Oracle Corporation (NYSE:ORCL) Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Oracle Corporation (NYSE:ORCL) by 7.5%, selling 45,802 shares, leaving it with approximately $79 million worth of stock.
• Several institutional investors, including Tacita Capital Inc. and Private Wealth Management Group LLC, raised their stakes in Oracle during the first quarter, indicating ongoing confidence in the company's prospects.
• Oracle reported strong earnings with a 21.68% net margin and 11.3% revenue growth year-over-year, beating analysts' estimates and signaling robust performance in the enterprise software market.

State of New Jersey Common Pension Fund D trimmed its position in Oracle Corporation (NYSE:ORCL - Free Report) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 565,529 shares of the enterprise software provider's stock after selling 45,802 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Oracle were worth $79,067,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ORCL. Tacita Capital Inc raised its stake in Oracle by 6.0% during the 1st quarter. Tacita Capital Inc now owns 1,245 shares of the enterprise software provider's stock worth $174,000 after acquiring an additional 70 shares in the last quarter. Flynn Zito Capital Management LLC raised its stake in Oracle by 1.7% during the 1st quarter. Flynn Zito Capital Management LLC now owns 4,333 shares of the enterprise software provider's stock worth $606,000 after acquiring an additional 71 shares in the last quarter. Tiller Private Wealth Inc. raised its stake in Oracle by 4.6% during the 1st quarter. Tiller Private Wealth Inc. now owns 1,599 shares of the enterprise software provider's stock worth $224,000 after acquiring an additional 71 shares in the last quarter. Private Wealth Management Group LLC raised its stake in Oracle by 14.9% during the 1st quarter. Private Wealth Management Group LLC now owns 556 shares of the enterprise software provider's stock worth $78,000 after acquiring an additional 72 shares in the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. raised its stake in Oracle by 4.8% during the 1st quarter. Woodley Farra Manion Portfolio Management Inc. now owns 1,562 shares of the enterprise software provider's stock worth $218,000 after acquiring an additional 72 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Oracle

In other Oracle news, insider Michael D. Sicilia sold 15,880 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the completion of the sale, the insider directly owned 99,212 shares in the company, valued at $25,247,469.76. The trade was a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rona Alison Fairhead acquired 480 shares of the firm's stock in a transaction on Monday, July 7th. The shares were acquired at an average price of $233.87 per share, with a total value of $112,257.60. Following the completion of the purchase, the director owned 22,110 shares of the company's stock, valued at $5,170,865.70. This trade represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 444,183 shares of company stock valued at $86,521,198 in the last quarter. Insiders own 42.20% of the company's stock.

Oracle Stock Performance

NYSE:ORCL opened at $244.89 on Friday. The firm has a 50 day simple moving average of $229.06 and a 200-day simple moving average of $179.81. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $687.86 billion, a PE ratio of 56.43, a P/E/G ratio of 3.64 and a beta of 1.43. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $260.87.

Oracle (NYSE:ORCL - Get Free Report) last released its 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. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. Oracle's revenue was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Oracle Corporation will post 5 EPS for the current year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, July 10th. Oracle's payout ratio is presently 46.08%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stifel Nicolaus upgraded shares of Oracle from a "hold" rating to a "buy" rating and lifted their price target for the stock from $180.00 to $250.00 in a research note on Monday, June 30th. UBS Group raised their price objective on shares of Oracle from $250.00 to $280.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Cowen reissued a "buy" rating on shares of Oracle in a research report on Thursday, June 12th. KeyCorp raised their price objective on shares of Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Finally, Scotiabank assumed coverage on shares of Oracle in a research report on Thursday, July 17th. They set a "sector outperform" rating and a $300.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $222.75.

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.

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