Retirement Systems of Alabama Increases Stock Holdings in Oracle Corporation (NYSE:ORCL)

Retirement Systems of Alabama grew its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 31.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,094,225 shares of the enterprise software provider's stock after purchasing an additional 258,761 shares during the period. Oracle makes up approximately 0.6% of Retirement Systems of Alabama's portfolio, making the stock its 28th biggest holding. Retirement Systems of Alabama's holdings in Oracle were worth $152,984,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ORCL. Rockland Trust Co. increased its stake in Oracle by 4.8% in the 1st quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock valued at $1,421,000 after purchasing an additional 467 shares in the last quarter. Cornerstone Advisory LLC grew its holdings in Oracle by 34.1% in the 4th quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider's stock valued at $2,258,000 after buying an additional 3,299 shares during the period. Peak Retirement Planning Inc. acquired a new position in Oracle during the fourth quarter worth approximately $211,000. Secure Asset Management LLC raised its position in shares of Oracle by 21.8% in the 1st quarter. Secure Asset Management LLC now owns 13,235 shares of the enterprise software provider's stock worth $1,850,000 after buying an additional 2,365 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Oracle in the 4th quarter worth about $51,084,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Oracle Trading Up 1.2%

Shares of NYSE:ORCL opened at $210.63 on Friday. The firm has a market cap of $589.13 billion, a price-to-earnings ratio of 48.53, a PEG ratio of 3.16 and a beta of 1.32. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $216.60. The company's fifty day simple moving average is $158.93 and its 200 day simple moving average is $161.36. The company has a quick ratio of 1.02, a current ratio of 0.75 and a debt-to-equity ratio of 4.07.

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

Oracle Announces Dividend

The business 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. This represents a $2.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle's payout ratio is presently 46.08%.

Insider Activity at Oracle

In other 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 value of $76,168,000.00. Following the completion of the sale, the insider now directly owns 1,097,576 shares of the company's stock, valued at $209,000,421.92. This trade represents a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Naomi O. Seligman sold 2,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $145.81, for a total value of $291,620.00. Following the sale, the director now directly owns 34,630 shares of the company's stock, valued at $5,049,400.30. This represents a 5.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 427,366 shares of company stock valued at $80,183,723. 42.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on ORCL shares. Bank of America boosted their price objective on shares of Oracle from $156.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Oracle in a research report on Wednesday. Loop Capital set a $135.00 price target on Oracle in a report on Tuesday, June 10th. Monness Crespi & Hardt upgraded Oracle from a "sell" rating to a "neutral" rating in a research note on Monday, March 3rd. Finally, Cowen reiterated a "buy" rating on shares of Oracle in a research note on Thursday, June 12th. Eleven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Oracle has an average rating of "Moderate Buy" and an average price target of $196.74.

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.

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