Kentucky Retirement Systems Sells 667 Shares of Oracle Corporation (NYSE:ORCL)

Kentucky Retirement Systems trimmed its position in shares of Oracle Corporation (NYSE:ORCL) by 0.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 109,173 shares of the enterprise software provider’s stock after selling 667 shares during the quarter. Kentucky Retirement Systems’ holdings in Oracle were worth $15,263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Oracle by 189.3% during the fourth quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock valued at $25,593,000 after purchasing an additional 100,494 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Oracle during the fourth quarter valued at $51,084,000. Revolve Wealth Partners LLC boosted its stake in shares of Oracle by 8.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock valued at $903,000 after purchasing an additional 404 shares during the period. Passumpsic Savings Bank purchased a new stake in shares of Oracle during the fourth quarter valued at $2,114,000. Finally, Dividend Assets Capital LLC boosted its stake in shares of Oracle by 24.6% during the fourth quarter. Dividend Assets Capital LLC now owns 35,144 shares of the enterprise software provider’s stock valued at $5,856,000 after purchasing an additional 6,938 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Oracle news, Director Leon E. Panetta sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $129.77, for a total value of $648,850.00. Following the sale, the director now owns 58,090 shares in the company, valued at approximately $7,538,339.30. This represents a 7.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider now owns 1,097,576 shares in the company, valued at $209,000,421.92. This trade represents a 26.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 442,366 shares of company stock worth $83,395,223. Corporate insiders own 42.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Oracle from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Oppenheimer reissued an “outperform” rating on shares of Oracle in a research note on Wednesday. Monness Crespi & Hardt raised shares of Oracle from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $130.00 price objective on shares of Oracle in a research note on Wednesday, June 11th. Finally, Mizuho lowered their price objective on shares of Oracle from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Eleven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $196.74.

Oracle Stock Performance

ORCL opened at $205.06 on Friday. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $216.60. The firm’s 50-day moving average price is $160.39 and its 200-day moving average price is $161.33. The company has a quick ratio of 1.02, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The company has a market cap of $573.53 billion, a P/E ratio of 47.25, a price-to-earnings-growth ratio of 3.08 and a beta of 1.32.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The company had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the company earned $1.63 EPS. Oracle’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts anticipate that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be given a $0.50 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.98%. Oracle’s dividend payout ratio is presently 46.08%.

Oracle 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.