Legacy Capital Wealth Partners LLC Raises Holdings in Oracle Co. (NYSE:ORCL)

Legacy Capital Wealth Partners LLC grew its position in shares of Oracle Co. (NYSE:ORCL) by 79.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,023 shares of the enterprise software provider’s stock after purchasing an additional 3,115 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Oracle were worth $1,197,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new position in shares of Oracle during the second quarter worth about $27,000. POM Investment Strategies LLC purchased a new position in shares of Oracle during the second quarter worth about $30,000. Bbjs Financial Advisors LLC purchased a new position in shares of Oracle during the second quarter worth about $35,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Oracle during the first quarter worth about $38,000. Finally, Quest Partners LLC purchased a new position in shares of Oracle during the second quarter worth about $40,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ORCL shares. Bank of America raised their price target on Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Royal Bank of Canada assumed coverage on Oracle in a report on Wednesday, October 23rd. They issued a “sector perform” rating and a $165.00 price objective on the stock. KeyCorp lifted their price objective on Oracle from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, BMO Capital Markets lifted their price objective on Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and an average price target of $168.52.

Oracle Price Performance

Oracle stock opened at $189.25 on Friday. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $190.16. The firm has a fifty day moving average of $167.47 and a 200-day moving average of $144.10. The firm has a market capitalization of $524.42 billion, a P/E ratio of 48.78, a PEG ratio of 3.34 and a beta of 1.02. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same period last year, the business posted $0.95 EPS. The company’s revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that Oracle Co. will post 5 EPS for the current year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is 41.24%.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the sale, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 42.20% of the stock is currently owned by company insiders.

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.