Naviter Wealth LLC Makes New $763,000 Investment in Oracle Co. (NYSE:ORCL)

Naviter Wealth LLC bought a new position in Oracle Co. (NYSE:ORCL) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,077 shares of the enterprise software provider’s stock, valued at approximately $763,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Invst LLC lifted its position in shares of Oracle by 2.7% during the 4th quarter. Invst LLC now owns 3,299 shares of the enterprise software provider’s stock valued at $380,000 after acquiring an additional 86 shares during the last quarter. Nemes Rush Group LLC lifted its position in shares of Oracle by 1.2% during the 4th quarter. Nemes Rush Group LLC now owns 7,334 shares of the enterprise software provider’s stock valued at $773,000 after acquiring an additional 86 shares during the last quarter. Avidian Wealth Solutions LLC lifted its position in shares of Oracle by 1.1% during the 4th quarter. Avidian Wealth Solutions LLC now owns 8,516 shares of the enterprise software provider’s stock valued at $898,000 after acquiring an additional 90 shares during the last quarter. Sovereign Financial Group Inc. lifted its position in shares of Oracle by 2.9% during the 4th quarter. Sovereign Financial Group Inc. now owns 3,244 shares of the enterprise software provider’s stock valued at $342,000 after acquiring an additional 90 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. lifted its position in shares of Oracle by 0.3% during the 4th quarter. Godshalk Welsh Capital Management Inc. now owns 33,435 shares of the enterprise software provider’s stock valued at $3,525,000 after acquiring an additional 90 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on ORCL. JMP Securities reiterated a “market perform” rating on shares of Oracle in a research report on Tuesday, June 11th. Piper Sandler boosted their target price on shares of Oracle from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. Citigroup cut their target price on shares of Oracle from $133.00 to $128.00 and set a “neutral” rating on the stock in a research note on Monday, June 10th. Mizuho boosted their target price on shares of Oracle from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Oracle from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Oracle has a consensus rating of “Moderate Buy” and an average price target of $145.83.

Insider Transactions at Oracle

In other news, insider Edward Screven sold 235,918 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total transaction of $34,042,967.40. Following the completion of the sale, the insider now owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Oracle news, insider Edward Screven sold 235,918 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the transaction, the insider now directly owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director George H. Conrades sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $116.00, for a total transaction of $2,320,000.00. Following the completion of the transaction, the director now directly owns 17,836 shares in the company, valued at $2,068,976. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 385,639 shares of company stock valued at $53,002,729. Corporate insiders own 42.80% of the company’s stock.

Oracle Stock Up 0.1 %

NYSE ORCL opened at $143.27 on Wednesday. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71. The firm has a 50-day simple moving average of $125.81 and a 200 day simple moving average of $118.49. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $145.32. The stock has a market cap of $394.83 billion, a PE ratio of 38.62, a PEG ratio of 2.56 and a beta of 1.02.

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

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Thursday, July 11th. Oracle’s payout ratio is 43.13%.

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.