Oracle Co. (NYSE:ORCL) Stake Cut by Pitcairn Co.

Pitcairn Co. cut its stake in Oracle Co. (NYSE:ORCL - Free Report) by 15.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,170 shares of the enterprise software provider's stock after selling 3,043 shares during the quarter. Pitcairn Co.'s holdings in Oracle were worth $2,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Oracle by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider's stock valued at $411,748,000 after buying an additional 121,874 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Oracle by 15.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider's stock worth $3,502,000 after acquiring an additional 3,300 shares during the period. Chase Investment Counsel Corp bought a new position in shares of Oracle during the third quarter valued at $4,160,000. Oppenheimer Asset Management Inc. increased its stake in Oracle by 79.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider's stock worth $48,813,000 after purchasing an additional 126,985 shares during the period. Finally, Buckley Wealth Management LLC increased its holdings in Oracle by 63.8% in the 3rd quarter. Buckley Wealth Management LLC now owns 7,370 shares of the enterprise software provider's stock worth $1,256,000 after acquiring an additional 2,870 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors.

Oracle Price Performance

Shares of ORCL traded down $0.14 during trading hours on Friday, reaching $192.29. 6,879,447 shares of the company's stock traded hands, compared to its average volume of 6,824,324. The stock has a market cap of $532.85 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.02. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $196.04. The firm's 50 day simple moving average is $175.62 and its 200-day simple moving average is $149.20.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. The firm had revenue of $13.31 billion for 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 firm's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities analysts expect that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.83%. Oracle's payout ratio is 41.24%.

Insider Buying and Selling at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction 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 represents a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 42.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ORCL shares. BMO Capital Markets upped their price objective on shares of Oracle from $160.00 to $173.00 and gave the company a "market perform" rating in a research report on Tuesday, September 10th. Mizuho increased their price target on shares of Oracle from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Guggenheim raised their price objective on Oracle from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, September 13th. DA Davidson upped their price target on Oracle from $105.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus upped their target price on Oracle from $135.00 to $155.00 and gave the company a "hold" rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $169.52.

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.