State Treasurer State of Michigan Decreases Position in Oracle Co. (ORCL)

State Treasurer State of Michigan cut its holdings in shares of Oracle Co. (NYSE:ORCL) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,484,960 shares of the enterprise software provider’s stock after selling 40,000 shares during the period. State Treasurer State of Michigan’s holdings in Oracle were worth $76,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Command Financial Services Inc. increased its stake in shares of Oracle by 945.0% during the third quarter. First Command Financial Services Inc. now owns 9,405 shares of the enterprise software provider’s stock worth $484,000 after purchasing an additional 8,505 shares in the last quarter. F&V Capital Management LLC increased its stake in shares of Oracle by 1.1% during the third quarter. F&V Capital Management LLC now owns 106,875 shares of the enterprise software provider’s stock worth $5,510,000 after purchasing an additional 1,125 shares in the last quarter. Alpha Cubed Investments LLC increased its stake in shares of Oracle by 26.6% during the third quarter. Alpha Cubed Investments LLC now owns 37,257 shares of the enterprise software provider’s stock worth $1,773,000 after purchasing an additional 7,817 shares in the last quarter. Brightworth purchased a new stake in shares of Oracle during the third quarter worth about $245,000. Finally, Palo Capital Inc. purchased a new stake in shares of Oracle during the third quarter worth about $141,000. Institutional investors own 53.45% of the company’s stock.

A number of analysts have recently commented on ORCL shares. Nomura set a $58.00 target price on shares of Oracle and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Credit Suisse Group reissued a “buy” rating and set a $60.00 target price on shares of Oracle in a research note on Tuesday, September 18th. Goldman Sachs Group reissued a “buy” rating and set a $55.00 target price on shares of Oracle in a research note on Tuesday, September 18th. KeyCorp reissued a “hold” rating on shares of Oracle in a research note on Wednesday, September 12th. Finally, Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Seventeen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.71.

In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $47.26, for a total transaction of $177,225.00. Following the sale, the director now directly owns 27,969 shares in the company, valued at approximately $1,321,814.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Dorian Daley sold 131,696 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the sale, the executive vice president now owns 109,615 shares in the company, valued at $5,582,691.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,946 shares of company stock worth $7,248,965. 32.00% of the stock is owned by company insiders.

Shares of ORCL stock opened at $48.57 on Wednesday. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 1.41. Oracle Co. has a one year low of $42.57 and a one year high of $53.48. The company has a market capitalization of $195.89 billion, a PE ratio of 17.22, a P/E/G ratio of 1.58 and a beta of 1.15.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The firm had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.26 billion. During the same period in the prior year, the business posted $0.62 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts expect that Oracle Co. will post 3.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, October 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.56%. Oracle’s dividend payout ratio (DPR) is presently 26.95%.

Oracle announced that its board has initiated a share buyback program on Monday, September 17th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Oracle Profile

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company 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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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