First Commonwealth Financial Corp PA Purchases 2,881 Shares of Oracle Co. (NYSE:ORCL)

First Commonwealth Financial Corp PA lifted its holdings in Oracle Co. (NYSE:ORCL) by 34.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,211 shares of the enterprise software provider’s stock after acquiring an additional 2,881 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Oracle were worth $1,868,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Altshuler Shaham Ltd boosted its stake in Oracle by 155.5% in the fourth quarter. Altshuler Shaham Ltd now owns 1,874,330 shares of the enterprise software provider’s stock worth $312,338,000 after purchasing an additional 1,140,600 shares in the last quarter. Coleford Investment Management Ltd. bought a new position in shares of Oracle in the fourth quarter valued at about $24,862,000. Greenwood Gearhart Inc. lifted its position in Oracle by 1.2% during the 4th quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider’s stock worth $955,000 after buying an additional 66 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Oracle by 3.1% during the 4th quarter. NewEdge Advisors LLC now owns 511,947 shares of the enterprise software provider’s stock worth $85,311,000 after acquiring an additional 15,496 shares during the last quarter. Finally, Everest Management Corp. acquired a new stake in Oracle in the 4th quarter valued at about $913,000. 42.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank of Canada set a $145.00 price target on shares of Oracle and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. Cantor Fitzgerald lowered their target price on Oracle from $214.00 to $175.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group cut their price target on Oracle from $220.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Guggenheim reiterated a “buy” rating and issued a $220.00 price objective on shares of Oracle in a research report on Thursday, April 3rd. Finally, KeyCorp restated an “overweight” rating and set a $200.00 target price on shares of Oracle in a research report on Tuesday, March 11th. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Oracle has an average rating of “Moderate Buy” and an average target price of $176.73.

Oracle Price Performance

ORCL stock opened at $129.67 on Thursday. The stock has a 50-day moving average price of $152.83 and a two-hundred day moving average price of $166.90. Oracle Co. has a 1 year low of $112.78 and a 1 year high of $198.31. The stock has a market cap of $362.68 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 3.46 and a beta of 1.22. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). The firm had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. Equities analysts forecast that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Thursday, April 10th. This is a positive change from Oracle’s previous quarterly dividend of $0.40. Oracle’s payout ratio is currently 46.95%.

Insider Buying and Selling

In other Oracle news, Director Leon E. Panetta sold 5,000 shares of the business’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $129.77, for a total transaction of $648,850.00. Following the sale, the director now directly owns 58,090 shares of the company’s stock, valued at $7,538,339.30. The trade was a 7.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Naomi O. Seligman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $145.81, for a total value of $291,620.00. Following the completion of the transaction, the director now owns 34,630 shares of the company’s stock, valued at $5,049,400.30. The trade was a 5.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,453,328 shares of company stock worth $454,439,851. 42.20% of the stock is owned by insiders.

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.