Pinnacle Associates Ltd. Has $37.70 Million Stake in Oracle Co. (NYSE:ORCL)

Pinnacle Associates Ltd. increased its position in shares of Oracle Co. (NYSE:ORCL) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 221,266 shares of the enterprise software provider’s stock after buying 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORCL. Valley National Advisers Inc. grew its holdings in shares of Oracle by 6.1% in the 1st quarter. Valley National Advisers Inc. now owns 3,273 shares of the enterprise software provider’s stock valued at $411,000 after acquiring an additional 189 shares in the last quarter. Kovack Advisors Inc. grew its stake in Oracle by 1.6% in the first quarter. Kovack Advisors Inc. now owns 51,172 shares of the enterprise software provider’s stock valued at $6,428,000 after purchasing an additional 814 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in Oracle by 14.4% in the first quarter. First Trust Direct Indexing L.P. now owns 48,044 shares of the enterprise software provider’s stock valued at $6,035,000 after purchasing an additional 6,052 shares in the last quarter. Tempus Wealth Planning LLC increased its position in shares of Oracle by 0.8% during the 1st quarter. Tempus Wealth Planning LLC now owns 12,054 shares of the enterprise software provider’s stock worth $1,514,000 after purchasing an additional 96 shares during the last quarter. Finally, WealthBridge Investment Counsel Inc. raised its stake in shares of Oracle by 1.0% during the 1st quarter. WealthBridge Investment Counsel Inc. now owns 82,775 shares of the enterprise software provider’s stock worth $10,397,000 after purchasing an additional 790 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Price Performance

ORCL traded up $1.22 during trading on Wednesday, hitting $174.65. 1,472,057 shares of the stock traded hands, compared to its average volume of 8,288,737. The business has a 50 day moving average price of $161.53 and a 200 day moving average price of $141.16. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $178.61. The company has a market cap of $483.97 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 3.20 and a beta of 1.01.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. The business had revenue of $13.31 billion for the quarter, compared to analyst estimates of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. Oracle’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. Equities research analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

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

Insider Buying and Selling

In related news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at $7,076,685. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 42.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ORCL has been the subject of several analyst reports. UBS Group reissued a “market outperform” rating on shares of Oracle in a research note on Friday, October 18th. Morgan Stanley lifted their price objective on shares of Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Evercore ISI upped their target price on shares of Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Melius Research raised Oracle from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Finally, Citigroup raised their price objective on Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Twelve analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $168.52.

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.