Banque Pictet & Cie SA Has $1.88 Million Position in Oracle Corporation (NYSE:ORCL)

Banque Pictet & Cie SA raised its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 66.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,460 shares of the enterprise software provider's stock after purchasing an additional 5,358 shares during the period. Banque Pictet & Cie SA's holdings in Oracle were worth $1,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sunbeam Capital Management LLC bought a new stake in shares of Oracle in the fourth quarter valued at about $30,000. Hurley Capital LLC bought a new stake in shares of Oracle in the fourth quarter valued at about $33,000. Redmont Wealth Advisors LLC bought a new stake in shares of Oracle in the first quarter valued at about $27,000. Inlight Wealth Management LLC bought a new stake in shares of Oracle in the first quarter valued at about $28,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Oracle during the fourth quarter worth about $36,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Trading Up 0.8%

Shares of NYSE:ORCL opened at $236.47 on Thursday. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $241.44. The business's fifty day simple moving average is $183.77 and its 200-day simple moving average is $165.63. The company has a market capitalization of $664.20 billion, a PE ratio of 54.49, a P/E/G ratio of 3.51 and a beta of 1.39. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same period last year, the business posted $1.63 EPS. The business's revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle's payout ratio is presently 46.08%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stephens assumed coverage on shares of Oracle in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $167.00 price objective for the company. Bank of America upped their price objective on shares of Oracle from $156.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. Mizuho lowered their target price on Oracle from $210.00 to $180.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. JMP Securities set a $240.00 target price on Oracle and gave the stock a "market outperform" rating in a research note on Thursday, June 12th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Oracle in a research note on Wednesday, June 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Oracle currently has a consensus rating of "Moderate Buy" and an average price target of $204.15.

Insider Buying and Selling

In other news, Director Naomi O. Seligman sold 2,866 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the completion of the sale, the director directly owned 31,764 shares in the company, valued at $4,749,670.92. The trade was a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the sale, the insider owned 1,097,576 shares of the company's stock, valued at $209,000,421.92. The trade was a 26.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 450,366 shares of company stock valued at $85,433,503 in the last three months. 42.20% of the stock is currently owned by company 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.

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