Oracle Co. (NYSE:ORCL) Shares Sold by Harvey Capital Management Inc.

Harvey Capital Management Inc. cut its position in Oracle Co. (NYSE:ORCL) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,717 shares of the enterprise software provider’s stock after selling 1,211 shares during the quarter. Oracle accounts for about 2.5% of Harvey Capital Management Inc.’s holdings, making the stock its 7th biggest holding. Harvey Capital Management Inc.’s holdings in Oracle were worth $10,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ORCL. International Assets Investment Management LLC increased its stake in shares of Oracle by 16,023.4% in the third quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider’s stock valued at $351,890,000 after buying an additional 2,052,275 shares during the period. Franklin Resources Inc. lifted its stake in shares of Oracle by 11.6% in the third quarter. Franklin Resources Inc. now owns 18,480,384 shares of the enterprise software provider’s stock worth $3,370,640,000 after acquiring an additional 1,917,416 shares during the period. State Street Corp increased its position in Oracle by 2.7% during the 3rd quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider’s stock valued at $12,003,241,000 after purchasing an additional 1,847,561 shares during the period. Jennison Associates LLC raised its holdings in Oracle by 279.7% during the 4th quarter. Jennison Associates LLC now owns 1,210,745 shares of the enterprise software provider’s stock worth $201,759,000 after purchasing an additional 891,842 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Oracle by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 35,194,683 shares of the enterprise software provider’s stock worth $5,977,015,000 after purchasing an additional 885,041 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

Oracle Stock Performance

NYSE ORCL opened at $177.18 on Wednesday. The company has a fifty day moving average price of $170.25 and a 200-day moving average price of $165.24. The firm has a market cap of $495.57 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 3.39 and a beta of 1.05. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. Oracle Co. has a 1 year low of $106.51 and a 1 year high of $198.31.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). The business had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $14.12 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. Oracle’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.34 EPS. As a group, equities research analysts predict that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Friday, January 10th. Oracle’s dividend payout ratio is presently 39.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ORCL shares. Citigroup increased their price objective on shares of Oracle from $157.00 to $194.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI increased their price target on Oracle from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. KeyCorp boosted their price objective on Oracle from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Monness Crespi & Hardt lowered Oracle from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Friday, December 20th. Finally, Piper Sandler boosted their price target on Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $182.73.

Insider Transactions at Oracle

In other Oracle news, CEO Safra Catz sold 2,101,154 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total transaction of $389,448,893.90. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at approximately $207,331,027.20. This represents a 65.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 42.20% of the company’s stock.

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.