Kentucky Retirement Systems Takes Position in Oracle Corp. (ORCL)
Kentucky Retirement Systems purchased a new position in shares of Oracle Corp. (NYSE:ORCL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 264,672 shares of the enterprise software provider’s stock, valued at approximately $10,833,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Camarda Financial Advisors LLC increased its stake in Oracle Corp. by 9.6% in the second quarter. Camarda Financial Advisors LLC now owns 2,443 shares of the enterprise software provider’s stock valued at $100,000 after buying an additional 215 shares during the last quarter. Cribstone Capital Management LLC purchased a new stake in Oracle Corp. during the second quarter valued at $102,000. WESPAC Advisors SoCal LLC increased its stake in Oracle Corp. by 20.8% in the second quarter. WESPAC Advisors SoCal LLC now owns 2,900 shares of the enterprise software provider’s stock valued at $119,000 after buying an additional 500 shares during the last quarter. FCM Investments TX increased its stake in Oracle Corp. by 20.0% in the second quarter. FCM Investments TX now owns 3,000 shares of the enterprise software provider’s stock valued at $123,000 after buying an additional 500 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in Oracle Corp. by 46.9% in the second quarter. Proficio Capital Partners LLC now owns 3,016 shares of the enterprise software provider’s stock valued at $124,000 after buying an additional 963 shares during the last quarter. Institutional investors and hedge funds own 57.97% of the company’s stock.
Shares of Oracle Corp. (NYSE:ORCL) traded down 0.97% during mid-day trading on Friday, reaching $39.86. 12,890,599 shares of the company were exchanged. The company has a market capitalization of $163.65 billion, a price-to-earnings ratio of 18.94 and a beta of 1.19. Oracle Corp. has a 12 month low of $33.13 and a 12 month high of $42.00. The firm’s 50-day moving average is $38.69 and its 200-day moving average is $39.87.
Oracle Corp. (NYSE:ORCL) last issued its quarterly earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.03. Oracle Corp. had a net margin of 24.16% and a return on equity of 22.10%. The company earned $8.60 billion during the quarter. During the same period in the previous year, the business posted $0.53 earnings per share. Oracle Corp.’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Oracle Corp. will post $2.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Friday, October 7th. Oracle Corp.’s dividend payout ratio (DPR) is presently 28.57%.
ORCL has been the subject of several analyst reports. Vetr raised Oracle Corp. from a “buy” rating to a “strong-buy” rating and set a $45.46 price objective for the company in a report on Monday, September 12th. Barclays PLC reissued a “buy” rating on shares of Oracle Corp. in a report on Monday, September 12th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $47.00 price objective on shares of Oracle Corp. in a report on Sunday, September 25th. Bank of America Corp. reissued a “buy” rating and issued a $48.00 price objective on shares of Oracle Corp. in a report on Thursday, September 22nd. Finally, Zacks Investment Research cut Oracle Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $45.25.
In other news, EVP Dorian Daley sold 16,065 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $39.61, for a total transaction of $636,334.65. Following the completion of the transaction, the executive vice president now directly owns 25,000 shares of the company’s stock, valued at approximately $990,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $38.42, for a total transaction of $144,075.00. Following the transaction, the director now directly owns 8,281 shares of the company’s stock, valued at $318,156.02. The disclosure for this sale can be found here. 29.00% of the stock is currently owned by company insiders.
About Oracle Corp.
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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