Deseret Mutual Benefit Administrators Sells 3,061 Shares of Oracle Co. (NYSE:ORCL)

Deseret Mutual Benefit Administrators reduced its stake in shares of Oracle Co. (NYSE:ORCL) by 16.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,802 shares of the enterprise software provider’s stock after selling 3,061 shares during the period. Oracle accounts for 1.4% of Deseret Mutual Benefit Administrators’ investment portfolio, making the stock its 8th biggest holding. Deseret Mutual Benefit Administrators’ holdings in Oracle were worth $2,693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Fairway Wealth LLC bought a new position in shares of Oracle during the 2nd quarter valued at $27,000. POM Investment Strategies LLC bought a new position in Oracle during the second quarter valued at about $30,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Oracle in the second quarter worth about $35,000. Reston Wealth Management LLC acquired a new position in shares of Oracle during the 3rd quarter valued at about $44,000. Finally, Quest Partners LLC acquired a new position in shares of Oracle during the 2nd quarter valued at about $40,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on ORCL. Oppenheimer reaffirmed a “market perform” rating on shares of Oracle in a research report on Tuesday, September 10th. Guggenheim upped their price objective on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Barclays boosted their target price on shares of Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Morgan Stanley raised their price target on Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Finally, Mizuho lifted their price objective on Oracle from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Oracle presently has an average rating of “Moderate Buy” and a consensus target price of $168.52.

Insider Activity

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 42.20% of the stock is currently owned by corporate insiders.

Oracle Trading Down 0.0 %

Shares of Oracle stock opened at $181.17 on Thursday. The stock has a market capitalization of $502.03 billion, a P/E ratio of 46.71, a price-to-earnings-growth ratio of 3.12 and a beta of 1.02. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $182.10. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68. The company has a 50-day simple moving average of $165.58 and a 200 day simple moving average of $143.29.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. The company had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. Research analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Thursday, October 10th. Oracle’s payout ratio is presently 41.24%.

Oracle Profile

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.