Deseret Mutual Benefit Administrators Decreases Stake in Oracle Corporation (NYSE:ORCL)

Deseret Mutual Benefit Administrators lessened its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 14.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,364 shares of the enterprise software provider's stock after selling 2,321 shares during the quarter. Oracle accounts for about 0.9% of Deseret Mutual Benefit Administrators' investment portfolio, making the stock its 14th largest holding. Deseret Mutual Benefit Administrators' holdings in Oracle were worth $1,868,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. New Millennium Group LLC increased its position in shares of Oracle by 21.1% in the first quarter. New Millennium Group LLC now owns 7,072 shares of the enterprise software provider's stock worth $989,000 after acquiring an additional 1,233 shares in the last quarter. Smith Salley Wealth Management increased its holdings in Oracle by 9.9% in the 1st quarter. Smith Salley Wealth Management now owns 4,592 shares of the enterprise software provider's stock valued at $642,000 after purchasing an additional 412 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in Oracle in the first quarter valued at about $88,000. Beaton Management Co. Inc. lifted its stake in shares of Oracle by 1.4% during the first quarter. Beaton Management Co. Inc. now owns 7,469 shares of the enterprise software provider's stock worth $1,044,000 after purchasing an additional 100 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in shares of Oracle by 16.9% during the first quarter. Koshinski Asset Management Inc. now owns 11,923 shares of the enterprise software provider's stock worth $1,667,000 after purchasing an additional 1,722 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company's stock.

Oracle Trading Up 4.2%

Oracle stock opened at $218.98 on Tuesday. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $228.22. The firm's 50-day moving average is $170.34 and its 200-day moving average is $162.47. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $615.08 billion, a P/E ratio of 50.46, a PEG ratio of 3.15 and a beta of 1.32.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. Oracle's quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.91%. Oracle's payout ratio is currently 46.08%.

Analyst Ratings Changes

Several equities analysts recently commented on ORCL shares. CIBC reissued a "buy" rating on shares of Oracle in a research report on Monday, June 9th. The Goldman Sachs Group reiterated a "neutral" rating and set a $195.00 price objective (up previously from $145.00) on shares of Oracle in a research note on Friday, June 13th. Cantor Fitzgerald decreased their target price on shares of Oracle from $214.00 to $175.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. raised their price target on shares of Oracle from $135.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $240.00 price objective (up from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Ten research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $200.26.

Insider Buying and Selling

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the transaction, the insider owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the transaction, the insider owned 1,097,576 shares of the company's stock, valued at $209,000,421.92. This represents a 26.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 442,366 shares of company stock valued at $83,395,223 over the last three months. Corporate insiders own 42.20% of the company's stock.

About Oracle

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.

Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Corporation (NYSE:ORCL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.