Teachers Retirement System of The State of Kentucky lessened its stake in Oracle Co. (NYSE:ORCL) by 20.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 434,924 shares of the enterprise software provider’s stock after selling 109,600 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Oracle were worth $24,038,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of ORCL. Glassman Wealth Services increased its stake in Oracle by 1.9% during the 2nd quarter. Glassman Wealth Services now owns 9,817 shares of the enterprise software provider’s stock valued at $543,000 after purchasing an additional 187 shares in the last quarter. Tarbox Family Office Inc. raised its stake in Oracle by 13.8% in the 2nd quarter. Tarbox Family Office Inc. now owns 1,609 shares of the enterprise software provider’s stock valued at $89,000 after acquiring an additional 195 shares during the period. Princeton Portfolio Strategies Group LLC increased its position in shares of Oracle by 1.1% during the first quarter. Princeton Portfolio Strategies Group LLC now owns 17,437 shares of the enterprise software provider’s stock valued at $843,000 after buying an additional 197 shares during the period. Inlet Private Wealth LLC increased its position in shares of Oracle by 0.7% during the second quarter. Inlet Private Wealth LLC now owns 27,852 shares of the enterprise software provider’s stock valued at $1,539,000 after buying an additional 200 shares during the period. Finally, Hunter Associates Investment Management LLC increased its position in shares of Oracle by 2.1% in the first quarter. Hunter Associates Investment Management LLC now owns 9,749 shares of the enterprise software provider’s stock worth $471,000 after purchasing an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 48.24% of the company’s stock.
Shares of NYSE:ORCL traded up $1.48 on Tuesday, hitting $60.94. 30,331,292 shares of the company traded hands, compared to its average volume of 13,621,295. Oracle Co. has a 52 week low of $39.71 and a 52 week high of $61.86. The company has a quick ratio of 3.03, a current ratio of 2.66 and a debt-to-equity ratio of 6.68. The stock has a 50 day simple moving average of $55.85 and a 200-day simple moving average of $53.19. The company has a market cap of $187.01 billion, a PE ratio of 19.10, a PEG ratio of 1.44 and a beta of 0.83.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 8th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, October 7th. This represents a $0.96 annualized dividend and a dividend yield of 1.58%. Oracle’s payout ratio is presently 27.75%.
In related news, Chairman Lawrence Joseph Ellison sold 1,400,000 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $54.11, for a total transaction of $75,754,000.00. Following the sale, the chairman now directly owns 1,140,132,353 shares of the company’s stock, valued at $61,692,561,620.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward Screven sold 700,000 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $54.14, for a total value of $37,898,000.00. Following the sale, the insider now directly owns 3,001,419 shares in the company, valued at $162,496,824.66. The disclosure for this sale can be found here. Insiders have sold 6,310,152 shares of company stock worth $345,266,871 over the last ninety days. 36.60% of the stock is currently owned by insiders.
Several analysts have issued reports on ORCL shares. Morgan Stanley upped their target price on Oracle from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday. BNP Paribas lowered Oracle from an “outperform” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Monday, June 1st. Royal Bank of Canada increased their price objective on Oracle from $51.00 to $60.00 and gave the company a “sector perform” rating in a research note on Friday. Argus lowered Oracle from a “buy” rating to a “hold” rating in a research note on Friday, June 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Oracle in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and nine have assigned a buy rating to the company. Oracle has an average rating of “Hold” and a consensus target price of $59.34.
Oracle Company 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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