Thrive Wealth Management LLC Grows Position in Oracle Corporation $ORCL

Thrive Wealth Management LLC boosted its position in shares of Oracle Corporation (NYSE:ORCL) by 141.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,928 shares of the enterprise software provider’s stock after purchasing an additional 8,165 shares during the period. Oracle comprises 0.6% of Thrive Wealth Management LLC’s holdings, making the stock its 24th biggest holding. Thrive Wealth Management LLC’s holdings in Oracle were worth $3,917,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ORCL. Swiss National Bank raised its position in Oracle by 7.6% during the 2nd quarter. Swiss National Bank now owns 5,093,200 shares of the enterprise software provider’s stock valued at $1,113,526,000 after purchasing an additional 360,000 shares in the last quarter. Private Wealth Asset Management LLC increased its stake in shares of Oracle by 9.2% during the second quarter. Private Wealth Asset Management LLC now owns 3,817 shares of the enterprise software provider’s stock valued at $835,000 after buying an additional 321 shares during the period. Soltis Investment Advisors LLC raised its holdings in shares of Oracle by 4.8% in the second quarter. Soltis Investment Advisors LLC now owns 32,937 shares of the enterprise software provider’s stock valued at $7,201,000 after acquiring an additional 1,515 shares in the last quarter. Cascade Investment Group Inc. purchased a new stake in Oracle in the second quarter worth about $239,000. Finally, Lockerman Financial Group Inc. bought a new position in Oracle during the 2nd quarter worth about $328,000. Institutional investors own 42.44% of the company’s stock.

Insider Activity

In related news, CEO Clayton M. Magouyrk sold 40,000 shares of the business’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $276.64, for a total transaction of $11,065,600.00. Following the completion of the transaction, the chief executive officer directly owned 154,030 shares in the company, valued at $42,610,859.20. The trade was a 20.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stuart Levey sold 19,758 shares of the stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $300.00, for a total value of $5,927,400.00. Following the sale, the executive vice president directly owned 18,429 shares in the company, valued at $5,528,700. This represents a 51.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 155,190 shares of company stock valued at $45,279,001 over the last quarter. Insiders own 40.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird lowered their target price on Oracle from $365.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, November 18th. Jefferies Financial Group raised their price objective on Oracle from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Cowen reiterated a “buy” rating on shares of Oracle in a report on Thursday, December 4th. Rothschild Redb raised shares of Oracle to a “strong sell” rating in a research report on Thursday, September 25th. Finally, TD Cowen cut their price target on shares of Oracle from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.92.

Oracle Price Performance

Shares of ORCL opened at $188.52 on Wednesday. The company has a debt-to-equity ratio of 3.28, a current ratio of 0.91 and a quick ratio of 0.91. The company’s fifty day moving average price is $241.52 and its 200-day moving average price is $242.25. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $345.72. The firm has a market capitalization of $541.65 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 1.69 and a beta of 1.66.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, December 10th. The enterprise software provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.62. Oracle had a return on equity of 70.60% and a net margin of 25.28%.The business had revenue of $16.06 billion for the quarter, compared to analyst estimates of $16.19 billion. During the same period in the prior year, the company earned $1.47 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts predict that Oracle Corporation will post 5 EPS for the current year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, January 9th will be paid a $0.50 dividend. The ex-dividend date is Friday, January 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. Oracle’s dividend payout ratio is presently 37.59%.

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.