Redhawk Wealth Advisors Inc. Takes $402,000 Position in Oracle Co. (NYSE:ORCL)

Redhawk Wealth Advisors Inc. acquired a new stake in shares of Oracle Co. (NYSE:ORCL) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,848 shares of the enterprise software provider’s stock, valued at approximately $402,000.

Other hedge funds also recently bought and sold shares of the company. Contour Asset Management LLC grew its stake in Oracle by 41.5% in the fourth quarter. Contour Asset Management LLC now owns 2,192,950 shares of the enterprise software provider’s stock valued at $231,203,000 after acquiring an additional 643,490 shares during the period. Hancock Whitney Corp lifted its holdings in shares of Oracle by 12.7% during the 4th 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. Heritage Wealth Advisors grew its position in shares of Oracle by 0.6% in the 4th quarter. Heritage Wealth Advisors now owns 16,995 shares of the enterprise software provider’s stock valued at $1,792,000 after purchasing an additional 109 shares during the period. Seven Mile Advisory increased its stake in Oracle by 10.6% during the 4th quarter. Seven Mile Advisory now owns 5,236 shares of the enterprise software provider’s stock worth $552,000 after purchasing an additional 502 shares in the last quarter. Finally, Goelzer Investment Management Inc. lifted its stake in Oracle by 25.0% in the first quarter. Goelzer Investment Management Inc. now owns 7,492 shares of the enterprise software provider’s stock valued at $941,000 after buying an additional 1,500 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ORCL shares. Oppenheimer assumed coverage on shares of Oracle in a research report on Thursday, April 18th. They set a “market perform” rating for the company. Bank of America boosted their price target on Oracle from $144.00 to $155.00 and gave the company a “neutral” rating in a report on Wednesday, June 12th. Argus lifted their target price on Oracle from $145.00 to $159.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Guggenheim reaffirmed a “buy” rating and set a $175.00 price target on shares of Oracle in a research report on Tuesday, June 25th. Finally, Citigroup decreased their price target on shares of Oracle from $133.00 to $128.00 and set a “neutral” rating for the company in a research note on Monday, June 10th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.83.

Oracle Stock Performance

Shares of ORCL stock traded up $1.33 on Thursday, hitting $136.93. The company’s stock had a trading volume of 4,689,764 shares, compared to its average volume of 8,311,047. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $146.59. The company has a market capitalization of $377.36 billion, a PE ratio of 36.66, a PEG ratio of 2.39 and a beta of 1.02. The stock’s 50 day moving average is $137.89 and its 200-day moving average is $125.47. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71.

Oracle (NYSE:ORCL) last announced its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). Oracle had a return on equity of 223.01% and a net margin of 19.76%. The business had revenue of $14.29 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the company earned $1.35 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that Oracle Co. will post 5.02 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.40 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.60 annualized dividend and a yield of 1.17%. Oracle’s dividend payout ratio is presently 43.13%.

Insider Activity

In related news, Director Leon E. Panetta sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the sale, the director now owns 58,090 shares of the company’s stock, valued at $8,010,030.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Oracle news, Director Leon E. Panetta sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the transaction, the director now directly owns 58,090 shares in the company, valued at $8,010,030.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $143.69, for a total value of $161,651,250.00. Following the completion of the sale, the chairman now directly owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. The disclosure for this sale can be found here. In the last three months, insiders sold 1,862,500 shares of company stock worth $266,776,624. 42.80% of the stock is currently owned by company insiders.

About Oracle

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.