Capital Investment Counsel Inc Raises Position in Oracle Corporation (NYSE:ORCL)

Capital Investment Counsel Inc increased its holdings in Oracle Corporation (NYSE:ORCL) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,163 shares of the enterprise software provider’s stock after purchasing an additional 3,874 shares during the period. Oracle accounts for 0.8% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 23rd biggest position. Capital Investment Counsel Inc’s holdings in Oracle were worth $5,475,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ORCL. Latitude Advisors LLC grew its position in Oracle by 9.3% in the first quarter. Latitude Advisors LLC now owns 2,716 shares of the enterprise software provider’s stock valued at $380,000 after acquiring an additional 232 shares in the last quarter. Revisor Wealth Management LLC purchased a new stake in Oracle during the 1st quarter worth $287,000. Novem Group increased its stake in Oracle by 58.5% during the 1st quarter. Novem Group now owns 4,659 shares of the enterprise software provider’s stock worth $651,000 after buying an additional 1,720 shares during the period. Weaver Consulting Group lifted its holdings in Oracle by 3.4% in the 1st quarter. Weaver Consulting Group now owns 2,501 shares of the enterprise software provider’s stock worth $350,000 after buying an additional 83 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in Oracle by 7.3% in the 1st quarter. Private Trust Co. NA now owns 29,647 shares of the enterprise software provider’s stock valued at $4,145,000 after buying an additional 2,016 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Oracle news, Director Leon E. Panetta sold 17,500 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $151.24, for a total value of $2,646,700.00. Following the transaction, the director directly owned 58,090 shares in the company, valued at $8,785,531.60. The trade was a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the sale, the insider directly owned 1,097,576 shares of the company’s stock, valued at approximately $209,000,421.92. The trade was a 26.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 440,366 shares of company stock valued at $83,103,603. 42.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler restated a “neutral” rating and set a $130.00 price objective on shares of Oracle in a research note on Wednesday, June 11th. Citigroup reiterated an “outperform” rating on shares of Oracle in a research note on Thursday, June 12th. Loop Capital set a $135.00 target price on shares of Oracle in a report on Tuesday, June 10th. Morgan Stanley reiterated an “overweight” rating on shares of Oracle in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. upped their target price on Oracle from $135.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, June 12th. Ten equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Oracle currently has an average rating of “Moderate Buy” and an average price target of $200.63.

Oracle Stock Up 5.3%

NYSE ORCL opened at $230.55 on Thursday. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $231.90. The stock has a market cap of $647.58 billion, a PE ratio of 53.12, a PEG ratio of 3.28 and a beta of 1.39. The firm has a 50-day simple moving average of $174.16 and a 200 day simple moving average of $163.33. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion during 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% on a year-over-year basis. During the same quarter last year, the company earned $1.63 EPS. On average, research analysts forecast that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.87%. Oracle’s dividend payout ratio is currently 46.08%.

About Oracle

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.