Family Legacy Inc. Sells 384 Shares of Oracle Corporation (NYSE:ORCL)

Family Legacy Inc. lowered its position in Oracle Corporation (NYSE:ORCL) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,368 shares of the enterprise software provider’s stock after selling 384 shares during the period. Oracle makes up approximately 1.5% of Family Legacy Inc.’s investment portfolio, making the stock its 24th biggest holding. Family Legacy Inc.’s holdings in Oracle were worth $4,386,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sunbeam Capital Management LLC purchased a new position in Oracle during the fourth quarter valued at approximately $30,000. Hurley Capital LLC acquired a new stake in shares of Oracle during the fourth quarter worth $33,000. Inlight Wealth Management LLC acquired a new stake in shares of Oracle during the first quarter worth $28,000. Synergy Investment Management LLC acquired a new stake in shares of Oracle during the fourth quarter worth $34,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Oracle during the fourth quarter worth $36,000. Institutional investors own 42.44% of the company’s stock.

Insiders Place Their Bets

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of Oracle stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider now directly owns 1,097,576 shares of the company’s stock, valued at $209,000,421.92. The trade was a 26.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the transaction, the insider now owns 60,722 shares in the company, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 442,366 shares of company stock valued at $83,395,223. 42.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of research reports. UBS Group restated a “buy” rating and set a $225.00 target price (up from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $240.00 price objective (up previously from $200.00) on shares of Oracle in a research report on Thursday, June 12th. The Goldman Sachs Group restated a “neutral” rating and set a $195.00 price target (up previously from $145.00) on shares of Oracle in a research report on Friday, June 13th. JMP Securities set a $240.00 target price on shares of Oracle and gave the company a “market outperform” rating in a research report on Thursday, June 12th. Finally, KeyCorp increased their target price on shares of Oracle from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, June 12th. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.74.

Oracle Trading Up 0.9%

NYSE ORCL opened at $207.08 on Tuesday. The firm has a 50 day simple moving average of $161.85 and a 200-day simple moving average of $161.26. 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 Corporation has a one year low of $118.86 and a one year high of $216.60. The firm has a market cap of $581.65 billion, a price-to-earnings ratio of 47.71, a PEG ratio of 3.08 and a beta of 1.32.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The company had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. Equities research analysts anticipate that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.97%. Oracle’s 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.