California Public Employees Retirement System Cuts Stake in Oracle Co. (NYSE:ORCL)

California Public Employees Retirement System lessened its stake in shares of Oracle Co. (NYSE:ORCL - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,909,609 shares of the enterprise software provider's stock after selling 717,754 shares during the quarter. California Public Employees Retirement System owned 0.14% of Oracle worth $651,497,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Howard Capital Management Group LLC boosted its position in shares of Oracle by 12.4% in the third quarter. Howard Capital Management Group LLC now owns 8,019 shares of the enterprise software provider's stock worth $1,366,000 after buying an additional 883 shares during the period. Principal Financial Group Inc. grew its position in Oracle by 5.3% in the third quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider's stock valued at $411,748,000 after acquiring an additional 121,874 shares during the period. United Bank grew its holdings in Oracle by 4.8% during the 3rd quarter. United Bank now owns 11,430 shares of the enterprise software provider's stock worth $1,948,000 after acquiring an additional 519 shares during the last quarter. Fred Alger Management LLC grew its position in shares of Oracle by 4.6% during the 3rd quarter. Fred Alger Management LLC now owns 28,210 shares of the enterprise software provider's stock worth $4,807,000 after buying an additional 1,240 shares during the period. Finally, Circle Wealth Management LLC boosted its stake in Oracle by 45.3% during the 3rd quarter. Circle Wealth Management LLC now owns 34,775 shares of the enterprise software provider's stock worth $5,926,000 after acquiring an additional 10,836 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

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Oracle Trading Down 0.6 %

ORCL stock traded down $0.80 during trading on Monday, reaching $140.07. The company had a trading volume of 15,507,040 shares, compared to its average volume of 8,989,460. The business has a 50 day moving average of $163.94 and a 200 day moving average of $170.31. The company has a market cap of $391.77 billion, a P/E ratio of 34.25, a PEG ratio of 3.46 and a beta of 1.07. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. Oracle Co. has a 52 week low of $112.78 and a 52 week high of $198.31.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings data on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.02). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm had revenue of $14.13 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same period last year, the company earned $1.41 earnings per share. The business's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is an increase from Oracle's previous quarterly dividend of $0.40. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.43%. Oracle's dividend payout ratio is presently 46.95%.

Analyst Ratings Changes

Several analysts recently commented on ORCL shares. JMP Securities reaffirmed a "market outperform" rating and set a $205.00 target price on shares of Oracle in a report on Wednesday, January 22nd. KeyCorp reaffirmed an "overweight" rating and issued a $200.00 price objective on shares of Oracle in a research report on Tuesday, March 11th. JPMorgan Chase & Co. lowered their target price on shares of Oracle from $140.00 to $135.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Morgan Stanley decreased their price target on Oracle from $175.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 11th. Finally, Piper Sandler lowered their target price on Oracle from $210.00 to $190.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Oracle currently has a consensus rating of "Moderate Buy" and an average price target of $178.00.

Insider Transactions at Oracle

In other news, CEO Safra Catz sold 2,101,154 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total transaction of $389,448,893.90. Following the sale, the chief executive officer now owns 1,118,592 shares of the company's stock, valued at approximately $207,331,027.20. This represents a 65.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 42.20% of the company's stock.

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.