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

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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Members Trust Co increased its holdings in shares of Oracle by 16.5% during the first quarter. Members Trust Co now owns 2,889 shares of the enterprise software provider’s stock valued at $404,000 after acquiring an additional 410 shares in the last quarter. Graypoint LLC increased its holdings in shares of Oracle by 6.0% during the first quarter. Graypoint LLC now owns 16,708 shares of the enterprise software provider’s stock valued at $2,336,000 after acquiring an additional 948 shares in the last quarter. Ascent Wealth Partners LLC increased its holdings in shares of Oracle by 1.8% during the first quarter. Ascent Wealth Partners LLC now owns 66,591 shares of the enterprise software provider’s stock valued at $9,310,000 after acquiring an additional 1,158 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Oracle by 31.1% during the first quarter. Verdence Capital Advisors LLC now owns 49,646 shares of the enterprise software provider’s stock valued at $6,941,000 after acquiring an additional 11,765 shares in the last quarter. Finally, Napatree Capital LLC increased its holdings in shares of Oracle by 40.4% during the first quarter. Napatree Capital LLC now owns 1,832 shares of the enterprise software provider’s stock valued at $256,000 after acquiring an additional 527 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ORCL. Stephens began coverage on Oracle in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $167.00 price objective for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $195.00 price objective (up from $145.00) on shares of Oracle in a report on Friday, June 13th. KeyCorp lifted their price objective on Oracle from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, June 12th. Morgan Stanley reiterated an “overweight” rating on shares of Oracle in a report on Wednesday, June 18th. Finally, TD Cowen lifted their price objective on Oracle from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.54.

Insider Buying and Selling

In related news, Director Naomi O. Seligman sold 2,866 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the transaction, the director directly owned 31,764 shares of the company’s stock, valued at approximately $4,749,670.92. The trade was a 8.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider directly owned 60,722 shares in the company, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 445,366 shares of company stock worth $84,784,653 in the last quarter. 42.20% of the stock is owned by insiders.

Oracle Price Performance

Shares of NYSE:ORCL opened at $241.25 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 $244.10. The company has a market capitalization of $677.64 billion, a P/E ratio of 55.59, a P/E/G ratio of 3.51 and a beta of 1.39. The firm’s 50 day simple moving average is $192.33 and its two-hundred day simple moving average is $167.83.

Oracle (NYSE:ORCL) last posted 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 for the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the previous year, the firm earned $1.63 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. Research analysts expect that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

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 is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.83%. Oracle’s dividend payout ratio is presently 46.08%.

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.