Parsons Capital Management Inc. RI Decreases Stock Holdings in Oracle Co. (NYSE:ORCL)

Parsons Capital Management Inc. RI reduced its stake in shares of Oracle Co. (NYSE:ORCL) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,382 shares of the enterprise software provider’s stock after selling 1,832 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Oracle were worth $6,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ORCL. Appleton Partners Inc. MA increased its holdings in shares of Oracle by 2.9% in the second quarter. Appleton Partners Inc. MA now owns 6,170 shares of the enterprise software provider’s stock valued at $351,000 after purchasing an additional 173 shares during the period. Northern Oak Wealth Management Inc. increased its holdings in shares of Oracle by 14.8% in the second quarter. Northern Oak Wealth Management Inc. now owns 1,378 shares of the enterprise software provider’s stock valued at $78,000 after purchasing an additional 178 shares during the period. Wedgewood Investors Inc. PA increased its holdings in shares of Oracle by 4.1% in the first quarter. Wedgewood Investors Inc. PA now owns 4,650 shares of the enterprise software provider’s stock valued at $250,000 after purchasing an additional 185 shares during the period. Slow Capital Inc. increased its holdings in shares of Oracle by 1.1% in the second quarter. Slow Capital Inc. now owns 17,403 shares of the enterprise software provider’s stock valued at $991,000 after purchasing an additional 197 shares during the period. Finally, Field & Main Bank increased its holdings in shares of Oracle by 5.7% in the second quarter. Field & Main Bank now owns 3,709 shares of the enterprise software provider’s stock valued at $211,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 54.23% of the company’s stock.

A number of research analysts have recently weighed in on ORCL shares. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Wednesday, May 15th. BMO Capital Markets restated a “market perform” rating and issued a $59.00 target price (up previously from $53.00) on shares of Oracle in a research note on Thursday, June 20th. ValuEngine downgraded Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their target price on Oracle from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, Wells Fargo & Co upped their target price on Oracle from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company. Oracle presently has a consensus rating of “Hold” and a consensus price target of $54.76.

In other news, CAO W Corey West sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $56.25, for a total value of $2,812,500.00. Following the transaction, the chief accounting officer now owns 85,348 shares in the company, valued at $4,800,825. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Naomi O. Seligman sold 90,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $59.52, for a total value of $5,356,800.00. Following the completion of the transaction, the director now owns 82,310 shares in the company, valued at approximately $4,899,091.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,352,500 shares of company stock worth $76,708,925. Company insiders own 32.00% of the company’s stock.

ORCL stock traded down $0.09 during mid-day trading on Thursday, reaching $52.24. 6,199,788 shares of the company’s stock were exchanged, compared to its average volume of 10,297,502. The firm has a market capitalization of $177.57 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.55 and a beta of 1.15. The firm has a 50 day moving average of $57.26. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 2.31. Oracle Co. has a 12-month low of $42.40 and a 12-month high of $60.50.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $10.93 billion. Oracle had a return on equity of 40.95% and a net margin of 28.06%. Oracle’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 earnings per share. Analysts predict that Oracle Co. will post 3.5 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th were given a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.84%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.

Oracle Company Profile

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.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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