Modern Wealth Management LLC Has $3.16 Million Stake in Oracle Corporation $ORCL

Modern Wealth Management LLC lifted its stake in shares of Oracle Corporation (NYSE:ORCL) by 56.3% during the first quarter, Holdings Channel reports. The fund owned 22,611 shares of the enterprise software provider’s stock after buying an additional 8,142 shares during the quarter. Modern Wealth Management LLC’s holdings in Oracle were worth $3,161,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vista Cima Wealth Management LLC lifted its position in shares of Oracle by 2.6% during the 1st quarter. Vista Cima Wealth Management LLC now owns 4,131 shares of the enterprise software provider’s stock valued at $578,000 after acquiring an additional 106 shares during the period. Silicon Valley Capital Partners lifted its position in shares of Oracle by 782.0% during the 1st quarter. Silicon Valley Capital Partners now owns 69,217 shares of the enterprise software provider’s stock valued at $9,751,000 after acquiring an additional 61,369 shares during the period. Strs Ohio acquired a new position in shares of Oracle during the 1st quarter valued at $108,572,000. GK Wealth Management LLC lifted its position in shares of Oracle by 13.1% during the 1st quarter. GK Wealth Management LLC now owns 5,349 shares of the enterprise software provider’s stock valued at $748,000 after acquiring an additional 620 shares during the period. Finally, Jacobi Capital Management LLC lifted its position in shares of Oracle by 10.8% during the 1st quarter. Jacobi Capital Management LLC now owns 23,887 shares of the enterprise software provider’s stock valued at $3,340,000 after acquiring an additional 2,331 shares during the period. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Stock Performance

NYSE ORCL opened at $292.07 on Friday. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $345.72. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.75. The firm has a market cap of $820.38 billion, a price-to-earnings ratio of 67.61, a PEG ratio of 4.10 and a beta of 1.46. The company has a fifty day moving average price of $244.69 and a 200-day moving average price of $190.37.

Oracle (NYSE:ORCL) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The firm had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th will be paid a $0.50 dividend. The ex-dividend date is Thursday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.7%. Oracle’s dividend payout ratio is presently 46.30%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wolfe Research boosted their target price on shares of Oracle from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley boosted their price target on shares of Oracle from $175.00 to $246.00 and gave the company an “equal weight” rating in a research note on Monday, September 8th. Piper Sandler boosted their price target on shares of Oracle from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday. CIBC restated a “buy” rating on shares of Oracle in a research note on Monday, June 9th. Finally, BMO Capital Markets set a $345.00 price target on shares of Oracle in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Oracle currently has an average rating of “Moderate Buy” and a consensus target price of $296.84.

Insider Transactions at Oracle

In other news, insider Michael D. Sicilia sold 15,880 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total value of $4,041,142.40. Following the completion of the sale, the insider owned 99,212 shares in the company, valued at $25,247,469.76. This represents a 13.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Maria Smith sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 3rd. The stock was 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 directly owned 40,807 shares in the company, valued at $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,183 shares of company stock worth $10,353,198. 42.20% of the stock is owned by insiders.

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.