Parallel Advisors LLC Sells 2,711 Shares of Oracle Corporation $ORCL

Key Points

• Parallel Advisors LLC reduced its holdings in Oracle Corporation by 4.1%, selling 2,711 shares during the second quarter, leaving them with a total of 64,139 shares valued at approximately $14 million.
• Recent analyst reports have been positive, with several firms raising their price targets for Oracle, including Evercore ISI and TD Cowen, now set between $340.00 and $375.00, indicating a strong outlook for the stock.
• Oracle announced a quarterly dividend of $0.50 per share, payable on October 23rd, with a yield of 0.7%, reflecting a payout ratio of 46.30%.

Parallel Advisors LLC reduced its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,139 shares of the enterprise software provider's stock after selling 2,711 shares during the period. Parallel Advisors LLC's holdings in Oracle were worth $14,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ORCL. Redmont Wealth Advisors LLC bought a new position in Oracle during the first quarter valued at approximately $27,000. Inlight Wealth Management LLC bought a new position in shares of Oracle in the first quarter worth approximately $28,000. Iron Horse Wealth Management LLC grew its holdings in shares of Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Sunbeam Capital Management LLC bought a new position in shares of Oracle in the fourth quarter worth approximately $30,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Oracle in the fourth quarter worth approximately $36,000. 42.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ORCL shares. Evercore ISI raised their target price on shares of Oracle from $270.00 to $340.00 and gave the stock an "outperform" rating in a report on Wednesday, September 10th. TD Cowen raised their target price on shares of Oracle from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Citigroup restated an "outperform" rating on shares of Oracle in a report on Wednesday. Melius Research raised their price target on Oracle from $270.00 to $370.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, Stifel Nicolaus raised their price target on Oracle from $250.00 to $350.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $296.84.

Oracle Stock Performance

Shares of Oracle stock opened at $292.07 on Monday. The stock has a market cap of $829.98 billion, a price-to-earnings ratio of 67.61, a PEG ratio of 3.16 and a beta of 1.46. The firm's 50-day moving average is $244.69 and its 200 day moving average is $190.68. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $345.72. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.62.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 0.7%. Oracle's payout ratio is 46.30%.

Insiders Place Their Bets

In other news, Director Naomi O. Seligman sold 3,303 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total transaction of $770,655.96. Following the completion of the sale, the director owned 31,447 shares of the company's stock, valued at $7,337,214.04. This represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rona Alison Fairhead purchased 480 shares of Oracle stock in a transaction dated Monday, July 7th. The shares were acquired at an average cost of $233.87 per share, with a total value of $112,257.60. Following the transaction, the director directly owned 22,110 shares in the company, valued at approximately $5,170,865.70. The trade was a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 44,183 shares of company stock worth $10,353,198 in the last quarter. Insiders own 42.20% of the company's stock.

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.

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