Spire Wealth Management Decreases Stock Position in Oracle Corporation (NYSE:ORCL)

Spire Wealth Management lowered its stake in Oracle Corporation (NYSE:ORCL) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,540 shares of the enterprise software provider’s stock after selling 675 shares during the period. Spire Wealth Management’s holdings in Oracle were worth $2,592,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Sunbeam Capital Management LLC bought a new position in Oracle during the 4th quarter valued at approximately $30,000. Hurley Capital LLC bought a new position in Oracle during the 4th quarter valued at approximately $33,000. Inlight Wealth Management LLC bought a new position in Oracle during the 1st quarter valued at approximately $28,000. Synergy Investment Management LLC bought a new position in Oracle during the 4th quarter valued at approximately $34,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Oracle during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Stock Down 2.2%

ORCL stock opened at $210.54 on Thursday. The business has a 50 day moving average of $165.09 and a 200 day moving average of $161.98. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $216.93. The firm has a market cap of $591.37 billion, a PE ratio of 48.51, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32.

Oracle (NYSE:ORCL) last issued its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same period last year, the business posted $1.63 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. On average, research analysts forecast that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.95%. Oracle’s dividend payout ratio is 46.08%.

Insider Buying and Selling at Oracle

In related news, Director Naomi O. Seligman sold 2,000 shares of Oracle stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $145.81, for a total value of $291,620.00. Following the completion of the sale, the director now owns 34,630 shares of the company’s stock, valued at $5,049,400.30. The trade was a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leon E. Panetta sold 5,000 shares of Oracle stock in a transaction on Friday, April 11th. The stock was sold at an average price of $129.77, for a total value of $648,850.00. Following the completion of the sale, the director now directly owns 58,090 shares of the company’s stock, valued at $7,538,339.30. The trade was a 7.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 442,366 shares of company stock worth $83,395,223. Insiders own 42.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ORCL shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Oracle in a research report on Wednesday, June 18th. Guggenheim upped their price target on Oracle from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. Cowen reaffirmed a “buy” rating on shares of Oracle in a research report on Thursday, June 12th. Citigroup reaffirmed an “outperform” rating on shares of Oracle in a research report on Thursday, June 12th. Finally, JPMorgan Chase & Co. increased their target price on Oracle from $135.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, June 12th. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and an average target price of $197.67.

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.