Oracle Corporation (NYSE:ORCL) Shares Acquired by Novem Group

Novem Group boosted its position in Oracle Corporation (NYSE:ORCL) by 58.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,659 shares of the enterprise software provider’s stock after purchasing an additional 1,720 shares during the quarter. Novem Group’s holdings in Oracle were worth $651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ORCL. Redmont Wealth Advisors LLC bought a new position in shares of Oracle in the first quarter worth $27,000. Inlight Wealth Management LLC bought a new stake in shares of Oracle during the first quarter valued at about $28,000. Sunbeam Capital Management LLC acquired a new stake in Oracle in the fourth quarter worth about $30,000. Hurley Capital LLC bought a new position in Oracle in the 4th quarter valued at about $33,000. Finally, Synergy Investment Management LLC acquired a new position in Oracle during the 4th quarter valued at about $34,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Stock Up 3.2%

NYSE ORCL opened at $237.39 on Friday. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $237.99. The stock has a market cap of $666.79 billion, a PE ratio of 54.70, a PEG ratio of 3.44 and a beta of 1.39. The firm has a 50-day simple moving average of $176.16 and a 200 day simple moving average of $163.79. 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 firm also recently declared 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 is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.84%. Oracle’s dividend payout ratio is currently 46.08%.

Analyst Ratings Changes

ORCL has been the subject of a number of research analyst reports. Roth Capital restated a “hold” rating on shares of Oracle in a research report on Wednesday, June 18th. Citigroup reissued an “outperform” rating on shares of Oracle in a research note on Thursday, June 12th. CIBC restated a “buy” rating on shares of Oracle in a report on Monday, June 9th. DA Davidson lifted their target price on Oracle from $140.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, June 12th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Oracle in a report on Wednesday, June 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.15.

Insider Buying and Selling at Oracle

In related news, Director Leon E. Panetta sold 17,500 shares of the company’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 sale, the director owned 58,090 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 1,097,576 shares of the company’s stock, valued at $209,000,421.92. This trade represents a 26.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 440,366 shares of company stock worth $83,103,603. Corporate insiders own 42.20% of the company’s stock.

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.