Pinnacle Associates Ltd. Has $33.15 Million Stock Holdings in Oracle Corporation (NYSE:ORCL)

Pinnacle Associates Ltd. grew its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 6.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 237,120 shares of the enterprise software provider's stock after acquiring an additional 14,612 shares during the period. Pinnacle Associates Ltd.'s holdings in Oracle were worth $33,152,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Oracle by 71.6% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock valued at $35,984,000 after acquiring an additional 107,404 shares during the last quarter. Rockland Trust Co. lifted its holdings in shares of Oracle by 4.8% in the first quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock valued at $1,421,000 after purchasing an additional 467 shares in the last quarter. Calamos Advisors LLC lifted its holdings in shares of Oracle by 1.5% in the first quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock valued at $99,445,000 after purchasing an additional 10,426 shares in the last quarter. Cornerstone Advisory LLC lifted its holdings in shares of Oracle by 34.1% in the fourth quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider's stock valued at $2,258,000 after purchasing an additional 3,299 shares in the last quarter. Finally, Peak Retirement Planning Inc. purchased a new stake in shares of Oracle in the fourth quarter valued at $211,000. Institutional investors and hedge funds own 42.44% of the company's stock.

Oracle Price Performance

ORCL traded up $0.74 during midday trading on Thursday, reaching $242.64. 8,229,157 shares of the company's stock were exchanged, compared to its average volume of 13,587,158. The firm has a market capitalization of $681.53 billion, a price-to-earnings ratio of 55.91, a price-to-earnings-growth ratio of 3.61 and a beta of 1.39. The business has a 50-day simple moving average of $202.72 and a two-hundred day simple moving average of $171.02. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a one year low of $118.86 and a one year high of $251.60.

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

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Thursday, July 10th. Oracle's payout ratio is 46.08%.

Analyst Ratings Changes

ORCL has been the subject of a number of research analyst reports. UBS Group increased their target price on Oracle from $250.00 to $280.00 and gave the company a "buy" rating in a report on Thursday, July 17th. TD Cowen increased their target price on Oracle from $250.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Barclays restated an "overweight" rating and issued a $221.00 target price (up previously from $202.00) on shares of Oracle in a report on Friday, June 13th. Guggenheim increased their target price on Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $240.00 price objective (up from $200.00) on shares of Oracle in a report on Thursday, June 12th. Nine research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $218.29.

Insider Activity at Oracle

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the sale, the insider owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the completion of the sale, the executive vice president directly owned 40,807 shares of the company's stock, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 448,669 shares of company stock valued at $85,555,309. Insiders own 42.20% of the company's stock.

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.