Cullinan Associates Inc. Lowers Stock Position in Oracle Co. (NYSE:ORCL)

Cullinan Associates Inc. cut its position in shares of Oracle Co. (NYSE:ORCL) by 7.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 138,248 shares of the enterprise software provider’s stock after selling 11,472 shares during the quarter. Oracle makes up about 1.3% of Cullinan Associates Inc.’s holdings, making the stock its 20th biggest position. Cullinan Associates Inc.’s holdings in Oracle were worth $23,974,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ORCL. Eagle Rock Investment Company LLC boosted its holdings in Oracle by 0.4% in the third quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock worth $3,003,000 after acquiring an additional 64 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Oracle by 1.7% in the 3rd quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock worth $674,000 after purchasing an additional 65 shares during the last quarter. Trust Point Inc. boosted its stake in Oracle by 0.5% in the 3rd quarter. Trust Point Inc. now owns 13,606 shares of the enterprise software provider’s stock worth $2,318,000 after purchasing an additional 66 shares in the last quarter. First International Bank & Trust grew its position in Oracle by 1.8% during the 3rd quarter. First International Bank & Trust now owns 3,734 shares of the enterprise software provider’s stock valued at $636,000 after purchasing an additional 67 shares during the last quarter. Finally, Adirondack Trust Co. increased its stake in Oracle by 0.8% during the 3rd quarter. Adirondack Trust Co. now owns 8,636 shares of the enterprise software provider’s stock valued at $1,472,000 after purchasing an additional 67 shares in the last quarter. 42.44% of the stock is owned by institutional investors.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 42.20% of the stock is owned by corporate insiders.

Oracle Stock Performance

NYSE ORCL traded up $1.75 on Friday, reaching $176.13. 351,673 shares of the stock were exchanged, compared to its average volume of 8,344,864. The firm has a market capitalization of $488.07 billion, a PE ratio of 44.94, a PEG ratio of 3.23 and a beta of 1.01. Oracle Co. has a one year low of $99.26 and a one year high of $178.61. The company’s 50-day simple moving average is $158.68 and its two-hundred day simple moving average is $139.61. 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 (NYSE:ORCL) last released its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Oracle’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s dividend payout ratio is currently 41.24%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ORCL. Oppenheimer reiterated a “market perform” rating on shares of Oracle in a research note on Tuesday, September 10th. Sanford C. Bernstein upped their price objective on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. lifted their target price on Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Jefferies Financial Group upped their price target on Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, KeyCorp lifted their price objective on Oracle from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $168.52.

Oracle 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.