Zweig DiMenna Associates LLC Invests $17.91 Million in Oracle Co. (NYSE:ORCL)

Zweig DiMenna Associates LLC purchased a new position in shares of Oracle Co. (NYSE:ORCL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 107,500 shares of the enterprise software provider’s stock, valued at approximately $17,914,000. Oracle accounts for about 1.3% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 21st biggest holding.

A number of other hedge funds also recently modified their holdings of ORCL. Winch Advisory Services LLC grew its stake in Oracle by 89.7% in the fourth quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock valued at $31,000 after purchasing an additional 87 shares in the last quarter. Reston Wealth Management LLC bought a new position in Oracle in the third quarter valued at approximately $44,000. Avondale Wealth Management bought a new position in Oracle in the third quarter valued at approximately $51,000. Friedenthal Financial bought a new position in Oracle in the third quarter valued at approximately $51,000. Finally, Activest Wealth Management grew its stake in Oracle by 21.9% in the third quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Price Performance

Shares of ORCL opened at $184.99 on Friday. Oracle Co. has a 12-month low of $106.51 and a 12-month high of $198.31. The business has a 50-day simple moving average of $174.43 and a two-hundred day simple moving average of $162.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The stock has a market cap of $517.42 billion, a PE ratio of 45.33, a PEG ratio of 3.62 and a beta of 1.06.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.01). The company had revenue of $14.06 billion during the quarter, compared to analyst estimates of $14.12 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 EPS. Analysts anticipate that Oracle Co. will post 5.01 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, January 23rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. Oracle’s payout ratio is 39.12%.

Analysts Set New Price Targets

ORCL has been the subject of a number of analyst reports. Monness Crespi & Hardt downgraded Oracle from a “neutral” rating to a “sell” rating and set a $130.00 price target for the company. in a research note on Friday, December 20th. Jefferies Financial Group raised their price objective on Oracle from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Sanford C. Bernstein raised their price objective on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Citigroup raised their price objective on Oracle from $157.00 to $194.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald assumed coverage on Oracle in a research report on Friday, January 17th. They issued an “overweight” rating and a $214.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Oracle has a consensus rating of “Moderate Buy” and a consensus target price of $182.73.

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.