Canopy Partners LLC Increases Stock Position in Oracle Corporation (NYSE:ORCL)

Canopy Partners LLC increased its position in Oracle Corporation (NYSE:ORCL) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,917 shares of the enterprise software provider’s stock after acquiring an additional 74 shares during the period. Canopy Partners LLC’s holdings in Oracle were worth $687,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Redmont Wealth Advisors LLC bought a new position in shares of Oracle during the 1st quarter valued at $27,000. Inlight Wealth Management LLC bought a new position in Oracle in the first quarter valued at about $28,000. Iron Horse Wealth Management LLC boosted its position in Oracle by 284.9% in the first 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. Sunbeam Capital Management LLC bought a new stake in shares of Oracle during the 4th quarter valued at about $30,000. Finally, Hurley Capital LLC bought a new stake in shares of Oracle during the 4th quarter valued at about $33,000. 42.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. CIBC restated a “buy” rating on shares of Oracle in a research report on Monday, June 9th. Cowen reissued a “buy” rating on shares of Oracle in a research report on Thursday, June 12th. Jefferies Financial Group raised their target price on Oracle from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Guggenheim upped their price target on Oracle from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $195.00 price objective (up from $145.00) on shares of Oracle in a research report on Friday, June 13th. Nine investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Oracle presently has an average rating of “Moderate Buy” and a consensus target price of $218.29.

Insider Activity at Oracle

In other news, EVP Maria Smith sold 10,000 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the sale, the executive vice president owned 40,807 shares of the company’s stock, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leon E. Panetta sold 17,500 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the completion of the sale, the director owned 58,090 shares of the company’s stock, valued at $8,785,531.60. This trade represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 448,669 shares of company stock valued at $85,555,309 over the last three months. Corporate insiders own 42.20% of the company’s stock.

Oracle Stock Performance

Oracle stock opened at $247.68 on Tuesday. The company’s 50-day moving average price is $206.18 and its 200-day moving average price is $172.36. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The company has a market cap of $695.69 billion, a PE ratio of 57.07, a price-to-earnings-growth ratio of 3.66 and a beta of 1.39. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $251.60.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) 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 return on equity of 87.34% and a net margin of 21.68%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 earnings per share. On average, equities research analysts forecast that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.81%. Oracle’s dividend payout ratio is presently 46.08%.

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.