First Commonwealth Financial Corp PA Grows Position in Oracle Co. (NYSE:ORCL)

First Commonwealth Financial Corp PA raised its stake in Oracle Co. (NYSE:ORCL) by 2.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,330 shares of the enterprise software provider’s stock after purchasing an additional 225 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Oracle were worth $1,419,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. PineStone Asset Management Inc. lifted its position in shares of Oracle by 131.2% during the second quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock worth $552,262,000 after purchasing an additional 2,219,450 shares in the last quarter. International Assets Investment Management LLC increased its stake in Oracle by 16,023.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider’s stock worth $351,890,000 after buying an additional 2,052,275 shares during the period. Altshuler Shaham Ltd lifted its holdings in Oracle by 5,853.1% during the 2nd quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider’s stock worth $219,224,000 after buying an additional 1,526,500 shares in the last quarter. Boston Partners boosted its position in Oracle by 32.3% in the 1st quarter. Boston Partners now owns 6,037,100 shares of the enterprise software provider’s stock valued at $756,100,000 after buying an additional 1,473,734 shares during the period. Finally, Swedbank AB grew its stake in shares of Oracle by 123.7% in the second quarter. Swedbank AB now owns 2,645,920 shares of the enterprise software provider’s stock worth $373,604,000 after acquiring an additional 1,462,978 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JMP Securities lifted their target price on Oracle from $175.00 to $205.00 and gave the company a “market outperform” rating in a report on Friday, October 18th. Sanford C. Bernstein lifted their price objective on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Evercore ISI lifted their price target on shares of Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. BMO Capital Markets boosted their price target on shares of Oracle from $160.00 to $173.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Finally, StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $169.52.

Oracle Trading Down 1.1 %

Shares of Oracle stock traded down $2.09 during mid-day trading on Wednesday, hitting $188.28. 457,071 shares of the stock were exchanged, compared to its average volume of 8,227,415. The stock has a market capitalization of $521.74 billion, a price-to-earnings ratio of 49.06, a price-to-earnings-growth ratio of 3.46 and a beta of 1.02. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $196.04. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The company has a 50-day simple moving average of $176.44 and a 200 day simple moving average of $150.66.

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

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio is currently 41.24%.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 42,889 shares of the company’s stock, valued at $7,076,685. This trade represents a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.