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

1832 Asset Management L.P. cut its holdings in Oracle Co. (NYSE:ORCL) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,985,416 shares of the enterprise software provider’s stock after selling 167,638 shares during the quarter. Oracle accounts for approximately 0.5% of 1832 Asset Management L.P.’s holdings, making the stock its 23rd largest position. 1832 Asset Management L.P.’s holdings in Oracle were worth $562,741,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ORCL. Janus Henderson Group PLC raised its stake 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 valued at $1,616,855,000 after buying an additional 7,699,141 shares during the last quarter. Capital World Investors raised its stake in Oracle by 22.1% during the 4th quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock valued at $1,938,242,000 after buying an additional 3,323,334 shares during the last quarter. PineStone Asset Management Inc. raised its stake 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 valued at $552,262,000 after buying an additional 2,219,450 shares during the last quarter. Parnassus Investments LLC raised its stake in 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 buying an additional 2,191,342 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake 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 valued at $532,920,000 after buying an additional 2,093,893 shares during the last quarter. 42.44% of the stock is owned by institutional investors.

Oracle Stock Up 0.2 %

ORCL opened at $168.00 on Friday. The firm has a 50-day simple moving average of $142.30 and a two-hundred day simple moving average of $131.96. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $173.99. The company has a market capitalization of $465.52 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating 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 business had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Analysts forecast that Oracle Co. will post 5.01 earnings per share for the current fiscal year.

Oracle Announces Dividend

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

Insider Activity at Oracle

In related news, insider Edward Screven sold 37,221 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $140.19, for a total value of $5,218,011.99. Following the completion of the transaction, the insider now owns 2,626,764 shares of the company’s stock, valued at approximately $368,246,045.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Edward Screven sold 37,221 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $140.19, for a total value of $5,218,011.99. Following the completion of the transaction, the insider now owns 2,626,764 shares of the company’s stock, valued at approximately $368,246,045.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Maria Smith sold 6,320 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,610,402 shares of company stock valued at $230,556,257. Insiders own 42.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of research reports. Sanford C. Bernstein boosted their target price on shares of Oracle from $159.00 to $171.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Morgan Stanley upped their price objective on Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. KeyCorp upped their price objective on Oracle from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Melius upgraded Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Monday, September 16th. Finally, Stifel Nicolaus upped their price objective on Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $166.13.

Oracle 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.