PineStone Asset Management Inc. Increases Stock Position in Oracle Co. (NYSE:ORCL)

by · The Cerbat Gem

PineStone Asset Management Inc. boosted its stake in Oracle Co. (NYSE:ORCL – Free Report) by 237.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,384,228 shares of the enterprise software provider’s stock after acquiring an additional 1,678,081 shares during the period. Oracle accounts for about 3.6% of PineStone Asset Management Inc.’s holdings, making the stock its 10th biggest position. PineStone Asset Management Inc.’s holdings in Oracle were worth $252,537,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Horizon Bancorp Inc. IN raised its position in shares of Oracle by 4.5% in the second quarter. Horizon Bancorp Inc. IN now owns 3,878 shares of the enterprise software provider’s stock valued at $462,000 after purchasing an additional 166 shares during the period. Trexquant Investment LP purchased a new position in Oracle during the second quarter valued at approximately $27,279,000. Narus Financial Partners LLC purchased a new position in Oracle during the first quarter valued at approximately $327,000. Kistler Tiffany Companies LLC grew its stake in Oracle by 64.2% during the second quarter. Kistler Tiffany Companies LLC now owns 11,548 shares of the enterprise software provider’s stock valued at $1,375,000 after acquiring an additional 4,515 shares in the last quarter. Finally, Garde Capital Inc. grew its stake in Oracle by 8.2% during the first quarter. Garde Capital Inc. now owns 7,114 shares of the enterprise software provider’s stock valued at $661,000 after acquiring an additional 540 shares in the last quarter. Institutional investors own 42.44% of the company’s stock.

Oracle Stock Performance

Shares of NYSE:ORCL traded up $0.77 during trading on Thursday, hitting $104.92. The company’s stock had a trading volume of 856,372 shares, compared to its average volume of 9,187,904. The company has a 50-day moving average of $109.79 and a 200-day moving average of $113.48. Oracle Co. has a 12 month low of $79.43 and a 12 month high of $127.54. The company has a debt-to-equity ratio of 18.84, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $288.42 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 2.64 and a beta of 1.05.

Oracle (NYSE:ORCL – Get Free Report) last issued its quarterly earnings data on Monday, December 11th. The enterprise software provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. Oracle had a net margin of 19.64% and a return on equity of 703.26%. The firm had revenue of $12.94 billion for the quarter, compared to analysts’ expectations of $13.05 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts expect that Oracle Co. will post 4.44 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, January 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Wednesday, January 10th. Oracle’s payout ratio is currently 44.20%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ORCL. Monness Crespi & Hardt cut shares of Oracle from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 12th. Jefferies Financial Group upped their price objective on shares of Oracle from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, September 7th. Evercore ISI lowered their price target on shares of Oracle from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, December 12th. Citigroup upped their price target on shares of Oracle from $121.00 to $138.00 and gave the company a “neutral” rating in a report on Monday, September 11th. Finally, StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a 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 $127.14.

Check Out Our Latest Stock Report on ORCL

Insider Activity

In related news, Director George H. Conrades sold 2,325 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $113.76, for a total value of $264,492.00. Following the completion of the transaction, the director now directly owns 17,836 shares of the company’s stock, valued at $2,029,023.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 42.80% of the company’s stock.

About Oracle

(Free Report)

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.

See Also

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