RKL Wealth Management LLC Sells 2,263 Shares of Oracle Corporation (ORCL)

RKL Wealth Management LLC lessened its stake in Oracle Corporation (NYSE:ORCL) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,939 shares of the enterprise software provider’s stock after selling 2,263 shares during the period. RKL Wealth Management LLC’s holdings in Oracle were worth $959,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Acrospire Investment Management LLC increased its position in Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after purchasing an additional 1,800 shares during the period. Burt Wealth Advisors increased its position in Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after purchasing an additional 88 shares during the period. IHT Wealth Management LLC increased its position in Oracle by 65.9% during the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after purchasing an additional 947 shares during the period. State of Alaska Department of Revenue acquired a new position in Oracle during the 2nd quarter worth approximately $129,000. Finally, ETF Managers Group LLC acquired a new position in Oracle during the 2nd quarter worth approximately $133,000. Hedge funds and other institutional investors own 57.89% of the company’s stock.

Shares of Oracle Corporation (ORCL) opened at $50.23 on Friday. Oracle Corporation has a 52 week low of $39.03 and a 52 week high of $53.14. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $209,630.00, a P/E ratio of 21.56, a P/E/G ratio of 1.92 and a beta of 1.05.

Oracle (NYSE:ORCL) last posted its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the company earned $0.61 EPS. Oracle’s revenue was up 6.2% on a year-over-year basis. equities analysts forecast that Oracle Corporation will post 2.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s dividend payout ratio is presently 32.62%.

Oracle declared that its Board of Directors has authorized a stock repurchase program on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Several equities analysts have issued reports on ORCL shares. Drexel Hamilton reiterated a “buy” rating and set a $62.00 target price on shares of Oracle in a research report on Monday, October 2nd. Piper Jaffray Companies started coverage on Oracle in a research report on Wednesday, October 4th. They set an “overweight” rating and a $55.00 target price on the stock. KeyCorp reiterated a “buy” rating on shares of Oracle in a research report on Wednesday, October 4th. Goldman Sachs Group set a $56.00 target price on Oracle and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Canaccord Genuity started coverage on Oracle in a report on Friday, October 6th. They issued a “buy” rating and a $57.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $55.27.

In other Oracle news, EVP Dorian Daley sold 100,000 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the transaction, the executive vice president now owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total value of $183,112.50. Following the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $885,043.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,250 shares of company stock worth $5,310,063. Corporate insiders own 29.00% of the company’s stock.

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Oracle Company Profile

Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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