Modern Wealth Management LLC Buys 8,018 Shares of Oracle Co. (NYSE:ORCL)

Modern Wealth Management LLC lifted its position in Oracle Co. (NYSE:ORCL - Free Report) by 130.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,167 shares of the enterprise software provider's stock after purchasing an additional 8,018 shares during the period. Modern Wealth Management LLC's holdings in Oracle were worth $2,535,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ORCL. CoreFirst Bank & Trust purchased a new position in shares of Oracle in the fourth quarter valued at about $761,000. Lynx Investment Advisory grew its stake in shares of Oracle by 26.1% in the fourth quarter. Lynx Investment Advisory now owns 2,387 shares of the enterprise software provider's stock worth $398,000 after purchasing an additional 494 shares during the last quarter. Hirtle Callaghan & Co LLC increased its holdings in Oracle by 6.9% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 3,099 shares of the enterprise software provider's stock valued at $516,000 after purchasing an additional 199 shares during the period. Woodmont Investment Counsel LLC raised its position in Oracle by 1.7% during the 4th quarter. Woodmont Investment Counsel LLC now owns 11,124 shares of the enterprise software provider's stock valued at $1,854,000 after purchasing an additional 185 shares during the last quarter. Finally, Corebridge Financial Inc. lifted its holdings in Oracle by 2.5% in the 4th quarter. Corebridge Financial Inc. now owns 432,522 shares of the enterprise software provider's stock worth $72,075,000 after buying an additional 10,711 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

ORCL has been the subject of a number of recent analyst reports. Royal Bank of Canada set a $145.00 target price on Oracle and gave the company a "sector perform" rating in a report on Tuesday, March 11th. Cantor Fitzgerald decreased their price objective on shares of Oracle from $214.00 to $175.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Stephens began coverage on shares of Oracle in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $167.00 target price on the stock. Monness Crespi & Hardt raised Oracle from a "sell" rating to a "neutral" rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Oracle from $140.00 to $135.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $179.20.

Oracle Stock Performance

Shares of NYSE:ORCL traded down $6.51 during trading on Friday, hitting $139.27. The company's stock had a trading volume of 7,112,873 shares, compared to its average volume of 8,931,237. The firm has a market cap of $389.53 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 3.46 and a beta of 1.07. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average of $164.35 and a 200-day moving average of $170.11. Oracle Co. has a 12 month low of $112.78 and a 12 month high of $198.31.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.02). The company had revenue of $14.13 billion for the quarter, compared to analysts' expectations of $14.40 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The firm's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. On average, sell-side analysts expect that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be paid a $0.50 dividend. The ex-dividend date is Thursday, April 10th. This is a boost from Oracle's previous quarterly dividend of $0.40. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.44%. Oracle's dividend payout ratio is 46.95%.

Insider Activity

In related news, CEO Safra Catz sold 345,174 shares of Oracle stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the sale, the chief executive officer now owns 1,118,592 shares of the company's stock, valued at approximately $207,565,931.52. This trade represents a 23.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 42.20% of the company's stock.

Oracle Company 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.