Pinnacle West Asset Management Inc. Cuts Position in Oracle Co. (NYSE:ORCL)

Pinnacle West Asset Management Inc. cut its stake in Oracle Co. (NYSE:ORCL) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,960 shares of the enterprise software provider’s stock after selling 85 shares during the quarter. Oracle comprises about 1.3% of Pinnacle West Asset Management Inc.’s portfolio, making the stock its 25th biggest position. Pinnacle West Asset Management Inc.’s holdings in Oracle were worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Oracle by 5.3% in 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 acquiring an additional 121,874 shares during the period. McClarren Financial Advisors Inc. boosted its position in shares of Oracle by 201.7% in the 4th quarter. McClarren Financial Advisors Inc. now owns 1,599 shares of the enterprise software provider’s stock worth $266,000 after purchasing an additional 1,069 shares in the last quarter. RMR Wealth Builders boosted its position in shares of Oracle by 383.4% in the 4th quarter. RMR Wealth Builders now owns 7,155 shares of the enterprise software provider’s stock worth $1,192,000 after purchasing an additional 5,675 shares in the last quarter. Foundations Investment Advisors LLC boosted its position in shares of Oracle by 24.8% in the 4th quarter. Foundations Investment Advisors LLC now owns 164,593 shares of the enterprise software provider’s stock worth $27,428,000 after purchasing an additional 32,718 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Oracle in the 4th quarter worth $1,800,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Oracle news, CEO Safra Catz sold 345,174 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the completion of the transaction, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $207,565,931.52. This represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 42.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ORCL. StockNews.com cut Oracle from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. KeyCorp raised their price objective on Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler raised their price objective on Oracle from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Citigroup lifted their price target on Oracle from $157.00 to $194.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, DA Davidson lifted their price target on Oracle from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Oracle currently has an average rating of “Moderate Buy” and an average price target of $182.73.

Oracle Stock Performance

NYSE ORCL opened at $168.51 on Wednesday. The stock has a market capitalization of $471.31 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 3.46 and a beta of 1.05. Oracle Co. has a twelve month low of $109.79 and a twelve month high of $198.31. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. The stock has a 50-day moving average of $168.94 and a 200 day moving average of $168.12.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). The business had revenue of $14.06 billion during the quarter, compared to analyst estimates of $14.12 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 EPS. Sell-side analysts anticipate that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, January 23rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. Oracle’s payout ratio is 39.12%.

Oracle 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.