PNC Financial Services Group Inc. Sells 46,833 Shares of Oracle Co. (NYSE:ORCL)

PNC Financial Services Group Inc. lowered its position in shares of Oracle Co. (NYSE:ORCL) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,282,455 shares of the enterprise software provider’s stock after selling 46,833 shares during the quarter. PNC Financial Services Group Inc. owned 0.12% of Oracle worth $546,988,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Oracle during the 4th quarter worth approximately $930,095,000. Franklin Resources Inc. increased its stake in shares of Oracle by 11.6% during the 3rd quarter. Franklin Resources Inc. now owns 18,480,384 shares of the enterprise software provider’s stock worth $3,370,640,000 after purchasing an additional 1,917,416 shares during the last quarter. State Street Corp increased its stake in shares of Oracle by 2.7% during the 3rd quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider’s stock worth $12,003,241,000 after purchasing an additional 1,847,561 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Oracle by 3,805.0% during the 4th quarter. Proficio Capital Partners LLC now owns 966,571 shares of the enterprise software provider’s stock worth $161,069,000 after purchasing an additional 941,819 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Oracle by 279.7% during the 4th quarter. Jennison Associates LLC now owns 1,210,745 shares of the enterprise software provider’s stock worth $201,759,000 after purchasing an additional 891,842 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Oracle Stock Performance

NYSE ORCL opened at $155.89 on Friday. Oracle Co. has a 52-week low of $111.18 and a 52-week high of $198.31. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $436.01 billion, a P/E ratio of 38.11, a P/E/G ratio of 3.46 and a beta of 1.07. The company has a fifty day moving average of $167.63 and a 200-day moving average of $169.10.

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

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, January 10th. Oracle’s dividend payout ratio is currently 39.12%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ORCL. Citigroup raised their price target on shares of Oracle from $157.00 to $194.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. BMO Capital Markets raised their price target on shares of Oracle from $173.00 to $205.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 10th. Jefferies Financial Group raised their price target on shares of Oracle from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Piper Sandler lifted their price objective on shares of Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Finally, BNP Paribas upgraded shares of Oracle to a “strong-buy” rating in a research note on Tuesday, December 10th. Twelve equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $182.73.

Insider Transactions at Oracle

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

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.