State of Michigan Retirement System Has $61.54 Million Stock Position in Oracle Corporation (NYSE:ORCL)

State of Michigan Retirement System increased its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,132 shares of the enterprise software provider's stock after buying an additional 3,900 shares during the quarter. State of Michigan Retirement System's holdings in Oracle were worth $61,535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Oracle by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 157,411,949 shares of the enterprise software provider's stock worth $26,231,127,000 after purchasing an additional 2,296,069 shares during the last quarter. FMR LLC lifted its position in shares of Oracle by 0.4% during the 4th quarter. FMR LLC now owns 38,002,902 shares of the enterprise software provider's stock valued at $6,332,803,000 after acquiring an additional 156,269 shares during the period. Geode Capital Management LLC boosted its position in shares of Oracle by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 35,814,302 shares of the enterprise software provider's stock worth $5,954,961,000 after purchasing an additional 619,619 shares in the last quarter. Franklin Resources Inc. grew its stake in Oracle by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 20,202,421 shares of the enterprise software provider's stock valued at $3,366,531,000 after acquiring an additional 1,722,037 shares during the period. Finally, Northern Trust Corp grew its position in Oracle by 12.5% in the 4th quarter. Northern Trust Corp now owns 19,620,534 shares of the enterprise software provider's stock valued at $3,269,566,000 after purchasing an additional 2,176,892 shares during the period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Roth Capital reiterated a "hold" rating on shares of Oracle in a report on Wednesday, June 18th. Westpark Capital boosted their target price on shares of Oracle from $195.00 to $246.00 and gave the company a "buy" rating in a report on Thursday, June 12th. JMP Securities set a $240.00 price objective on shares of Oracle and gave the company a "market outperform" rating in a research report on Thursday, June 12th. UBS Group set a $250.00 target price on Oracle and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Bank of America lifted their price objective on shares of Oracle from $156.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $209.33.

Oracle Price Performance

NYSE:ORCL opened at $235.08 on Friday. The company has a market capitalization of $660.30 billion, a P/E ratio of 54.17, a P/E/G ratio of 3.53 and a beta of 1.39. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $241.44. The business's 50-day moving average is $185.56 and its 200 day moving average is $166.09. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 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 quarter last year, the firm earned $1.63 EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts forecast that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.85%. Oracle's payout ratio is 46.08%.

Insiders Place Their Bets

In related news, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the transaction, the executive vice president owned 40,807 shares of the company's stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Naomi O. Seligman sold 2,866 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $149.53, for a total transaction of $428,552.98. Following the completion of the sale, the director directly owned 31,764 shares of the company's stock, valued at approximately $4,749,670.92. This trade represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 445,366 shares of company stock valued at $84,784,653 over the last quarter. Corporate insiders own 42.20% of the company's stock.

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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