Millstone Evans Group LLC Buys 28,379 Shares of Oracle Corporation (NYSE:ORCL)

Millstone Evans Group LLC grew its stake in Oracle Corporation (NYSE:ORCL) by 628.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,896 shares of the enterprise software provider’s stock after purchasing an additional 28,379 shares during the quarter. Oracle makes up approximately 3.1% of Millstone Evans Group LLC’s holdings, making the stock its 6th biggest holding. Millstone Evans Group LLC’s holdings in Oracle were worth $4,599,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sunbeam Capital Management LLC acquired a new stake in Oracle during the fourth quarter worth about $30,000. Hurley Capital LLC acquired a new stake in Oracle during the fourth quarter worth about $33,000. Redmont Wealth Advisors LLC acquired a new stake in Oracle during the first quarter worth about $27,000. Inlight Wealth Management LLC bought a new position in Oracle in the 1st quarter worth about $28,000. Finally, Iron Horse Wealth Management LLC grew its position in 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 during the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Stock Down 1.4%

Oracle stock opened at $245.30 on Monday. The company has a market capitalization of $689.01 billion, a P/E ratio of 56.52, a P/E/G ratio of 3.66 and a beta of 1.39. The firm’s fifty day simple moving average is $196.21 and its 200-day simple moving average is $168.97. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $251.60.

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, beating analysts’ consensus estimates of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. Oracle’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS. Sell-side analysts forecast that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.82%. Oracle’s dividend payout ratio is currently 46.08%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ORCL shares. Piper Sandler upgraded shares of Oracle from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $190.00 to $270.00 in a research report on Thursday, July 10th. Royal Bank Of Canada upped their target price on shares of Oracle from $145.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 12th. KeyCorp upped their target price on shares of Oracle from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. upped their target price on shares of Oracle from $135.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, June 12th. Finally, Westpark Capital upped their target price on shares of Oracle from $195.00 to $246.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.29.

Insiders Place Their Bets

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider directly owned 1,097,576 shares in the company, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Maria Smith sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the completion of the transaction, the executive vice president owned 40,807 shares in the company, valued at $9,507,622.93. The trade was a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 448,669 shares of company stock worth $85,555,309 in the last ninety days. 42.20% of the stock is owned by insiders.

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.