Wealthspire Advisors LLC Reduces Stake in Oracle Co. (NYSE:ORCL)

Wealthspire Advisors LLC lowered its holdings in Oracle Co. (NYSE:ORCL) by 6.7% during the first quarter, HoldingsChannel reports. The fund owned 19,095 shares of the enterprise software provider’s stock after selling 1,363 shares during the period. Wealthspire Advisors LLC’s holdings in Oracle were worth $2,398,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ORCL. Contour Asset Management LLC grew its stake in Oracle by 41.5% during the 4th quarter. Contour Asset Management LLC now owns 2,192,950 shares of the enterprise software provider’s stock worth $231,203,000 after buying an additional 643,490 shares during the last quarter. Sandy Spring Bank grew its stake in shares of Oracle by 1.4% in the 4th quarter. Sandy Spring Bank now owns 78,049 shares of the enterprise software provider’s stock valued at $8,229,000 after purchasing an additional 1,107 shares during the last quarter. Hancock Whitney Corp grew its stake in shares of Oracle by 12.7% in the 4th quarter. Hancock Whitney Corp now owns 29,301 shares of the enterprise software provider’s stock valued at $3,089,000 after purchasing an additional 3,291 shares during the last quarter. LVM Capital Management Ltd. MI grew its stake in shares of Oracle by 3.5% in the 4th quarter. LVM Capital Management Ltd. MI now owns 5,986 shares of the enterprise software provider’s stock valued at $631,000 after purchasing an additional 200 shares during the last quarter. Finally, Heritage Wealth Advisors grew its stake in shares of Oracle by 0.6% in the 4th quarter. Heritage Wealth Advisors now owns 16,995 shares of the enterprise software provider’s stock valued at $1,792,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Activity

In other news, Director George H. Conrades sold 20,000 shares of Oracle stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $116.00, for a total value of $2,320,000.00. Following the completion of the sale, the director now owns 17,836 shares of the company’s stock, valued at $2,068,976. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director George H. Conrades sold 20,000 shares of Oracle stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $116.00, for a total value of $2,320,000.00. Following the completion of the sale, the director now owns 17,836 shares of the company’s stock, valued at $2,068,976. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward Screven sold 426,861 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $141.91, for a total value of $60,575,844.51. Following the sale, the insider now directly owns 2,626,764 shares of the company’s stock, valued at approximately $372,764,079.24. The disclosure for this sale can be found here. Insiders sold a total of 812,500 shares of company stock valued at $113,578,574 over the last quarter. Company insiders own 42.80% of the company’s stock.

Oracle Price Performance

Shares of NYSE ORCL traded up $2.01 during trading on Friday, reaching $144.77. The company had a trading volume of 7,361,770 shares, compared to its average volume of 8,582,574. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $145.79. The stock has a market capitalization of $398.97 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.59 and a beta of 1.02. The stock has a 50-day moving average price of $130.88 and a two-hundred day moving average price of $120.70. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 8.25.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). Oracle had a return on equity of 223.01% and a net margin of 19.76%. The company had revenue of $14.29 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the firm earned $1.35 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Oracle Co. will post 5.01 earnings per share for the current year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, July 11th. Oracle’s dividend payout ratio is currently 43.13%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Mizuho lifted their target price on Oracle from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. JMP Securities reiterated a “market perform” rating on shares of Oracle in a research note on Tuesday, June 11th. Morgan Stanley reissued an “equal weight” rating and issued a $125.00 price target on shares of Oracle in a report on Tuesday, June 25th. Sanford C. Bernstein raised their price target on Oracle from $159.00 to $171.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Finally, DA Davidson reissued a “neutral” rating and issued a $105.00 price target on shares of Oracle in a report on Wednesday, June 12th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.83.

Oracle 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.