Parsons Capital Management Inc. RI Sells 1,860 Shares of Oracle Co. (ORCL)


Parsons Capital Management Inc. RI decreased its holdings in shares of Oracle Co. (NYSE:ORCL) by 1.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 157,723 shares of the enterprise software provider’s stock after selling 1,860 shares during the quarter. Oracle makes up approximately 0.8% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 25th largest position. Parsons Capital Management Inc. RI’s holdings in Oracle were worth $7,216,000 at the end of the most recent quarter.


Other institutional investors and hedge funds have also made changes to their positions in the company. Two Sigma Advisers LP lifted its position in Oracle by 738.5% in the fourth quarter. Two Sigma Advisers LP now owns 588,484 shares of the enterprise software provider’s stock valued at $27,824,000 after purchasing an additional 518,300 shares during the period. Bank of Nova Scotia Trust Co. lifted its position in Oracle by 44.4% in the third quarter. Bank of Nova Scotia Trust Co. now owns 9,985 shares of the enterprise software provider’s stock valued at $482,000 after purchasing an additional 3,071 shares during the period. Allegis Investment Advisors LLC lifted its position in Oracle by 16.5% in the fourth quarter. Allegis Investment Advisors LLC now owns 51,031 shares of the enterprise software provider’s stock valued at $2,413,000 after purchasing an additional 7,231 shares during the period. Wasatch Advisors Inc. lifted its position in Oracle by 38.6% in the fourth quarter. Wasatch Advisors Inc. now owns 220,792 shares of the enterprise software provider’s stock valued at $10,439,000 after purchasing an additional 61,530 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in Oracle by 4.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 10,864,577 shares of the enterprise software provider’s stock valued at $513,678,000 after purchasing an additional 463,760 shares during the period. Institutional investors and hedge funds own 57.79% of the company’s stock.


Get Oracle alerts:

A number of equities research analysts recently commented on ORCL shares. Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of Oracle in a research report on Tuesday, March 20th. Credit Suisse Group reaffirmed a “buy” rating and issued a $62.00 target price on shares of Oracle in a report on Sunday, February 18th. Morgan Stanley reaffirmed a “buy” rating on shares of Oracle in a report on Sunday, March 18th. JPMorgan Chase reaffirmed a “buy” rating and issued a $55.00 target price on shares of Oracle in a report on Tuesday, March 20th. Finally, Cleveland Research cut shares of Oracle from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. Seventeen research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $56.30.


In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $46.51, for a total value of $174,412.50. Following the completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $842,993.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Kurian sold 979,402 shares of Oracle stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $45.40, for a total transaction of $44,464,850.80. Following the completion of the sale, the insider now directly owns 114,871 shares of the company’s stock, valued at $5,215,143.40. The disclosure for this sale can be found here. Insiders sold a total of 2,557,015 shares of company stock valued at $117,480,315 over the last ninety days. 29.00% of the stock is owned by corporate insiders.


ORCL stock opened at $46.54 on Friday. The company has a market capitalization of $193.44 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.73 and a beta of 1.15. The company has a debt-to-equity ratio of 1.16, a current ratio of 4.33 and a quick ratio of 4.30. Oracle Co. has a one year low of $46.46 and a one year high of $46.74.

Oracle (NYSE:ORCL) last released its earnings results on Monday, March 19th. The enterprise software provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.11. The firm had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Oracle had a net margin of 9.25% and a return on equity of 21.77%. Oracle’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 EPS. sell-side analysts expect that Oracle Co. will post 2.76 EPS for the current year.


The company also recently announced a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 17th were paid a $0.19 dividend. The ex-dividend date was Monday, April 16th. This represents a $0.76 annualized dividend and a yield of 1.63%. Oracle’s payout ratio is currently 30.52%.

Oracle declared that its Board of Directors has authorized a share buyback plan on Friday, February 2nd that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.


Oracle Profile

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

Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Co. (NYSE:ORCL).

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

Leave a Reply

Your email address will not be published. Required fields are marked *