IBM Retirement Fund decreased its holdings in Oracle Co. (NYSE:ORCL) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,915 shares of the enterprise software provider’s stock after selling 1,968 shares during the period. IBM Retirement Fund’s holdings in Oracle were worth $2,759,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ORCL. Modus Advisors LLC bought a new position in shares of Oracle in the 2nd quarter valued at about $25,000. Lloyd Advisory Services LLC. bought a new stake in Oracle in the fourth quarter worth about $26,000. Balentine LLC bought a new stake in Oracle in the first quarter worth about $31,000. ERTS Wealth Advisors LLC bought a new stake in Oracle in the fourth quarter worth about $36,000. Finally, Ellevest Inc. lifted its stake in Oracle by 38.4% in the first quarter. Ellevest Inc. now owns 797 shares of the enterprise software provider’s stock worth $39,000 after purchasing an additional 221 shares during the last quarter. 48.14% of the stock is owned by hedge funds and other institutional investors.

ORCL has been the topic of a number of research reports. Citigroup raised their target price on shares of Oracle from $45.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Needham & Company LLC initiated coverage on shares of Oracle in a research report on Monday, June 15th. They set a “hold” rating on the stock. BNP Paribas lowered shares of Oracle from an “outperform” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research report on Monday, June 1st. Sanford C. Bernstein reaffirmed a “buy” rating and set a $59.00 target price on shares of Oracle in a research report on Monday, June 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Oracle from $55.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Oracle presently has an average rating of “Hold” and an average price target of $55.16.

In other news, CEO Safra Catz sold 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $51.73, for a total value of $51,730,000.00. Following the transaction, the chief executive officer now directly owns 2,368,592 shares in the company, valued at approximately $122,527,264.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Lawrence Joseph Ellison sold 1,400,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $55.60, for a total transaction of $77,840,000.00. Following the completion of the transaction, the chairman now owns 1,140,132,353 shares in the company, valued at $63,391,358,826.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,300,000 shares of company stock worth $396,376,000. Company insiders own 36.60% of the company’s stock.

NYSE ORCL traded up $0.35 during trading hours on Wednesday, hitting $56.66. 1,305,736 shares of the company’s stock traded hands, compared to its average volume of 16,329,232. The company has a debt-to-equity ratio of 5.44, a current ratio of 3.03 and a quick ratio of 3.03. The company has a market capitalization of $173.69 billion, a PE ratio of 18.15, a PEG ratio of 1.43 and a beta of 0.87. The firm’s 50-day moving average is $53.82 and its 200-day moving average is $52.58. Oracle Co. has a 52-week low of $39.71 and a 52-week high of $60.50.

Oracle (NYSE:ORCL) last posted its earnings results on Tuesday, June 16th. The enterprise software provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The company had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.72 billion. Oracle had a net margin of 25.94% and a return on equity of 72.76%. Oracle’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 EPS. Equities research analysts predict that Oracle Co. will post 3.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Wednesday, July 15th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, July 14th. This represents a $0.96 annualized dividend and a dividend yield of 1.69%. Oracle’s dividend payout ratio is currently 27.75%.

Oracle announced that its board has initiated a share buyback program on Thursday, March 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to purchase up to 9.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Oracle Company Profile

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

Read More: Cost of equity and a company’s balance sheet

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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