Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Oracle Co. (NYSE:ORCL) by 9.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,208 shares of the enterprise software provider’s stock after purchasing an additional 365 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Oracle were worth $328,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Baldrige Asset Management LLC acquired a new stake in shares of Oracle in the second quarter valued at $28,000. Cowen Prime Advisors LLC acquired a new stake in shares of Oracle in the second quarter valued at $31,000. tru Independence LLC acquired a new stake in shares of Oracle in the second quarter valued at $37,000. Harbour Investments Inc. bought a new position in Oracle in the first quarter valued at about $34,000. Finally, McCarthy Asset Management Inc. boosted its holdings in Oracle by 214.3% in the second quarter. McCarthy Asset Management Inc. now owns 484 shares of the enterprise software provider’s stock valued at $38,000 after acquiring an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 44.47% of the company’s stock.
NYSE:ORCL opened at $86.39 on Wednesday. The firm has a market capitalization of $241.20 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 2.53 and a beta of 0.80. Oracle Co. has a twelve month low of $55.14 and a twelve month high of $91.78. The stock’s 50 day moving average price is $88.73 and its two-hundred day moving average price is $80.39. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 12.77.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 26th. Stockholders of record on Tuesday, October 12th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, October 8th. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. Oracle’s dividend payout ratio is currently 30.77%.
In related news, EVP Dorian Daley sold 125,000 shares of the business’s stock in a transaction on Friday, June 18th. The stock was sold at an average price of $76.38, for a total value of $9,547,500.00. Following the completion of the sale, the executive vice president now directly owns 125,000 shares in the company, valued at approximately $9,547,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Boskin sold 37,500 shares of the business’s stock in a transaction on Friday, June 18th. The shares were sold at an average price of $76.66, for a total value of $2,874,750.00. Following the completion of the sale, the director now owns 115,662 shares of the company’s stock, valued at $8,866,648.92. The disclosure for this sale can be found here. Insiders have sold a total of 385,000 shares of company stock valued at $30,231,050 over the last quarter. 39.10% of the stock is currently owned by corporate insiders.
ORCL has been the topic of several recent research reports. Piper Sandler raised their price target on Oracle from $57.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, June 16th. Barclays raised their target price on Oracle from $83.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, September 2nd. Monness Crespi & Hardt raised their target price on Oracle to $115.00 and gave the stock a “buy” rating in a report on Tuesday. Societe Generale raised their target price on Oracle from $83.00 to $88.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Oracle in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $80.38.
Oracle Company Profile
Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.
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