Parcion Private Wealth LLC Decreases Holdings in Oracle Co. (NYSE:ORCL)

Parcion Private Wealth LLC reduced its holdings in shares of Oracle Co. (NYSE:ORCL) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,481 shares of the enterprise software provider’s stock after selling 1,145 shares during the quarter. Oracle makes up 0.8% of Parcion Private Wealth LLC’s investment portfolio, making the stock its 24th biggest holding. Parcion Private Wealth LLC’s holdings in Oracle were worth $9,246,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ORCL. Contour Asset Management LLC lifted its holdings in shares of Oracle by 41.5% in the 4th quarter. Contour Asset Management LLC now owns 2,192,950 shares of the enterprise software provider’s stock valued at $231,203,000 after buying an additional 643,490 shares during the period. Hancock Whitney Corp lifted its position in Oracle by 12.7% during the fourth quarter. Hancock Whitney Corp now owns 29,301 shares of the enterprise software provider’s stock worth $3,089,000 after buying an additional 3,291 shares during the period. Heritage Wealth Advisors boosted its position in shares of Oracle by 0.6% in the fourth quarter. Heritage Wealth Advisors now owns 16,995 shares of the enterprise software provider’s stock worth $1,792,000 after acquiring an additional 109 shares during the last quarter. Seven Mile Advisory boosted its holdings in shares of Oracle by 10.6% in the 4th quarter. Seven Mile Advisory now owns 5,236 shares of the enterprise software provider’s stock valued at $552,000 after purchasing an additional 502 shares during the last quarter. Finally, Goelzer Investment Management Inc. boosted its holdings in Oracle by 25.0% in the first quarter. Goelzer Investment Management Inc. now owns 7,492 shares of the enterprise software provider’s stock valued at $941,000 after acquiring an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Stock Performance

Shares of NYSE ORCL traded down $0.80 during midday trading on Friday, hitting $141.81. 11,154,796 shares of the company’s stock were exchanged, compared to its average volume of 8,056,655. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $146.59. The firm has a market capitalization of $390.81 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company’s 50 day moving average price is $138.72 and its 200 day moving average price is $128.33. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 8.25.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.02). The company had revenue of $14.29 billion during the quarter, compared to analyst estimates of $14.57 billion. Oracle had a net margin of 19.76% and a return on equity of 223.01%. Oracle’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 earnings per share. As a group, analysts predict that Oracle Co. will post 5.02 earnings per share for the current fiscal year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Thursday, July 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, July 11th. Oracle’s dividend payout ratio is 43.13%.

Insider Transactions at Oracle

In other Oracle news, insider Edward Screven sold 235,918 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Oracle news, Director Jeffrey Berg sold 22,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $143.12, for a total value of $3,220,200.00. Following the completion of the sale, the director now directly owns 210,712 shares in the company, valued at $30,157,101.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Screven sold 235,918 shares of the firm’s stock in a transaction dated 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 sale, the insider now 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. Over the last ninety days, insiders sold 1,862,500 shares of company stock worth $266,776,624. Corporate insiders own 42.80% of the company’s stock.

Analyst Ratings Changes

ORCL has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price target on shares of Oracle in a research report on Friday, July 12th. DA Davidson reiterated a “neutral” rating and set a $105.00 price objective on shares of Oracle in a research note on Wednesday, June 12th. Stifel Nicolaus lifted their target price on Oracle from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, June 12th. Sanford C. Bernstein lifted their price target on shares of Oracle from $159.00 to $171.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Finally, StockNews.com downgraded Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.83.

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.