Parsons Capital Management Inc. RI Sells 2,566 Shares of Oracle Co. (NYSE:ORCL)

Parsons Capital Management Inc. RI lowered its position in shares of Oracle Co. (NYSE:ORCL) by 2.0% in the second quarter, HoldingsChannel reports. The firm owned 122,925 shares of the enterprise software provider’s stock after selling 2,566 shares during the period. Oracle makes up approximately 1.2% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 13th biggest holding. Parsons Capital Management Inc. RI’s holdings in Oracle were worth $17,357,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westend Capital Management LLC bought a new position in shares of Oracle in the 1st quarter worth $25,000. Tidemark LLC bought a new position in Oracle during the fourth quarter worth about $29,000. Nordwand Advisors LLC bought a new position in Oracle during the fourth quarter worth about $30,000. Frank Rimerman Advisors LLC bought a new stake in shares of Oracle in the fourth quarter valued at about $30,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Oracle in the second quarter valued at about $35,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Stock Up 0.3 %

Shares of NYSE ORCL traded up $0.45 on Monday, reaching $137.92. 3,622,823 shares of the company’s stock traded hands, compared to its average volume of 8,260,227. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $146.59. The business’s 50 day simple moving average is $138.66 and its two-hundred day simple moving average is $126.05. The company has a market cap of $380.09 billion, a price-to-earnings ratio of 37.18, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 8.25.

Oracle (NYSE:ORCL) last issued its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.02). The company had revenue of $14.29 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Oracle had a return on equity of 223.01% and a net margin of 19.76%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.35 EPS. As a group, equities research analysts forecast that Oracle Co. will post 5.02 EPS for the current fiscal year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.16%. Oracle’s dividend payout ratio is currently 43.13%.

Insider Buying and Selling at Oracle

In other Oracle news, insider Edward Screven sold 235,918 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the sale, the insider now directly owns 2,626,764 shares of the company’s stock, valued at approximately $379,042,045.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Leon E. Panetta sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the transaction, the director now owns 58,090 shares in the company, valued at approximately $8,010,030.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward Screven sold 235,918 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $144.30, for a total transaction of $34,042,967.40. Following the transaction, the insider now owns 2,626,764 shares of the company’s stock, valued at approximately $379,042,045.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,862,500 shares of company stock worth $266,776,624. Insiders own 42.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ORCL shares. Mizuho boosted their price target on Oracle from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. Argus boosted their price target on Oracle from $145.00 to $159.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. KeyCorp lifted their target price on Oracle from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, June 12th. Citigroup lowered their target price on Oracle from $133.00 to $128.00 and set a “neutral” rating on the stock in a research report on Monday, June 10th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $105.00 target price on shares of Oracle in a research report on Wednesday, June 12th. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.83.

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.