Linscomb Wealth Inc. Raises Stake in Oracle Corporation (NYSE:ORCL)

Linscomb Wealth Inc. increased its stake in Oracle Corporation (NYSE:ORCL) by 18.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 44,376 shares of the enterprise software provider’s stock after buying an additional 6,947 shares during the period. Linscomb Wealth Inc.’s holdings in Oracle were worth $6,204,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new stake in Oracle during the fourth quarter valued at about $30,000. Redmont Wealth Advisors LLC purchased a new stake in Oracle during the first quarter valued at about $27,000. Inlight Wealth Management LLC purchased a new stake in Oracle during the first quarter valued at about $28,000. Iron Horse Wealth Management LLC lifted its holdings in Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock valued at $29,000 after purchasing an additional 151 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Oracle during the fourth quarter valued at about $36,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ORCL shares. UBS Group upped their price objective on shares of Oracle from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Morgan Stanley reiterated an “overweight” rating on shares of Oracle in a research report on Wednesday, June 18th. Royal Bank Of Canada upped their price target on Oracle from $145.00 to $195.00 and gave the company a “sector perform” rating in a research report on Thursday, June 12th. Cowen reiterated a “buy” rating on shares of Oracle in a research report on Thursday, June 12th. Finally, Scotiabank initiated coverage on Oracle in a research report on Thursday, July 17th. They set a “sector outperform” rating and a $300.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.75.

Insider Activity

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the sale, the insider owned 60,722 shares of the company’s stock, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Maria Smith sold 10,000 shares of the stock in a transaction that occurred 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 directly owned 40,807 shares of the company’s stock, valued at approximately $9,507,622.93. This trade represents a 19.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 444,183 shares of company stock valued at $86,521,198. Corporate insiders own 42.20% of the company’s stock.

Oracle Stock Up 0.3%

Shares of NYSE ORCL opened at $250.04 on Monday. The stock has a market capitalization of $702.32 billion, a P/E ratio of 57.61, a PEG ratio of 3.73 and a beta of 1.43. Oracle Corporation has a one year low of $118.86 and a one year high of $260.87. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The firm’s 50 day simple moving average is $222.64 and its two-hundred day simple moving average is $177.75.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The firm had revenue of $15.90 billion during 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 quarter in the prior year, the firm posted $1.63 earnings per share. As a group, analysts expect that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle’s dividend payout ratio is 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.