Pinnacle Associates Ltd. decreased its holdings in shares of Oracle Co. (NYSE:ORCL) by 11.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 254,459 shares of the enterprise software provider’s stock after selling 33,553 shares during the period. Pinnacle Associates Ltd.’s holdings in Oracle were worth $14,497,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. Magellan Asset Management Ltd boosted its position in shares of Oracle by 0.5% during the 4th quarter. Magellan Asset Management Ltd now owns 30,936,949 shares of the enterprise software provider’s stock valued at $1,396,803,000 after purchasing an additional 148,974 shares in the last quarter. Norges Bank bought a new position in shares of Oracle during the 4th quarter valued at about $1,235,719,000. Clearbridge Investments LLC boosted its position in shares of Oracle by 1.7% during the 1st quarter. Clearbridge Investments LLC now owns 20,778,045 shares of the enterprise software provider’s stock valued at $1,115,989,000 after purchasing an additional 345,982 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Oracle by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 15,567,402 shares of the enterprise software provider’s stock valued at $886,875,000 after purchasing an additional 562,921 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Oracle by 5.0% during the 1st quarter. Boston Partners now owns 13,088,162 shares of the enterprise software provider’s stock valued at $702,965,000 after purchasing an additional 626,663 shares in the last quarter. Institutional investors own 53.71% of the company’s stock.
Several equities analysts have recently weighed in on ORCL shares. Jefferies Financial Group raised their price objective on shares of Oracle from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. UBS Group reiterated a “neutral” rating and issued a $54.00 target price on shares of Oracle in a report on Friday, June 14th. Wedbush reiterated a “neutral” rating and issued a $55.00 target price (down from $55.92) on shares of Oracle in a report on Thursday, June 20th. Barclays raised their target price on shares of Oracle from $55.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, June 20th. Finally, Macquarie cut shares of Oracle from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $56.00 to $55.00 in a report on Tuesday, June 18th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $54.76.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $10.93 billion. Oracle had a net margin of 28.06% and a return on equity of 40.95%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. Sell-side analysts forecast that Oracle Co. will post 3.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Tuesday, July 16th. Oracle’s dividend payout ratio (DPR) is 30.38%.
In related news, CAO W Corey West sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $56.25, for a total transaction of $2,812,500.00. Following the transaction, the chief accounting officer now owns 85,348 shares of the company’s stock, valued at $4,800,825. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Naomi O. Seligman sold 90,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $59.52, for a total transaction of $5,356,800.00. Following the transaction, the director now directly owns 82,310 shares in the company, valued at approximately $4,899,091.20. The disclosure for this sale can be found here. Insiders sold 1,352,500 shares of company stock valued at $76,708,925 over the last three months. 32.00% of the stock is owned by insiders.
Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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