State of Michigan Retirement System Has $72.69 Million Stake in Oracle Co. (NYSE:ORCL)

State of Michigan Retirement System increased its position in Oracle Co. (NYSE:ORCL) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 436,232 shares of the enterprise software provider’s stock after buying an additional 900 shares during the period. State of Michigan Retirement System’s holdings in Oracle were worth $72,694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management increased its stake in Oracle by 21.9% during the third quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after acquiring an additional 56 shares during the period. Second Line Capital LLC lifted its position in shares of Oracle by 1.5% in the 3rd quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock worth $650,000 after acquiring an additional 58 shares during the period. Cadence Bank increased its position in shares of Oracle by 0.8% during the third quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock valued at $1,296,000 after purchasing an additional 59 shares during the period. Requisite Capital Management LLC raised its stake in shares of Oracle by 2.8% in the fourth quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider’s stock valued at $373,000 after purchasing an additional 60 shares in the last quarter. Finally, McLean Asset Management Corp raised its stake in shares of Oracle by 1.1% in the fourth quarter. McLean Asset Management Corp now owns 5,447 shares of the enterprise software provider’s stock valued at $908,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 42.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ORCL. Royal Bank of Canada reissued a “sector perform” rating and issued a $165.00 price target on shares of Oracle in a report on Thursday, December 5th. Monness Crespi & Hardt raised shares of Oracle from a “sell” rating to a “neutral” rating in a research note on Monday. Piper Sandler increased their price target on shares of Oracle from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Guggenheim upped their price objective on Oracle from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, KeyCorp increased their target price on Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Twelve investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $182.73.

Insider Activity at Oracle

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

Oracle Stock Down 2.5 %

Shares of ORCL opened at $161.91 on Tuesday. The firm has a market capitalization of $452.86 billion, a price-to-earnings ratio of 39.59, a PEG ratio of 3.46 and a beta of 1.05. Oracle Co. has a 52 week low of $110.36 and a 52 week high of $198.31. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81. The business’s fifty day moving average price is $168.79 and its two-hundred day moving average price is $169.01.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.01). The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $14.12 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. Oracle’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 EPS. On average, analysts predict that Oracle Co. will post 5 earnings per share for the current year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. Oracle’s payout ratio is currently 39.12%.

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.