1ST Source Bank Sells 302 Shares of Oracle Co. (NYSE:ORCL)

1ST Source Bank lessened its position in shares of Oracle Co. (NYSE:ORCL) by 0.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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.

Several other hedge funds and other institutional investors have also bought and sold shares of ORCL. Vanguard Group Inc. grew its position in shares of Oracle by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 151,213,890 shares of the enterprise software provider’s stock worth $18,993,977,000 after buying an additional 1,514,569 shares during the period. Capital World Investors grew its holdings in Oracle by 0.4% in the first quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock worth $2,319,604,000 after purchasing an additional 82,551 shares during the period. Parnassus Investments LLC increased its stake in Oracle by 17.7% in 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 purchasing an additional 2,191,342 shares in the last quarter. Janus Henderson Group PLC raised its holdings 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 valued at $1,616,855,000 after purchasing an additional 7,699,141 shares during the period. Finally, Putnam Investments LLC raised its stake in Oracle by 6.0% during the 4th quarter. Putnam Investments LLC now owns 12,339,385 shares of the enterprise software provider’s stock worth $1,300,941,000 after buying an additional 697,961 shares during the period. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Trading Up 0.4 %

Shares of ORCL stock opened at $162.00 on Friday. Oracle Co. has a 12-month low of $99.26 and a 12-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 50 day moving average of $139.85 and a 200-day moving average of $129.90. The firm has a market cap of $446.45 billion, a P/E ratio of 43.67, a PEG ratio of 2.89 and a beta of 1.01.

Oracle (NYSE:ORCL) last released its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping 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 business had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. During the same period last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Oracle Co. will post 5.03 earnings per share for the current 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 given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a yield of 0.99%. Oracle’s dividend payout ratio is presently 43.13%.

Insider Transactions at Oracle

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler raised their price objective on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday. Barclays upped their price objective on shares of Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday. Jefferies Financial Group lifted their price objective on shares of Oracle from $150.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Oracle from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Finally, Citigroup boosted their price objective on Oracle from $140.00 to $157.00 and gave the stock a “neutral” rating in a report on Wednesday. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and a consensus target price of $159.68.

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.