Oracle Co. (NYSE:ORCL) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC cut its holdings in Oracle Co. (NYSE:ORCL) by 14.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,143,996 shares of the enterprise software provider’s stock after selling 1,179,139 shares during the period. Oracle makes up 2.6% of Parnassus Investments LLC’s investment portfolio, making the stock its 12th largest position. Parnassus Investments LLC’s holdings in Oracle were worth $1,217,337,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ORCL. Janus Henderson Group PLC boosted its position in Oracle by 148.8% during the 1st quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock worth $1,616,855,000 after purchasing an additional 7,699,141 shares during the period. PineStone Asset Management Inc. boosted its position in Oracle by 131.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock worth $552,262,000 after purchasing an additional 2,219,450 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Oracle by 97.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,242,647 shares of the enterprise software provider’s stock worth $532,920,000 after purchasing an additional 2,093,893 shares during the period. International Assets Investment Management LLC boosted its position in Oracle by 16,023.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider’s stock worth $351,890,000 after purchasing an additional 2,052,275 shares during the period. Finally, Altshuler Shaham Ltd boosted its position in Oracle by 5,853.1% in the 2nd quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider’s stock valued at $219,224,000 after buying an additional 1,526,500 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Price Performance

NYSE ORCL opened at $185.75 on Tuesday. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $191.77. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The stock has a market cap of $514.72 billion, a price-to-earnings ratio of 47.87, a price-to-earnings-growth ratio of 3.39 and a beta of 1.02. The company has a 50-day moving average price of $173.06 and a two-hundred day moving average price of $147.56.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The firm had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. Oracle’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts forecast that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.86%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is 41.24%.

Analyst Upgrades and Downgrades

ORCL has been the subject of a number of analyst reports. Melius raised shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Monday, September 16th. Piper Sandler upped their price objective on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Citigroup upped their price objective on shares of Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. TD Cowen upped their price objective on shares of Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Sanford C. Bernstein upped their price objective on shares of Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Oracle currently has an average rating of “Moderate Buy” and a consensus price target of $169.52.

Insiders Place Their Bets

In other news, EVP Maria Smith sold 6,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were 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 trade represents a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.