South Dakota Investment Council Cuts Stake in Oracle Co.

South Dakota Investment Council has reduced its stake in Oracle Co. (NYSE:ORCL - Free Report) by 3.1% during the fourth quarter, according to the investment firm's latest filing with the Securities and Exchange Commission. After selling 2,022 shares during this period, the institutional investor now owns 63,101 shares of the enterprise software provider. As of the most recent filing, South Dakota Investment Council's holdings in Oracle were valued at approximately $10.52 million.

Other institutional investors have also adjusted their positions in Oracle shares. State Street Corp increased its stake by 2.7% in the previous quarter and now holds 70,441,556 shares valued at $12 billion after acquiring an additional 1,847,561 shares. Similarly, Geode Capital Management LLC raised its stake by 2.6% to own 35,194,683 shares worth about $5.98 billion after buying 885,041 more shares. Franklin Resources Inc. also boosted its stake significantly, by 11.6%, now owning 18,480,384 shares worth $3.37 billion after purchasing 1,917,416 shares. Furthermore, Fisher Asset Management LLC increased its ownership by 1.8%, bringing its total to 17,898,029 shares valued at approximately $3.05 billion. Lastly, Janus Henderson Group PLC raised its stake by 0.4%, ending up with 14,608,951 shares amounting to about $2.49 billion.

Insider Trading Activity

In related news, Oracle's CEO, Safra Catz, sold 2,101,154 shares of the company's stock in a transaction date of January 22. The shares were sold at an average price of $185.35, amounting to a total of nearly $389.45 million. Following this transaction, Catz holds 1,118,592 shares valued at around $207.33 million, indicating a 65.26% decrease in her ownership. This transaction was disclosed in a filing with the SEC, where insiders currently own approximately 42.20% of the company’s shares.

Analyst Ratings Update

Several research analysts have recently provided updates on Oracle shares. UBS Group raised its target price from $200.00 to $210.00 while maintaining a 'buy' rating. Evercore ISI also increased its target from $190.00 to $200.00 while endorsing an 'outperform' rating. Mizuho set a new target of $210.00, up from $185.00, also giving an 'outperform' rating. Morgan Stanley raised its target from $145.00 to $175.00 but assigned an 'equal weight' rating. Meanwhile, Monness Crespi & Hardt downgraded the stock from 'neutral' to 'sell,' setting a target price of $130.00. Overall, one research analyst has issued a 'sell' rating, eleven have a 'hold' rating, eighteen a 'buy' rating, and one a 'strong buy' rating for Oracle. The stock carries a consensus rating of 'Moderate Buy' and an average price target of $182.73 according to MarketBeat.com.

Current Market Performance

As for current market performance, Oracle shares opened at $167.92 recently. The company has experienced a 52-week low of $109.66 and a high of $198.31. The stock boasts a market capitalization of $469.66 billion, a P/E ratio of 41.06, and a P/E/G ratio of 3.46. According to the company's earnings data released on December 9, Oracle recorded $1.47 earnings per share (EPS) for the last quarter, falling short of analysts' consensus estimates of $1.48. The company reported revenue of $14.06 billion for the quarter, just below expectations of $14.12 billion but showing an 8.6% year-over-year increase.

Dividend Announcement

Additionally, Oracle has recently declared a quarterly dividend of $0.40 per share, payable on January 9, for stockholders of record from January 23. This results in an annualized dividend of $1.60, yielding a 0.95% return, with an ex-dividend date set for January 10. The company's current dividend payout ratio is approximately 39.12%.

Company Overview

Oracle Corporation is a major player in the field of enterprise information technology. Its portfolio includes a wide range of cloud software services such as Oracle Fusion cloud applications in enterprise resource planning (ERP), enterprise performance management, and supply chain management, among others. It also offers specialized services in healthcare and advertising.

Oracle, Investment, Shares