1ST Source Bank Cuts Stock Holdings in Oracle Co. (NYSE:ORCL)

1ST Source Bank cut its stake in shares of Oracle Co. (NYSE:ORCL) by 0.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 47,827 shares of the enterprise software provider’s stock after selling 302 shares during the period. 1ST Source Bank’s holdings in Oracle were worth $6,753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORCL. Norges Bank bought a new stake in Oracle in the 4th quarter worth approximately $1,210,181,000. Janus Henderson Group PLC raised its stake in shares of Oracle by 148.8% during the first quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock worth $1,616,855,000 after acquiring an additional 7,699,141 shares in the last quarter. Capital World Investors lifted its holdings in shares of Oracle by 22.1% in the 4th quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock worth $1,938,242,000 after acquiring an additional 3,323,334 shares during the last quarter. PineStone Asset Management Inc. boosted its stake in shares of Oracle by 131.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock valued at $552,262,000 after purchasing an additional 2,219,450 shares in the last quarter. Finally, Parnassus Investments LLC grew its holdings in shares of Oracle by 17.7% during the 4th quarter. Parnassus Investments LLC now owns 14,599,902 shares of the enterprise software provider’s stock valued at $1,539,268,000 after purchasing an additional 2,191,342 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Evercore ISI increased their target price on Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America lifted their price target on Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley increased their price objective on Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Citigroup lifted their target price on shares of Oracle from $140.00 to $157.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $159.68.

Insiders Place Their Bets

In other Oracle news, Director Leon E. Panetta sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $137.89, for a total value of $2,068,350.00. Following the completion of the transaction, the director now owns 58,090 shares of the company’s stock, valued at approximately $8,010,030.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the completion of the sale, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Leon E. Panetta sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $137.89, for a total value of $2,068,350.00. Following the completion of the transaction, the director now directly owns 58,090 shares in the company, valued at $8,010,030.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,862,500 shares of company stock valued at $266,776,624. Corporate insiders own 42.80% of the company’s stock.

Oracle Stock Performance

Oracle stock opened at $162.00 on Friday. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $173.93. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68. The company has a market capitalization of $446.45 billion, a P/E ratio of 43.67, a PEG ratio of 2.89 and a beta of 1.01. The stock’s 50 day moving average is $139.85 and its 200 day moving average is $129.90.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. Oracle’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. On average, equities research analysts predict that Oracle Co. will post 5.03 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.99%. Oracle’s dividend payout ratio is 43.13%.

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.