PNC Financial Services Group Inc. Trims Holdings in Oracle Co. (NYSE:ORCL)

PNC Financial Services Group Inc. lowered its position in Oracle Co. (NYSE:ORCL) by 2.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,329,288 shares of the enterprise software provider’s stock after selling 98,323 shares during the period. PNC Financial Services Group Inc.’s holdings in Oracle were worth $567,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors raised its stake in shares of Oracle by 0.4% during the 1st quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock valued at $2,319,604,000 after buying an additional 82,551 shares during the last quarter. Legal & General Group Plc raised its position in Oracle by 2.3% during the second quarter. Legal & General Group Plc now owns 13,242,340 shares of the enterprise software provider’s stock valued at $1,869,816,000 after acquiring an additional 296,866 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Oracle by 148.8% in the first quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after acquiring an additional 7,699,141 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Oracle by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,318,962 shares of the enterprise software provider’s stock worth $1,033,430,000 after purchasing an additional 424,500 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Oracle by 0.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,182,917 shares of the enterprise software provider’s stock valued at $1,015,862,000 after purchasing an additional 66,444 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Evercore ISI lifted their price objective on shares of Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. JMP Securities lifted their price target on Oracle from $175.00 to $205.00 and gave the company a “market outperform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. DA Davidson boosted their price objective on Oracle from $105.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Finally, TD Cowen boosted their price target on shares of Oracle from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $169.52.

Oracle Price Performance

Oracle stock opened at $185.75 on Tuesday. The company has a 50-day moving average price of $173.06 and a 200 day moving average price of $147.56. The stock has a market cap of $514.72 billion, a P/E ratio of 47.87, a PEG ratio of 3.39 and a beta of 1.02. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $191.77.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. During the same quarter last year, the firm posted $0.95 earnings per share. Oracle’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Oracle Co. will post 5 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Thursday, October 10th. Oracle’s payout ratio is 41.24%.

Insider Transactions at Oracle

In other news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 42.20% of the company’s stock.

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.