Cullinan Associates Inc. Sells 7,735 Shares of Oracle Co. (NYSE:ORCL)

Cullinan Associates Inc. lowered its position in Oracle Co. (NYSE:ORCL – Get Rating) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,319 shares of the enterprise software provider’s stock after selling 7,735 shares during the period. Oracle makes up approximately 1.0% of Cullinan Associates Inc.’s investment portfolio, making the stock its 22nd biggest holding. Cullinan Associates Inc.’s holdings in Oracle were worth $17,600,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ORCL. Pacifica Partners Inc. raised its stake in shares of Oracle by 108.9% during the third quarter. Pacifica Partners Inc. now owns 401 shares of the enterprise software provider’s stock valued at $29,000 after acquiring an additional 209 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Oracle during the third quarter valued at approximately $28,000. FSC Wealth Advisors LLC bought a new stake in shares of Oracle during the third quarter valued at approximately $29,000. Cowa LLC bought a new stake in shares of Oracle during the third quarter valued at approximately $30,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Oracle during the third quarter valued at approximately $31,000. Institutional investors own 40.96% of the company’s stock.

Wall Street Analyst Weigh In

ORCL has been the subject of several research analyst reports. Monness Crespi & Hardt initiated coverage on shares of Oracle in a research note on Tuesday, December 13th. They set a “buy” rating and a $113.00 price target for the company. KeyCorp lifted their price objective on shares of Oracle from $94.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. Berenberg Bank lifted their price objective on shares of Oracle from $72.00 to $82.50 in a report on Wednesday, March 8th. Barclays lifted their price objective on shares of Oracle from $81.00 to $85.00 in a report on Friday, March 10th. Finally, TheStreet raised shares of Oracle from a “c” rating to a “b-” rating in a report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.06.

Insider Activity

In related news, Director Rona Alison Fairhead sold 8,080 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $89.82, for a total transaction of $725,745.60. Following the completion of the transaction, the director now directly owns 11,197 shares in the company, valued at $1,005,714.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 43.70% of the company’s stock.

Oracle Price Performance

Shares of ORCL opened at $85.26 on Friday. The firm has a market capitalization of $230.18 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.66 and a beta of 1.02. Oracle Co. has a 1-year low of $60.78 and a 1-year high of $91.22. The company’s fifty day moving average price is $87.66 and its 200-day moving average price is $79.45.

Oracle (NYSE:ORCL – Get Rating) last announced its quarterly earnings data on Thursday, March 9th. The enterprise software provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $12.42 billion. Oracle had a net margin of 17.46% and a negative return on equity of 262.40%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. As a group, research analysts anticipate that Oracle Co. will post 3.99 EPS for the current fiscal year.

Oracle Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 24th. Stockholders of record on Tuesday, April 11th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, April 10th. This is a positive change from Oracle’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.88%. Oracle’s payout ratio is 42.24%.

Oracle Profile

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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.