Pitcairn Co. Boosts Stock Position in Oracle Co. (NYSE:ORCL)

Pitcairn Co. raised its holdings in Oracle Co. (NYSE:ORCL) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,754 shares of the enterprise software provider’s stock after purchasing an additional 584 shares during the period. Pitcairn Co.’s holdings in Oracle were worth $2,959,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. R Squared Ltd bought a new stake in Oracle in the fourth quarter valued at about $25,000. Winch Advisory Services LLC grew its position in shares of Oracle by 89.7% in the 4th quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock worth $31,000 after acquiring an additional 87 shares in the last quarter. Synergy Investment Management LLC bought a new stake in shares of Oracle in the 4th quarter valued at approximately $34,000. TFC Financial Management Inc. raised its position in shares of Oracle by 129.0% during the 4th quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider’s stock valued at $35,000 after acquiring an additional 120 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new position in Oracle during the fourth quarter worth $47,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Stock Up 2.8 %

ORCL stock opened at $145.96 on Thursday. The company’s 50 day simple moving average is $162.14 and its 200-day simple moving average is $169.85. Oracle Co. has a 52-week low of $112.78 and a 52-week high of $198.31. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $408.24 billion, a P/E ratio of 35.69, a P/E/G ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL) last released its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business had revenue of $14.13 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same quarter in the previous year, the company earned $1.41 EPS. Oracle’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that Oracle Co. will post 5 EPS for the current year.

Oracle Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 10th will be issued a dividend of $0.50 per share. This is a boost from Oracle’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, April 10th. Oracle’s dividend payout ratio (DPR) is currently 46.95%.

Insider Activity at Oracle

In other Oracle news, CEO Safra Catz sold 2,101,154 shares of Oracle stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $185.35, for a total transaction of $389,448,893.90. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $207,331,027.20. This trade represents a 65.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 42.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of Oracle from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Jefferies Financial Group reduced their price target on shares of Oracle from $220.00 to $190.00 and set a “buy” rating for the company in a report on Monday. Stifel Nicolaus reduced their target price on shares of Oracle from $175.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. UBS Group reaffirmed a “market perform” rating on shares of Oracle in a report on Tuesday, March 11th. Finally, Monness Crespi & Hardt raised Oracle from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Oracle presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.65.

About Oracle

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.