Oracle Co. (NYSE:ORCL) Position Increased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its position in Oracle Co. (NYSE:ORCL) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 221,266 shares of the enterprise software provider’s stock after acquiring an additional 1,483 shares during the period. Pinnacle Associates Ltd.’s holdings in Oracle were worth $37,704,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. First Trust Direct Indexing L.P. lifted its stake in Oracle by 6.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 60,402 shares of the enterprise software provider’s stock worth $10,292,000 after acquiring an additional 3,839 shares in the last quarter. Capstone Triton Financial Group LLC acquired a new position in shares of Oracle in the 3rd quarter valued at about $1,551,000. Evermay Wealth Management LLC lifted its position in shares of Oracle by 15.1% in the third quarter. Evermay Wealth Management LLC now owns 5,272 shares of the enterprise software provider’s stock worth $898,000 after purchasing an additional 693 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Oracle during the third quarter worth approximately $241,000. Finally, Golden State Equity Partners grew its position in Oracle by 5.5% during the third quarter. Golden State Equity Partners now owns 12,432 shares of the enterprise software provider’s stock valued at $2,118,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Price Performance

Shares of ORCL traded up $1.22 during mid-day trading on Wednesday, reaching $174.65. The company had a trading volume of 1,472,057 shares, compared to its average volume of 8,288,737. 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 company has a market capitalization of $483.97 billion, a P/E ratio of 45.15, a P/E/G ratio of 3.20 and a beta of 1.01. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $178.61. The company’s 50-day moving average is $161.53 and its 200-day moving average is $141.16.

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

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s payout ratio is 41.24%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Melius Research raised Oracle from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Jefferies Financial Group raised their price objective on shares of Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, September 16th. UBS Group reissued a “market outperform” rating on shares of Oracle in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.52.

Insider Activity

In related news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.20% of the stock is currently owned by corporate insiders.

Oracle Company 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.