Institute for Wealth Management LLC. Sells 671 Shares of Oracle Corporation (NYSE:ORCL)

Institute for Wealth Management LLC. cut its stake in Oracle Corporation (NYSE:ORCL) by 3.3% in the first quarter, Holdings Channel.com reports. The firm owned 19,380 shares of the enterprise software provider’s stock after selling 671 shares during the period. Institute for Wealth Management LLC.’s holdings in Oracle were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of ORCL. Rockland Trust Co. increased its stake in Oracle by 4.8% during the first quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider’s stock valued at $1,421,000 after acquiring an additional 467 shares during the period. Cornerstone Advisory LLC grew its holdings in shares of Oracle by 34.1% during the 4th quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider’s stock worth $2,258,000 after purchasing an additional 3,299 shares in the last quarter. Peak Retirement Planning Inc. bought a new stake in shares of Oracle during the fourth quarter valued at approximately $211,000. Secure Asset Management LLC raised its stake in shares of Oracle by 21.8% in the first quarter. Secure Asset Management LLC now owns 13,235 shares of the enterprise software provider’s stock valued at $1,850,000 after purchasing an additional 2,365 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Oracle in the fourth quarter worth $51,084,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Price Performance

ORCL opened at $210.63 on Thursday. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 1.02. The stock has a market capitalization of $589.13 billion, a P/E ratio of 48.53, a price-to-earnings-growth ratio of 3.12 and a beta of 1.32. The company’s 50 day simple moving average is $157.39 and its 200-day simple moving average is $161.16. Oracle Corporation has a one year low of $118.86 and a one year high of $216.60.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $1.63 EPS. Sell-side analysts anticipate that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company 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. This represents a $2.00 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle’s dividend payout ratio is 46.08%.

Insiders Place Their Bets

In other Oracle news, Director Naomi O. Seligman sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $145.81, for a total value of $291,620.00. Following the transaction, the director now directly owns 34,630 shares of the company’s stock, valued at approximately $5,049,400.30. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leon E. Panetta sold 17,500 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the sale, the director now owns 58,090 shares of the company’s stock, valued at $8,785,531.60. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 427,366 shares of company stock valued at $80,183,723. 42.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ORCL has been the topic of several analyst reports. Royal Bank Of Canada boosted their price target on shares of Oracle from $145.00 to $195.00 and gave the company a “sector perform” rating in a 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 company a “neutral” rating in a research note on Thursday, June 12th. Piper Sandler restated a “neutral” rating and set a $130.00 price target on shares of Oracle in a research note on Wednesday, June 11th. Barclays reiterated an “overweight” rating and issued a $221.00 price objective (up from $202.00) on shares of Oracle in a research note on Friday, June 13th. Finally, Jefferies Financial Group raised their target price on Oracle from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Eleven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and a consensus target price of $196.74.

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.