Lake Street Private Wealth LLC Sells 245 Shares of Oracle Co. (NYSE:ORCL)

Lake Street Private Wealth LLC lowered its stake in shares of Oracle Co. (NYSE:ORCL) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,479 shares of the enterprise software provider’s stock after selling 245 shares during the period. Lake Street Private Wealth LLC’s holdings in Oracle were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Contour Asset Management LLC raised its holdings in shares of Oracle by 41.5% during the fourth quarter. Contour Asset Management LLC now owns 2,192,950 shares of the enterprise software provider’s stock worth $231,203,000 after acquiring an additional 643,490 shares during the period. Sandy Spring Bank raised its stake in shares of Oracle by 1.4% in the 4th quarter. Sandy Spring Bank now owns 78,049 shares of the enterprise software provider’s stock valued at $8,229,000 after purchasing an additional 1,107 shares during the period. Hancock Whitney Corp lifted its holdings in shares of Oracle by 12.7% in the fourth quarter. Hancock Whitney Corp now owns 29,301 shares of the enterprise software provider’s stock valued at $3,089,000 after purchasing an additional 3,291 shares in the last quarter. LVM Capital Management Ltd. MI boosted its position in shares of Oracle by 3.5% during the fourth quarter. LVM Capital Management Ltd. MI now owns 5,986 shares of the enterprise software provider’s stock worth $631,000 after buying an additional 200 shares during the period. Finally, Heritage Wealth Advisors grew its holdings in shares of Oracle by 0.6% during the fourth quarter. Heritage Wealth Advisors now owns 16,995 shares of the enterprise software provider’s stock worth $1,792,000 after buying an additional 109 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Oracle

In other news, insider Edward Screven sold 235,918 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the transaction, the insider now directly owns 2,626,764 shares in the company, valued at approximately $379,042,045.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director George H. Conrades sold 20,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was 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 of the company’s stock, valued at approximately $2,068,976. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edward Screven sold 235,918 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 2,626,764 shares in the company, valued at approximately $379,042,045.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,639 shares of company stock valued at $53,002,729. 42.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ORCL has been the topic of several research reports. Piper Sandler boosted their target price on Oracle from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. BMO Capital Markets increased their target price on shares of Oracle from $142.00 to $160.00 and gave the stock a “market perform” rating in a report on Monday, June 17th. Argus lifted their price target on shares of Oracle from $145.00 to $159.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. KeyCorp increased their price objective on shares of Oracle from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 12th. Finally, StockNews.com lowered Oracle from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.83.

Oracle Stock Performance

Shares of NYSE:ORCL opened at $144.15 on Thursday. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $145.32. The stock has a market capitalization of $397.26 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.71 and a quick ratio of 0.72. The company’s 50 day simple moving average is $126.37 and its 200 day simple moving average is $118.77.

Oracle (NYSE:ORCL) last issued 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 net margin of 19.76% and a return on equity of 223.01%. The business had revenue of $14.29 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the business posted $1.35 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts predict that Oracle Co. will post 5.01 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.11%. 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.