Retirement Systems of Alabama Cuts Stake in Oracle Corporation

The Retirement Systems of Alabama has significantly reduced its investment in Oracle Corporation (NYSE:ORCL - Free Report). In the latest quarterly filing with the Securities & Exchange Commission, the retirement system announced a 32.8% decrease in its holdings of Oracle's shares during the third quarter. Following this adjustment, the Retirement Systems of Alabama now possesses 832,926 shares of Oracle, having sold 405,885 shares in the previous quarter. The total value of this stake is estimated at $141,931,000 based on the latest filing.

Changes Among Other Investors

In addition to the Retirement Systems of Alabama, there have been various adjustments in stakes by other institutional investors regarding Oracle. Notably, Principal Financial Group Inc. increased its holdings in Oracle by 5.3% during the same quarter, now owning 2,416,362 shares valued at approximately $411,748,000 after acquiring an additional 121,874 shares.

Additionally, Itau Unibanco Holding S.A. upped its stake by 15.3% in the second quarter, holding 24,800 shares worth about $3,502,000 post-purchase of 3,300 more shares. Chase Investment Counsel Corp has entered a new position in Oracle in the third quarter valued at around $4,160,000. Oppenheimer Asset Management Inc. made a significant move, increasing its holdings by 79.6%, now owning 286,460 shares valued at $48,813,000 after adding 126,985 shares in that timeframe. Miura Global Management LLC has also acquired a new position in Oracle, estimated at $1,704,000.

Currently, institutional investors hold approximately 42.44% of Oracle's stock.

Analysts View on Oracle's Stock

Recent commentary from equity analysts has reflected various outlooks on Oracle. BNP Paribas upgraded Oracle to a "strong-buy" rating in a recent research note. Moreover, Oppenheimer maintained a "market perform" rating for Oracle shares. UBS Group lifted its price target for Oracle from $200.00 to $210.00 and assigned a "buy" rating, while JPMorgan Chase & Co. raised their target price from $110.00 to $120.00 with a "neutral" rating. Barclays also increased their target price from $160.00 to $172.00, labeling the stock as "overweight." Overall, Oracle has received twelve hold ratings, seventeen buy ratings, and one strong buy rating. The consensus target price currently stands at $183.63, according to MarketBeat.com.

Oracle Stock Performance

The shares of Oracle opened at $175.17 on the latest trading day, with a market capitalization of $489.94 billion. The company shows a price-to-earnings ratio of 42.86, a PEG ratio of 3.32, and a beta of 1.03. For the past year, Oracle has traded between a low of $99.36 and a high of $198.31. The stock features a debt-to-equity ratio of 5.65, a quick ratio of 0.72, and a current ratio of 0.81, with the 50-day simple moving average at $180.36 and the 200-day average at $155.36.

Company Earnings and Dividends

Oracle recently disclosed its quarterly earnings data. The company reported earnings of $1.47 per share, just below the expected $1.48 consensus. Moreover, Oracle's revenue for the quarter amounted to $14.06 billion, slightly below the $14.12 billion anticipated. The company has a net margin of 21.16% and impressive returns on equity at 133.25%. Year-over-year, Oracle's quarterly revenue reflects an increase of 8.6% compared to the previous year when it earned $1.34 per share. Analysts predict that Oracle will post earnings of $5.17 per share for the current financial year.

Furthermore, Oracle has declared a quarterly dividend to be paid on January 9th, with a record date set for January 23rd. Each share will receive a dividend of $0.40, translating to an annual dividend of $1.60 and a yield of 0.91%. Oracle's dividend payout ratio is reported at 39.12%.

Insider Transactions

In recent insider activity, EVP Maria Smith sold 6,320 Oracle shares on September 16th at an average price of $165.00, totaling $1,042,800. Following this transaction, Smith’s remaining shares amount to 42,889, valued at approximately $7,076,685, indicating a decrease of 12.84% in her holdings. Insider ownership stands at about 42.20% of Oracle stock.

Company Overview

Oracle Corporation provides a range of products and services tailored to global enterprise information technology environments. Their offerings include various cloud software applications such as Oracle Fusion Cloud ERP, Oracle Fusion Cloud human capital management, and Oracle Cerner healthcare, among others.

Retirement, Investment, Oracle