Pinnacle Associates Ltd. Has $10.79 Million Position in Oracle Corporation (ORCL)

Pinnacle Associates Ltd. lifted its position in shares of Oracle Corporation (NYSE:ORCL) by 8.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 215,175 shares of the enterprise software provider’s stock after buying an additional 17,474 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Oracle Corporation were worth $10,789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its holdings in Oracle Corporation by 4.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 10,159,207 shares of the enterprise software provider’s stock valued at $509,383,000 after acquiring an additional 450,836 shares during the last quarter. Partnervest Advisory Services LLC increased its holdings in Oracle Corporation by 0.6% in the 2nd quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after acquiring an additional 39 shares during the last quarter. Lockheed Martin Investment Management Co. increased its holdings in Oracle Corporation by 125.6% in the 2nd quarter. Lockheed Martin Investment Management Co. now owns 166,160 shares of the enterprise software provider’s stock valued at $8,331,000 after acquiring an additional 92,500 shares during the last quarter. Pinnacle Financial Partners Inc. increased its holdings in Oracle Corporation by 8.9% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 113,707 shares of the enterprise software provider’s stock valued at $5,701,000 after acquiring an additional 9,328 shares during the last quarter. Finally, LGT Capital Partners LTD. increased its holdings in Oracle Corporation by 14.0% in the 2nd quarter. LGT Capital Partners LTD. now owns 623,463 shares of the enterprise software provider’s stock valued at $31,260,000 after acquiring an additional 76,653 shares during the last quarter. Institutional investors own 58.09% of the company’s stock.

Shares of Oracle Corporation (NYSE ORCL) opened at $48.63 on Wednesday. The firm has a market cap of $204,584.28, a price-to-earnings ratio of 19.22, a PEG ratio of 1.87 and a beta of 1.07. Oracle Corporation has a 52 week low of $37.64 and a 52 week high of $53.14. The company has a quick ratio of 3.61, a current ratio of 3.63 and a debt-to-equity ratio of 0.86.

Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The firm had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $9.03 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. research analysts forecast that Oracle Corporation will post 2.68 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Tuesday, October 10th. Oracle Corporation’s dividend payout ratio (DPR) is presently 33.19%.

ORCL has been the topic of a number of research reports. Vetr downgraded shares of Oracle Corporation from a “sell” rating to a “strong sell” rating and set a $46.58 price target on the stock. in a report on Tuesday, September 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price target on shares of Oracle Corporation in a report on Monday, September 11th. Canaccord Genuity initiated coverage on shares of Oracle Corporation in a report on Friday, October 6th. They issued a “buy” rating and a $57.00 price target on the stock. BTIG Research reiterated a “buy” rating and issued a $58.00 price target on shares of Oracle Corporation in a report on Tuesday, September 19th. Finally, Moffett Nathanson initiated coverage on shares of Oracle Corporation in a report on Wednesday, September 6th. They issued a “buy” rating and a $65.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.85.

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In related news, EVP Dorian Daley sold 25,776 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $48.05, for a total transaction of $1,238,536.80. Following the sale, the executive vice president now directly owns 30,977 shares of the company’s stock, valued at $1,488,444.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total transaction of $183,112.50. Following the sale, the director now directly owns 18,125 shares in the company, valued at $885,043.75. The disclosure for this sale can be found here. Insiders have sold 305,776 shares of company stock worth $14,821,999 over the last three months. 29.00% of the stock is currently owned by insiders.

Oracle Corporation Company Profile

Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.

Institutional Ownership by Quarter for Oracle Corporation (NYSE:ORCL)

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