Kingsview Wealth Management LLC Increases Holdings in Oracle Co. (NYSE:ORCL)

Kingsview Wealth Management LLC grew its holdings in Oracle Co. (NYSE:ORCL) by 4.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 344,701 shares of the enterprise software provider’s stock after acquiring an additional 13,782 shares during the period. Oracle accounts for approximately 1.2% of Kingsview Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. Kingsview Wealth Management LLC’s holdings in Oracle were worth $58,737,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in Oracle in the second quarter worth about $27,000. POM Investment Strategies LLC purchased a new position in shares of Oracle in the 2nd quarter valued at approximately $30,000. Bbjs Financial Advisors LLC purchased a new position in shares of Oracle in the 2nd quarter valued at approximately $35,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Oracle during the first quarter valued at approximately $38,000. Finally, Quest Partners LLC bought a new position in Oracle in the second quarter worth $40,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Oracle

In other news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at $7,076,685. The trade was a 12.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 42.20% of the stock is owned by corporate insiders.

Oracle Price Performance

NYSE ORCL opened at $192.29 on Friday. The stock has a market capitalization of $532.85 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 3.55 and a beta of 1.02. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $196.04. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The business’s fifty day moving average price is $175.62 and its 200-day moving average price is $149.20.

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

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.83%. Oracle’s dividend payout ratio (DPR) is 41.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ORCL shares. BMO Capital Markets boosted their target price on shares of Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Piper Sandler boosted their price objective on shares of Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Morgan Stanley raised their target price on shares of Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Stifel Nicolaus boosted their price target on Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group upped their price target on Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.52.

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.