Pictet Asset Management Ltd. Cuts Holdings in Oracle Co. (ORCL)

Pictet Asset Management Ltd. reduced its position in shares of Oracle Co. (NYSE:ORCL) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,622,374 shares of the enterprise software provider’s stock after selling 72,795 shares during the period. Pictet Asset Management Ltd.’s holdings in Oracle were worth $83,650,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in Oracle during the third quarter worth $107,000. WESPAC Advisors SoCal LLC acquired a new position in Oracle during the third quarter worth $119,000. ELM Advisors LLC acquired a new position in Oracle during the third quarter worth $122,000. Kiley Juergens Wealth Management LLC lifted its stake in Oracle by 70.9% during the third quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock worth $141,000 after purchasing an additional 1,140 shares in the last quarter. Finally, Palo Capital Inc. acquired a new position in Oracle during the third quarter worth $141,000. Institutional investors own 50.95% of the company’s stock.

In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $185,325.00. Following the transaction, the director now owns 27,969 shares of the company’s stock, valued at $1,382,227.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $50.93, for a total value of $6,707,277.28. Following the transaction, the executive vice president now directly owns 109,615 shares in the company, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,946 shares of company stock worth $7,257,365. Corporate insiders own 32.00% of the company’s stock.

Shares of ORCL stock opened at $48.76 on Friday. The stock has a market cap of $198.29 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.61 and a beta of 1.12. Oracle Co. has a 1 year low of $42.57 and a 1 year high of $53.48. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.43 and a current ratio of 3.43.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.26 billion. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 earnings per share. Analysts predict that Oracle Co. will post 3.06 earnings per share for the current year.

Oracle announced that its board has initiated a share buyback plan on Monday, September 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

A number of research analysts have commented on the company. Zacks Investment Research cut Oracle from a “hold” rating to a “sell” rating in a research note on Wednesday. Rosenblatt Securities restated a “hold” rating and set a $51.00 price target on shares of Oracle in a research note on Tuesday, October 30th. Nomura decreased their price target on Oracle from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. KeyCorp restated a “hold” rating on shares of Oracle in a research note on Friday, October 26th. Finally, Credit Suisse Group restated a “buy” rating and set a $60.00 price target on shares of Oracle in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $53.71.

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About Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

Further Reading: Put Option

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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