Novare Capital Management LLC Buys 245 Shares of Oracle Corporation (NYSE:ORCL)

Novare Capital Management LLC increased its stake in Oracle Corporation (NYSE:ORCL) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,120 shares of the enterprise software provider’s stock after purchasing an additional 245 shares during the period. Novare Capital Management LLC’s holdings in Oracle were worth $716,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC raised its position in shares of Oracle by 189.3% in the 4th quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock valued at $25,593,000 after buying an additional 100,494 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Oracle by 8.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock valued at $903,000 after acquiring an additional 404 shares during the last quarter. Cookson Peirce & Co. Inc. raised its position in Oracle by 4.4% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider’s stock valued at $237,000 after purchasing an additional 60 shares in the last quarter. Assetmark Inc. raised its position in Oracle by 374.0% during the fourth quarter. Assetmark Inc. now owns 51,033 shares of the enterprise software provider’s stock valued at $8,504,000 after purchasing an additional 40,266 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in Oracle by 8.5% during the fourth quarter. Proficio Capital Partners LLC now owns 26,853 shares of the enterprise software provider’s stock worth $4,475,000 after purchasing an additional 2,101 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ORCL shares. Piper Sandler reiterated a “neutral” rating and issued a $130.00 price target on shares of Oracle in a research note on Wednesday, June 11th. Cantor Fitzgerald reduced their price objective on Oracle from $214.00 to $175.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Roth Capital reiterated a “hold” rating on shares of Oracle in a research report on Wednesday, June 18th. Barclays reissued an “overweight” rating and issued a $221.00 target price (up previously from $202.00) on shares of Oracle in a report on Friday, June 13th. Finally, DA Davidson raised their price target on shares of Oracle from $140.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, June 12th. Ten investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and an average price target of $204.15.

Oracle Trading Up 3.2%

NYSE ORCL opened at $237.39 on Friday. The firm has a market capitalization of $666.79 billion, a PE ratio of 54.70, a price-to-earnings-growth ratio of 3.55 and a beta of 1.39. The business’s 50-day moving average price is $178.14 and its two-hundred day moving average price is $164.26. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $237.99.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business had revenue of $15.90 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the prior year, the business posted $1.63 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, analysts expect that Oracle Corporation will post 5 EPS for the current year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle’s dividend payout ratio is presently 46.08%.

Insider Activity

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider directly owned 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 in the company, valued at approximately $8,785,531.60. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 440,366 shares of company stock worth $83,103,603 in the last three months. Corporate insiders own 42.20% of the company’s stock.

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.