Dai ichi Life Insurance Company Ltd Cuts Holdings in Oracle Co. (NYSE:ORCL)

Dai ichi Life Insurance Company Ltd lowered its holdings in Oracle Co. (NYSE:ORCL) by 45.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,323 shares of the enterprise software provider’s stock after selling 69,675 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Oracle were worth $11,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in Oracle during the fourth quarter valued at $1,210,181,000. Janus Henderson Group PLC lifted its stake in shares of Oracle by 148.8% in the 1st quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock worth $1,616,855,000 after purchasing an additional 7,699,141 shares during the period. Capital World Investors boosted its holdings in shares of Oracle by 22.1% in the fourth quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock worth $1,938,242,000 after buying an additional 3,323,334 shares during the last quarter. PineStone Asset Management Inc. grew its position in Oracle by 131.2% during the second 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 period. Finally, Parnassus Investments LLC increased its holdings 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 last quarter. 42.44% of the stock is owned by institutional investors.

Oracle Trading Up 0.4 %

ORCL stock opened at $162.00 on Friday. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $173.93. The stock has a market capitalization of $446.45 billion, a price-to-earnings ratio of 43.67, a price-to-earnings-growth ratio of 2.89 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. The firm’s fifty day simple moving average is $139.85 and its two-hundred day simple moving average is $129.90.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion for the quarter, compared to analyst estimates of $13.23 billion. During the same period in the prior year, the company posted $0.95 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Oracle Co. will post 5.03 earnings per share for the current year.

Oracle Announces Dividend

The firm 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.99%. The ex-dividend date is Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler upped their price objective on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday. Sanford C. Bernstein raised their price objective on Oracle from $159.00 to $171.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Bank of America boosted their price objective on Oracle from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday. Jefferies Financial Group raised their target price on shares of Oracle from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, TD Cowen upped their price target on shares of Oracle from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.68.

Oracle Company 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.