PNC Financial Services Group Inc. Sells 25,190 Shares of Oracle Corporation (NYSE:ORCL)

Key Points

• PNC Financial Services Group Inc. has decreased its stake in Oracle Corporation by 0.8%, now holding 3,257,265 shares valued at approximately $455 million.
• Several institutional investors, including Mitsubishi UFJ and IFG Advisory LLC, have recently changed their positions in Oracle, contributing to a cumulative institutional ownership of 42.44%.
• Oracle reported an earnings per share (EPS) of $1.70 for the latest quarter, exceeding expectations, with a year-over-year revenue growth of 11.3%.

PNC Financial Services Group Inc. reduced its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,257,265 shares of the enterprise software provider's stock after selling 25,190 shares during the quarter. PNC Financial Services Group Inc. owned 0.12% of Oracle worth $455,398,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp raised its position in Oracle by 3.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 949,715 shares of the enterprise software provider's stock worth $132,780,000 after acquiring an additional 29,035 shares in the last quarter. Fiduciary Wealth Partners LLC bought a new position in shares of Oracle in the first quarter valued at about $169,000. IFG Advisory LLC raised its position in shares of Oracle by 32.0% in the first quarter. IFG Advisory LLC now owns 4,310 shares of the enterprise software provider's stock valued at $603,000 after purchasing an additional 1,044 shares during the period. Mullooly Asset Management Inc. bought a new position in shares of Oracle in the first quarter valued at about $204,000. Finally, Pettyjohn Wood & White Inc. raised its position in shares of Oracle by 3.1% in the first quarter. Pettyjohn Wood & White Inc. now owns 31,473 shares of the enterprise software provider's stock valued at $4,400,000 after purchasing an additional 941 shares during the period. 42.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

ORCL has been the topic of several research analyst reports. Loop Capital set a $135.00 price objective on shares of Oracle in a research report on Tuesday, June 10th. Evercore ISI increased their price objective on shares of Oracle from $215.00 to $270.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Jefferies Financial Group increased their price objective on shares of Oracle from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 9th. The Goldman Sachs Group reissued a "neutral" rating and issued a $195.00 price objective (up from $145.00) on shares of Oracle in a research report on Friday, June 13th. Finally, Bank of America increased their price objective on shares of Oracle from $156.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. Nine analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $218.29.

Oracle Trading Down 3.7%

Shares of Oracle stock opened at $244.44 on Friday. The company has a market capitalization of $686.59 billion, a price-to-earnings ratio of 56.32, a PEG ratio of 3.79 and a beta of 1.43. 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 12-month low of $118.86 and a 12-month high of $260.87. The firm's 50-day moving average price is $213.55 and its two-hundred day moving average price is $174.74.

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

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. Oracle's dividend payout ratio is 46.08%.

Insider Transactions at Oracle

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total transaction of $770,655.96. Following the completion of the transaction, the director directly owned 31,447 shares of the company's stock, valued at $7,337,214.04. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 431,169 shares of company stock valued at $82,908,609. 42.20% of the stock is 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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