ARS Wealth Advisors Group LLC cut its stake in shares of Oracle Corporation (NYSE:ORCL – Free Report) by 6.9% during the second quarter, Holdings Channel reports. The firm owned 2,295 shares of the enterprise software provider’s stock after selling 170 shares during the quarter. ARS Wealth Advisors Group LLC’s holdings in Oracle were worth $502,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of ORCL. Brighton Jones LLC raised its position in shares of Oracle by 189.3% during the fourth quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock worth $25,593,000 after purchasing an additional 100,494 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Oracle by 8.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock worth $903,000 after purchasing an additional 404 shares during the period. Woodline Partners LP acquired a new stake in shares of Oracle during the fourth quarter worth $12,264,000. First Heartland Consultants Inc. raised its position in shares of Oracle by 8.7% during the fourth quarter. First Heartland Consultants Inc. now owns 1,762 shares of the enterprise software provider’s stock worth $294,000 after purchasing an additional 141 shares during the period. Finally, Novem Group acquired a new stake in shares of Oracle during the fourth quarter worth $490,000. 42.44% of the stock is owned by institutional investors and hedge funds.
Oracle Price Performance
Shares of NYSE:ORCL opened at $296.67 on Friday. The business has a 50 day moving average price of $250.06 and a 200 day moving average price of $194.11. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $345.72. The company has a market cap of $843.06 billion, a price-to-earnings ratio of 68.67, a PEG ratio of 3.26 and a beta of 1.46. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.33.
Oracle Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, October 9th. This represents a $2.00 annualized dividend and a yield of 0.7%. Oracle’s dividend payout ratio is presently 46.30%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on ORCL. Scotiabank reissued an “outperform” rating on shares of Oracle in a research report on Wednesday, September 10th. Guggenheim upped their price target on Oracle from $250.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Morgan Stanley upped their price target on Oracle from $175.00 to $246.00 and gave the company an “equal weight” rating in a research report on Monday, September 8th. BNP Paribas set a $377.00 price target on Oracle in a research report on Wednesday, September 10th. Finally, Royal Bank Of Canada upped their price target on Oracle from $145.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.44.
Read Our Latest Stock Analysis on Oracle
Insider Activity
In other Oracle news, insider Michael D. Sicilia sold 16,323 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $313.60, for a total value of $5,118,892.80. Following the completion of the transaction, the insider owned 110,094 shares of the company’s stock, valued at $34,525,478.40. This represents a 12.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Clayton M. Magouyrk sold 21,241 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $297.11, for a total value of $6,310,913.51. Following the completion of the transaction, the insider directly owned 78,000 shares of the company’s stock, valued at approximately $23,174,580. This trade represents a 21.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,247 shares of company stock worth $22,090,505 over the last 90 days. Company 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.
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