Municipal Employees Retirement System of Michigan lowered its position in shares of Oracle Corporation (NYSE:ORCL) by 12.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,490 shares of the enterprise software provider’s stock after selling 20,070 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Oracle were worth $6,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ORCL. Tower Bridge Advisors increased its holdings in Oracle by 6.1% in the 3rd quarter. Tower Bridge Advisors now owns 274,130 shares of the enterprise software provider’s stock valued at $13,254,000 after purchasing an additional 15,690 shares during the last quarter. Retirement Systems of Alabama increased its holdings in Oracle by 0.3% in the 3rd quarter. Retirement Systems of Alabama now owns 3,028,556 shares of the enterprise software provider’s stock valued at $146,431,000 after purchasing an additional 8,687 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its holdings in Oracle by 10.6% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 27,215 shares of the enterprise software provider’s stock valued at $1,316,000 after purchasing an additional 2,600 shares during the last quarter. YHB Investment Advisors Inc. increased its holdings in Oracle by 24.7% in the 3rd quarter. YHB Investment Advisors Inc. now owns 275,142 shares of the enterprise software provider’s stock valued at $13,303,000 after purchasing an additional 54,546 shares during the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC increased its holdings in Oracle by 4.1% in the 3rd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 26,377 shares of the enterprise software provider’s stock valued at $1,275,000 after purchasing an additional 1,037 shares during the last quarter. Institutional investors and hedge funds own 57.89% of the company’s stock.

In related news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total value of $183,112.50. Following the completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at $885,043.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the sale, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,250 shares of company stock valued at $5,306,238. Corporate insiders own 29.00% of the company’s stock.

Several equities analysts have commented on ORCL shares. Canaccord Genuity started coverage on shares of Oracle in a research note on Friday, October 6th. They issued a “buy” rating and a $57.00 price target for the company. Wedbush restated a “buy” rating and issued a $58.00 price target on shares of Oracle in a research note on Friday, December 15th. BTIG Research restated a “buy” rating and issued a $58.00 price target on shares of Oracle in a research note on Tuesday, September 19th. JPMorgan Chase & Co. set a $55.00 price target on shares of Oracle and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, BidaskClub upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $55.28.

Shares of Oracle Corporation (NYSE:ORCL) opened at $49.51 on Friday. The stock has a market cap of $206,630.00, a price-to-earnings ratio of 21.25, a PEG ratio of 1.87 and a beta of 1.05. Oracle Corporation has a 1 year low of $38.88 and a 1 year high of $53.14. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. research analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current year.

Oracle announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.54%. Oracle’s dividend payout ratio (DPR) is currently 32.62%.

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About Oracle

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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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