Utah Retirement Systems Sells 23,900 Shares of Oracle Co. (NYSE:ORCL)

Utah Retirement Systems decreased its stake in shares of Oracle Co. (NYSE:ORCL) by 6.3% during the first quarter, HoldingsChannel reports. The firm owned 354,041 shares of the enterprise software provider’s stock after selling 23,900 shares during the quarter. Utah Retirement Systems’ holdings in Oracle were worth $24,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Oracle during the 4th quarter valued at about $1,107,842,000. Alliancebernstein L.P. lifted its position in Oracle by 20.9% during the 1st quarter. Alliancebernstein L.P. now owns 14,703,345 shares of the enterprise software provider’s stock valued at $1,031,734,000 after acquiring an additional 2,539,796 shares during the period. Fisher Asset Management LLC lifted its position in Oracle by 2.9% during the 1st quarter. Fisher Asset Management LLC now owns 14,341,957 shares of the enterprise software provider’s stock valued at $1,006,375,000 after acquiring an additional 407,791 shares during the period. Nuveen Asset Management LLC lifted its position in Oracle by 41.6% during the 4th quarter. Nuveen Asset Management LLC now owns 11,363,258 shares of the enterprise software provider’s stock valued at $735,090,000 after acquiring an additional 3,340,696 shares during the period. Finally, Morgan Stanley lifted its position in Oracle by 7.3% during the 1st quarter. Morgan Stanley now owns 11,134,452 shares of the enterprise software provider’s stock valued at $781,305,000 after acquiring an additional 755,333 shares during the period. 46.87% of the stock is currently owned by hedge funds and other institutional investors.

Oracle stock traded up $1.21 during mid-day trading on Thursday, reaching $90.90. 238,029 shares of the company’s stock traded hands, compared to its average volume of 12,391,457. The stock has a market capitalization of $253.79 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 2.49 and a beta of 0.79. The firm’s 50 day moving average price is $81.48. The company has a debt-to-equity ratio of 12.77, a quick ratio of 2.30 and a current ratio of 2.30. Oracle Co. has a 12-month low of $53.66 and a 12-month high of $90.25.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, June 14th. The enterprise software provider reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.23. Oracle had a net margin of 33.96% and a return on equity of 146.83%. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Oracle’s revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts forecast that Oracle Co. will post 4.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 29th. Stockholders of record on Thursday, July 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Wednesday, July 14th. Oracle’s dividend payout ratio is currently 30.77%.

In other news, insider Edward Screven sold 700,000 shares of the company’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $74.50, for a total value of $52,150,000.00. Following the transaction, the insider now directly owns 3,078,623 shares in the company, valued at $229,357,413.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Boskin sold 37,500 shares of the company’s stock in a transaction dated Friday, June 18th. The stock was sold at an average price of $76.66, for a total transaction of $2,874,750.00. Following the completion of the transaction, the director now owns 115,662 shares in the company, valued at $8,866,648.92. The disclosure for this sale can be found here. In the last three months, insiders sold 6,375,000 shares of company stock worth $500,046,000. Insiders own 39.10% of the company’s stock.

Several brokerages have issued reports on ORCL. Jefferies Financial Group lifted their target price on shares of Oracle from $75.00 to $80.00 and gave the stock a “hold” rating in a report on Wednesday, June 16th. Morgan Stanley lifted their target price on shares of Oracle from $73.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 16th. DZ Bank reaffirmed a “hold” rating and issued a $80.00 target price on shares of Oracle in a report on Tuesday, April 27th. Piper Sandler lifted their target price on shares of Oracle from $57.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, June 16th. Finally, Zacks Investment Research cut shares of Oracle from a “buy” rating to a “hold” rating and set a $83.00 price objective for the company. in a report on Thursday, May 6th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $76.31.

About Oracle

Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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