ORCL) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,286 shares of the enterprise software provider’s stock after selling 111 shares during the quarter. Opes Wealth Management LLC’s holdings in Oracle were worth $320,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Oracle by 189.3% in the fourth quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock valued at $25,593,000 after purchasing an additional 100,494 shares during the period. Revolve Wealth Partners LLC raised its position in Oracle by 8.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock valued at $903,000 after purchasing an additional 404 shares during the period. Virtu Financial LLC purchased a new stake in Oracle in the fourth quarter valued at approximately $309,000. Modern Wealth Management LLC raised its position in Oracle by 130.4% in the fourth quarter. Modern Wealth Management LLC now owns 14,167 shares of the enterprise software provider’s stock valued at $2,535,000 after purchasing an additional 8,018 shares during the period. Finally, TD Asset Management Inc. raised its position in Oracle by 2.0% in the fourth quarter. TD Asset Management Inc. now owns 835,999 shares of the enterprise software provider’s stock valued at $139,311,000 after purchasing an additional 16,326 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Buying and Selling

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the company’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the transaction, the director owned 31,447 shares in the company, valued at $7,337,214.04. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leon E. Panetta sold 17,500 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the completion of the transaction, the director owned 58,090 shares of the company’s stock, valued at $8,785,531.60. This represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 448,669 shares of company stock valued at $85,555,309 over the last ninety days. Company insiders own 42.20% of the company’s stock.

Oracle Stock Performance

NYSE ORCL opened at $242.04 on Thursday. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $251.60. The company has a market capitalization of $679.85 billion, a PE ratio of 55.77, a P/E/G ratio of 3.55 and a beta of 1.39. The company has a fifty day moving average of $201.05 and a two-hundred day moving average of $170.49.

Oracle (NYSE:ORCL) last released its quarterly earnings data 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 company had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Oracle’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Stifel Nicolaus raised Oracle from a “hold” rating to a “buy” rating and boosted their target price for the company from $180.00 to $250.00 in a research report on Monday, June 30th. DA Davidson boosted their target price on Oracle from $140.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, June 12th. Evercore ISI upped their price objective on Oracle from $215.00 to $270.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. Mizuho cut their price objective on Oracle from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada upped their price objective on Oracle from $145.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.29.

Oracle 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.