Clear Harbor Asset Management LLC Trims Holdings in Oracle Co. (NYSE:ORCL)

Clear Harbor Asset Management LLC lessened its stake in Oracle Co. (NYSE:ORCL) by 12.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,382 shares of the enterprise software provider’s stock after selling 3,757 shares during the period. Clear Harbor Asset Management LLC’s holdings in Oracle were worth $4,666,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new stake in shares of Oracle in the 2nd quarter valued at about $27,000. POM Investment Strategies LLC bought a new stake in Oracle in the second quarter valued at about $30,000. Bbjs Financial Advisors LLC acquired a new stake in Oracle during the second quarter valued at approximately $35,000. Koesten Hirschmann & Crabtree INC. bought a new position in Oracle during the 1st quarter worth approximately $38,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Oracle in the 1st quarter worth approximately $40,000. 42.44% of the stock is currently owned by institutional investors.

Insider Transactions at Oracle

In related news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the transaction, the executive vice president now owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 42.80% of the stock is owned by insiders.

Oracle Price Performance

Shares of Oracle stock opened at $173.52 on Friday. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $178.61. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The company’s 50-day moving average price is $160.15 and its two-hundred day moving average price is $140.31. The stock has a market cap of $478.20 billion, a PE ratio of 46.77, a price-to-earnings-growth ratio of 3.23 and a beta of 1.01.

Oracle (NYSE:ORCL) last released its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. The business 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 business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, sell-side analysts anticipate that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ORCL shares. StockNews.com cut Oracle from a “buy” rating to a “hold” rating in a research note on Friday. Evercore ISI lifted their price target on shares of Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Piper Sandler increased their price objective on shares of Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. JMP Securities lifted their target price on Oracle from $175.00 to $205.00 and gave the company a “market outperform” rating in a research note on Friday, October 18th. Finally, Sanford C. Bernstein increased their price target on Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Oracle presently has an average rating of “Moderate Buy” and an average price target of $168.52.

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.