1832 Asset Management L.P. Sells 167,638 Shares of Oracle Co. (NYSE:ORCL)

1832 Asset Management L.P. reduced its stake in Oracle Co. (NYSE:ORCL) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,985,416 shares of the enterprise software provider’s stock after selling 167,638 shares during the period. Oracle makes up about 0.5% of 1832 Asset Management L.P.’s holdings, making the stock its 23rd largest holding. 1832 Asset Management L.P. owned 0.14% of Oracle worth $562,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Oracle by 1.0% in the first quarter. Vanguard Group Inc. now owns 151,213,890 shares of the enterprise software provider’s stock worth $18,993,977,000 after acquiring an additional 1,514,569 shares during the period. Capital World Investors boosted its stake in Oracle by 0.4% during the first quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock valued at $2,319,604,000 after buying an additional 82,551 shares during the period. Parnassus Investments LLC boosted its stake in Oracle by 17.7% during the fourth quarter. Parnassus Investments LLC now owns 14,599,902 shares of the enterprise software provider’s stock valued at $1,539,268,000 after buying an additional 2,191,342 shares during the period. Janus Henderson Group PLC boosted its stake in 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 valued at $1,616,855,000 after buying an additional 7,699,141 shares during the period. Finally, Putnam Investments LLC boosted its stake in Oracle by 6.0% during the fourth quarter. Putnam Investments LLC now owns 12,339,385 shares of the enterprise software provider’s stock valued at $1,300,941,000 after buying an additional 697,961 shares during the period. 42.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ORCL shares. Piper Sandler lifted their price objective on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Guggenheim lifted their price objective on Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Stifel Nicolaus lifted their price objective on Oracle from $135.00 to $155.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Evercore ISI lifted their price objective on Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Melius Research raised Oracle from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.13.

Insider Buying and Selling at Oracle

In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of Oracle stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the sale, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the sale, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leon E. Panetta sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 three months, insiders have sold 1,610,402 shares of company stock valued at $230,556,257. 42.80% of the stock is currently owned by corporate insiders.

Oracle Stock Up 0.2 %

Shares of NYSE:ORCL opened at $168.00 on Friday. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $173.99. The company has a market cap of $465.52 billion, a PE ratio of 45.28, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50-day moving average is $142.30 and its 200 day moving average is $131.96.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the previous year, the business earned $0.95 EPS. Oracle’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Oracle Co. will post 5.01 EPS for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.95%. Oracle’s payout ratio is 43.13%.

About Oracle

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.