Lokken Investment Group LLC Cuts Position in Oracle Corporation (NYSE:ORCL)

Lokken Investment Group LLC cut its stake in Oracle Corporation (NYSE:ORCL) by 5.5% during the first quarter, HoldingsChannel reports. The fund owned 2,113 shares of the enterprise software provider’s stock after selling 124 shares during the quarter. Lokken Investment Group LLC’s holdings in Oracle were worth $295,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new position in shares of Oracle in the 4th quarter valued at $30,000. Hurley Capital LLC purchased a new position in shares of Oracle in the 4th quarter valued at $33,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Oracle in the 1st quarter worth $27,000. Inlight Wealth Management LLC acquired a new stake in shares of Oracle in the 1st quarter worth $28,000. Finally, Iron Horse Wealth Management LLC boosted its position in shares of Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after purchasing an additional 151 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Maria Smith sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the transaction, the executive vice president owned 40,807 shares of the company’s stock, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the company’s stock in a transaction dated 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 directly owned 1,097,576 shares of the company’s stock, 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 a total of 445,366 shares of company stock worth $84,784,653 in the last ninety days. 42.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ORCL. KeyCorp raised their price objective on Oracle from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, June 12th. CIBC reissued a “buy” rating on shares of Oracle in a research report on Monday, June 9th. TD Cowen raised their price objective on Oracle from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. Stephens began coverage on Oracle in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $167.00 price objective for the company. Finally, BMO Capital Markets raised their price objective on Oracle from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Nine investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.33.

Oracle Stock Performance

Shares of ORCL stock opened at $230.45 on Monday. The stock has a market cap of $647.29 billion, a PE ratio of 53.10, a price-to-earnings-growth ratio of 3.45 and a beta of 1.39. The business has a 50-day simple moving average of $187.16 and a 200-day simple moving average of $166.42. 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 Corporation has a 52-week low of $118.86 and a 52-week high of $241.44.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. Oracle’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 EPS. On average, equities analysts expect that Oracle Corporation will post 5 EPS 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 issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.87%. Oracle’s payout ratio is 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.