Municipal Employees Retirement System of Michigan lessened its position in Oracle Co. (NYSE:ORCL) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,200 shares of the enterprise software provider’s stock after selling 1,290 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Oracle were worth $6,581,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Oracle by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after buying an additional 5,270,359 shares during the period. Northern Trust Corp boosted its holdings in shares of Oracle by 4.6% during the 2nd quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock worth $2,110,799,000 after buying an additional 1,835,835 shares during the period. FMR LLC boosted its holdings in shares of Oracle by 24.8% during the 2nd quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock worth $1,658,750,000 after buying an additional 6,577,297 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Oracle by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 31,379,477 shares of the enterprise software provider’s stock worth $1,480,412,000 after buying an additional 1,141,974 shares during the period. Finally, Boston Partners boosted its holdings in shares of Oracle by 1.9% during the 4th quarter. Boston Partners now owns 24,380,374 shares of the enterprise software provider’s stock worth $1,152,704,000 after buying an additional 455,403 shares during the period. 58.01% of the stock is owned by institutional investors.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $46.08, for a total transaction of $172,800.00. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $835,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Kurian sold 137,843 shares of the business’s stock in a transaction that occurred on Monday, April 23rd. The stock was sold at an average price of $46.13, for a total transaction of $6,358,697.59. Following the sale, the insider now directly owns 160,826 shares in the company, valued at $7,418,903.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 349,093 shares of company stock valued at $16,102,685. 29.00% of the stock is owned by corporate insiders.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.11. The business had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Oracle had a net margin of 9.25% and a return on equity of 21.77%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. research analysts expect that Oracle Co. will post 2.76 earnings per share for the current fiscal year.
Oracle announced that its board has authorized a share buyback program on Friday, February 2nd that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Monday, April 16th. Oracle’s dividend payout ratio is 30.52%.
Several analysts recently commented on ORCL shares. ValuEngine raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 target price on shares of Oracle in a report on Tuesday, January 2nd. Morgan Stanley raised shares of Oracle from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $46.63 to $47.71 in a report on Wednesday, January 3rd. Vetr downgraded shares of Oracle from a “buy” rating to a “hold” rating and set a $51.82 price objective for the company. in a report on Wednesday, January 17th. Finally, Royal Bank of Canada set a $51.00 price objective on shares of Oracle and gave the company a “neutral” rating in a report on Monday, January 22nd. Seventeen analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $56.11.
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Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure technologies for information technology (IT) environments worldwide. It provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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