Great Lakes Retirement Inc. Increases Stock Holdings in Oracle Corporation (NYSE:ORCL)

Great Lakes Retirement Inc. raised its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 112.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,939 shares of the enterprise software provider's stock after purchasing an additional 15,288 shares during the quarter. Great Lakes Retirement Inc.'s holdings in Oracle were worth $4,046,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ORCL. Sunbeam Capital Management LLC purchased a new position in shares of Oracle during the fourth quarter valued at $30,000. Hurley Capital LLC purchased a new position in Oracle in the fourth quarter valued at about $33,000. Synergy Investment Management LLC purchased a new position in Oracle in the fourth quarter valued at about $34,000. Mpwm Advisory Solutions LLC purchased a new position in Oracle in the fourth quarter valued at about $36,000. Finally, Fourth Dimension Wealth LLC purchased a new position in Oracle in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Insider Activity

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm's stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Leon E. Panetta sold 17,500 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the transaction, the director now owns 58,090 shares in the company, valued at $8,785,531.60. This represents a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 427,366 shares of company stock worth $80,183,723. 42.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ORCL. CIBC reiterated a "buy" rating on shares of Oracle in a research note on Monday, June 9th. Wall Street Zen lowered Oracle from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Mizuho dropped their price target on Oracle from $210.00 to $180.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Piper Sandler restated a "neutral" rating and set a $130.00 price target on shares of Oracle in a research note on Wednesday, June 11th. Finally, Jefferies Financial Group boosted their price target on Oracle from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Eleven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $194.32.

Oracle Trading Down 1.5%

ORCL traded down $3.25 during mid-day trading on Tuesday, hitting $207.85. 17,773,112 shares of the stock were exchanged, compared to its average volume of 9,799,461. The company has a current ratio of 0.75, a quick ratio of 1.02 and a debt-to-equity ratio of 4.07. The company has a market cap of $581.34 billion, a PE ratio of 47.89, a PEG ratio of 3.13 and a beta of 1.32. The firm's fifty day moving average is $154.61 and its two-hundred day moving average is $160.49. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $216.60.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. Oracle's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 EPS. Equities analysts forecast that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.96%. Oracle's payout ratio is currently 46.08%.

Oracle Company 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.