Varma Mutual Pension Insurance Co Sells 57,222 Shares of Oracle Co. (NYSE:ORCL)

Varma Mutual Pension Insurance Co reduced its holdings in shares of Oracle Co. (NYSE:ORCL) by 18.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,982 shares of the enterprise software provider’s stock after selling 57,222 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Oracle were worth $34,874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ORCL. Werlinich Asset Management LLC boosted its holdings in shares of Oracle by 3.1% in the 2nd quarter. Werlinich Asset Management LLC now owns 2,325 shares of the enterprise software provider’s stock worth $326,000 after buying an additional 70 shares during the last quarter. RFP Financial Group LLC boosted its stake in Oracle by 2.7% in the second quarter. RFP Financial Group LLC now owns 2,869 shares of the enterprise software provider’s stock valued at $405,000 after acquiring an additional 75 shares during the last quarter. ERn Financial LLC grew its position in shares of Oracle by 0.6% during the 2nd quarter. ERn Financial LLC now owns 12,911 shares of the enterprise software provider’s stock valued at $1,823,000 after acquiring an additional 80 shares during the period. Key Financial Inc increased its stake in shares of Oracle by 1.2% during the 2nd quarter. Key Financial Inc now owns 6,600 shares of the enterprise software provider’s stock worth $932,000 after purchasing an additional 80 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of Oracle by 18.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 530 shares of the enterprise software provider’s stock worth $67,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Price Performance

Shares of NYSE:ORCL traded down $0.80 during trading on Friday, reaching $141.81. The company had a trading volume of 11,154,796 shares, compared to its average volume of 8,056,655. The company has a fifty day moving average of $138.72 and a two-hundred day moving average of $128.47. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 8.25. The stock has a market capitalization of $390.81 billion, a P/E ratio of 38.22, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $146.59.

Oracle (NYSE:ORCL) last released its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). Oracle had a net margin of 19.76% and a return on equity of 223.01%. The firm had revenue of $14.29 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the company earned $1.35 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Oracle Co. will post 5.02 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.13%. The ex-dividend date was Thursday, July 11th. Oracle’s dividend payout ratio is currently 43.13%.

Insider Buying and Selling at Oracle

In other news, insider Edward Screven sold 235,918 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the sale, the insider now directly owns 2,626,764 shares in the company, valued at approximately $379,042,045.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Edward Screven sold 235,918 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the sale, the insider now owns 2,626,764 shares of the company’s stock, valued at approximately $379,042,045.20. The disclosure for this sale can be found here. Insiders have sold 1,862,500 shares of company stock worth $266,776,624 over the last ninety days. Insiders own 42.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ORCL. Sanford C. Bernstein raised their target price on Oracle from $159.00 to $171.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. JPMorgan Chase & Co. lifted their price objective on Oracle from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, June 12th. Bank of America upped their price objective on shares of Oracle from $144.00 to $155.00 and gave the company a “neutral” rating in a report on Wednesday, June 12th. JMP Securities reiterated a “market perform” rating on shares of Oracle in a research note on Tuesday, June 11th. Finally, UBS Group upped their price target on shares of Oracle from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.87.

Oracle Company 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.