Secure Asset Management LLC Raises Position in Oracle Co. (NYSE:ORCL)

Secure Asset Management LLC increased its holdings in shares of Oracle Co. (NYSE:ORCL) by 21.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,235 shares of the enterprise software provider’s stock after buying an additional 2,365 shares during the quarter. Secure Asset Management LLC’s holdings in Oracle were worth $1,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Portside Wealth Group LLC grew its holdings in Oracle by 19.6% in the first quarter. Portside Wealth Group LLC now owns 61,999 shares of the enterprise software provider’s stock valued at $8,668,000 after purchasing an additional 10,165 shares during the period. Park Edge Advisors LLC boosted its holdings in shares of Oracle by 9.9% in the 1st quarter. Park Edge Advisors LLC now owns 7,520 shares of the enterprise software provider’s stock valued at $1,051,000 after purchasing an additional 677 shares during the last quarter. Benson Investment Management Company Inc. purchased a new stake in shares of Oracle during the 1st quarter valued at $4,328,000. Wealth Alliance Advisory Group LLC increased its holdings in shares of Oracle by 2.6% during the 1st quarter. Wealth Alliance Advisory Group LLC now owns 19,156 shares of the enterprise software provider’s stock worth $2,678,000 after buying an additional 490 shares during the last quarter. Finally, Nixon Peabody Trust Co. raised its position in shares of Oracle by 5.5% in the 1st quarter. Nixon Peabody Trust Co. now owns 5,842 shares of the enterprise software provider’s stock worth $817,000 after buying an additional 303 shares during the period. 42.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Naomi O. Seligman sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $145.81, for a total transaction of $291,620.00. Following the completion of the sale, the director now owns 34,630 shares of the company’s stock, valued at $5,049,400.30. This represents a 5.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the director now directly owns 58,090 shares in the company, valued at $8,785,531.60. This represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,366 shares of company stock valued at $4,015,723. Company insiders own 42.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ORCL shares. Jefferies Financial Group lowered their price target on Oracle from $220.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Piper Sandler reissued a “neutral” rating and set a $130.00 target price (down previously from $190.00) on shares of Oracle in a research report on Wednesday, April 23rd. Evercore ISI decreased their price objective on shares of Oracle from $200.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Citigroup reduced their target price on shares of Oracle from $194.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Finally, Mizuho cut their price objective on Oracle from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.42.

Oracle Trading Up 1.6%

Shares of NYSE ORCL opened at $169.26 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The stock’s 50 day moving average price is $145.39 and its two-hundred day moving average price is $160.82. Oracle Co. has a 52-week low of $118.72 and a 52-week high of $198.31. The stock has a market capitalization of $473.40 billion, a P/E ratio of 41.38, a PEG ratio of 3.46 and a beta of 1.32.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The firm had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter last year, the firm posted $1.41 earnings per share. Oracle’s revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Oracle’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Oracle’s dividend payout ratio is 46.95%.

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.