Spirit of America Management Corp NY Buys 1,100 Shares of Oracle Corporation (NYSE:ORCL)

Spirit of America Management Corp NY raised its stake in shares of Oracle Corporation (NYSE:ORCL) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,975 shares of the enterprise software provider’s stock after purchasing an additional 1,100 shares during the period. Spirit of America Management Corp NY’s holdings in Oracle were worth $3,911,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Sunbeam Capital Management LLC bought a new position in Oracle during the 4th quarter worth $30,000. Hurley Capital LLC bought a new position in Oracle during the 4th quarter worth $33,000. Synergy Investment Management LLC bought a new position in Oracle during the 4th quarter worth $34,000. Mpwm Advisory Solutions LLC bought a new position in Oracle during the 4th quarter worth $36,000. Finally, Fourth Dimension Wealth LLC bought a new position in Oracle during the 4th quarter worth $36,000. 42.44% of the stock is owned by institutional investors.

Oracle Price Performance

ORCL stock opened at $210.63 on Friday. The company has a market capitalization of $589.13 billion, a P/E ratio of 48.53, a price-to-earnings-growth ratio of 3.16 and a beta of 1.32. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.02 and a current ratio of 0.75. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $216.60. The business has a 50-day simple moving average of $158.93 and a two-hundred day simple moving average of $161.36.

Oracle (NYSE:ORCL) last released its quarterly earnings results 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. The business had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. Research 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.95%. Oracle’s payout ratio is presently 46.08%.

Analyst Ratings Changes

A number of analysts have weighed in on ORCL shares. Bank of America increased their price target on Oracle from $156.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, June 12th. Royal Bank Of Canada increased their price target on Oracle from $145.00 to $195.00 and gave the stock a “sector perform” rating in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $240.00 price target (up from $200.00) on shares of Oracle in a report on Thursday, June 12th. Roth Capital reiterated a “hold” rating on shares of Oracle in a report on Wednesday. Finally, Jefferies Financial Group increased their price target on Oracle from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Eleven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.74.

Insider Transactions at Oracle

In other news, Director Leon E. Panetta sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $129.77, for a total value of $648,850.00. Following the transaction, the director now owns 58,090 shares in the company, valued at $7,538,339.30. The trade was a 7.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was 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 now owns 1,097,576 shares in the company, valued at $209,000,421.92. The trade was a 26.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 427,366 shares of company stock worth $80,183,723 in the last 90 days. Insiders own 42.20% of the company’s stock.

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.