Spire Wealth Management Has $1.89 Million Position in Oracle Co. (NYSE:ORCL)

Spire Wealth Management lessened its holdings in Oracle Co. (NYSE:ORCL) by 5.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,838 shares of the enterprise software provider’s stock after selling 881 shares during the period. Spire Wealth Management’s holdings in Oracle were worth $1,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORCL. Horizon Wealth Management LLC increased its stake in shares of Oracle by 2.3% during the 2nd quarter. Horizon Wealth Management LLC now owns 3,922 shares of the enterprise software provider’s stock worth $467,000 after purchasing an additional 87 shares during the last quarter. Drive Wealth Management LLC grew its stake in shares of Oracle by 1.5% during the 2nd quarter. Drive Wealth Management LLC now owns 6,040 shares of the enterprise software provider’s stock worth $719,000 after acquiring an additional 91 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. increased its holdings in Oracle by 1.2% in the 2nd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 7,820 shares of the enterprise software provider’s stock worth $931,000 after acquiring an additional 91 shares during the last quarter. Noesis Capital Mangement Corp increased its stake in shares of Oracle by 3.2% in the second quarter. Noesis Capital Mangement Corp now owns 3,149 shares of the enterprise software provider’s stock worth $375,000 after purchasing an additional 97 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Oracle by 1.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 5,963 shares of the enterprise software provider’s stock valued at $710,000 after purchasing an additional 97 shares during the period. Institutional investors own 42.44% of the company’s stock.

Insider Buying and Selling at Oracle

In other Oracle news, Director George H. Conrades sold 2,325 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $113.76, for a total transaction of $264,492.00. Following the completion of the transaction, the director now owns 17,836 shares of the company’s stock, valued at approximately $2,029,023.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 42.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $130.00 price objective on shares of Oracle in a research note on Friday, September 22nd. Monness Crespi & Hardt cut Oracle from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 12th. Berenberg Bank increased their price objective on Oracle from $82.50 to $110.00 and gave the stock a “hold” rating in a report on Thursday, September 21st. DA Davidson cut their target price on Oracle from $115.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, September 12th. Finally, JPMorgan Chase & Co. cut Oracle from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $112.00 to $100.00 in a research report on Wednesday, September 13th. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Oracle has an average rating of “Moderate Buy” and an average price target of $124.23.

Oracle Price Performance

ORCL stock opened at $116.14 on Wednesday. The firm has a market cap of $318.15 billion, a P/E ratio of 34.57, a P/E/G ratio of 2.89 and a beta of 1.03. The firm’s fifty day moving average is $109.58 and its 200 day moving average is $111.33. Oracle Co. has a 52 week low of $78.01 and a 52 week high of $127.54. The company has a debt-to-equity ratio of 29.72, a quick ratio of 0.87 and a current ratio of 0.87.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 11th. The enterprise software provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. Oracle had a net margin of 18.40% and a negative return on equity of 3,631.39%. The business had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Research analysts predict that Oracle Co. will post 4.51 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Thursday, October 12th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Wednesday, October 11th. Oracle’s dividend payout ratio (DPR) is presently 47.62%.

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.