Spire Wealth Management Lowers Position in Oracle Corporation (NYSE:ORCL)

Spire Wealth Management cut its stake in Oracle Corporation (NYSE:ORCL) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,540 shares of the enterprise software provider’s stock after selling 675 shares during the quarter. Spire Wealth Management’s holdings in Oracle were worth $2,592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ORCL. Inlight Wealth Management LLC purchased a new stake in shares of Oracle in the first quarter worth approximately $28,000. Sunbeam Capital Management LLC purchased a new stake in shares of Oracle during the fourth quarter valued at approximately $30,000. Hurley Capital LLC purchased a new stake in shares of Oracle during the fourth quarter valued at approximately $33,000. Synergy Investment Management LLC purchased a new stake in shares of Oracle during the fourth quarter valued at approximately $34,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Oracle during the fourth quarter valued at approximately $36,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of research analyst reports. JMP Securities set a $240.00 price target on Oracle and gave the company a “market outperform” rating in a research report on Thursday, June 12th. Loop Capital set a $135.00 price objective on Oracle in a report on Tuesday, June 10th. The Goldman Sachs Group reissued a “neutral” rating and set a $195.00 price objective (up from $145.00) on shares of Oracle in a report on Friday, June 13th. CIBC reissued a “buy” rating on shares of Oracle in a report on Monday, June 9th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Oracle in a report on Wednesday, June 18th. Eleven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.67.

Oracle Price Performance

NYSE:ORCL opened at $210.54 on Thursday. The firm has a market capitalization of $591.37 billion, a price-to-earnings ratio of 48.51, a P/E/G ratio of 3.23 and a beta of 1.32. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $216.93. The stock has a fifty day moving average of $165.09 and a 200 day moving average of $161.98. 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 issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year. On average, research analysts expect that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The company 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. This represents a $2.00 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle’s dividend payout ratio (DPR) is currently 46.08%.

Insiders Place Their Bets

In other news, Director Naomi O. Seligman sold 2,000 shares of Oracle stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $145.81, for a total value of $291,620.00. Following the transaction, the director now owns 34,630 shares in the company, valued at approximately $5,049,400.30. The trade was a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider now owns 60,722 shares in the company, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 442,366 shares of company stock valued at $83,395,223 over the last 90 days. Insiders own 42.20% of the company’s stock.

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.