Oracle Co. (NYSE:ORCL) Shares Sold by Summit Wealth Partners LLC

Summit Wealth Partners LLC cut its holdings in Oracle Co. (NYSE:ORCL) by 9.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,372 shares of the enterprise software provider’s stock after selling 350 shares during the period. Summit Wealth Partners LLC’s holdings in Oracle were worth $476,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ORCL. Newbridge Financial Services Group Inc. grew its position in shares of Oracle by 5.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,927 shares of the enterprise software provider’s stock valued at $272,000 after purchasing an additional 105 shares during the last quarter. Heritage Wealth Management Inc. acquired a new stake in Oracle during the 2nd quarter valued at $2,141,000. Lazari Capital Management Inc. increased its position in Oracle by 10.3% during the second quarter. Lazari Capital Management Inc. now owns 3,867 shares of the enterprise software provider’s stock worth $546,000 after buying an additional 361 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Oracle in the second quarter worth $36,127,000. Finally, Creekside Partners purchased a new stake in shares of Oracle in the second quarter valued at $425,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the completion of the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $143.69, for a total value of $161,651,250.00. Following the completion of the transaction, the chairman now owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Leon E. Panetta sold 15,000 shares of Oracle stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total value of $2,068,350.00. Following the sale, the director now directly owns 58,090 shares in the company, valued at approximately $8,010,030.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,573,181 shares of company stock worth $225,338,245 over the last quarter. 42.80% of the stock is owned by company insiders.

Analyst Ratings Changes

ORCL has been the subject of several analyst reports. KeyCorp upped their target price on shares of Oracle from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. TD Cowen upped their price objective on shares of Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Argus lifted their target price on shares of Oracle from $145.00 to $159.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Guggenheim increased their price target on Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Oracle from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Oracle currently has an average rating of “Moderate Buy” and an average target price of $167.42.

Oracle Stock Performance

Oracle stock opened at $167.12 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The stock has a 50 day moving average of $146.05 and a 200-day moving average of $134.40. The stock has a market cap of $463.08 billion, a P/E ratio of 45.05, a price-to-earnings-growth ratio of 3.05 and a beta of 1.01. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $173.99.

Oracle (NYSE:ORCL) last released its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, analysts expect that Oracle Co. will post 5.01 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.96%. Oracle’s payout ratio is currently 43.13%.

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.