Harbour Investment Management LLC Makes New Investment in Oracle Co. (NYSE:ORCL)

Harbour Investment Management LLC purchased a new position in Oracle Co. (NYSE:ORCL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,436 shares of the enterprise software provider’s stock, valued at approximately $239,000.

Other large investors have also bought and sold shares of the company. State Street Corp grew its holdings in shares of Oracle by 2.7% during the third quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider’s stock valued at $12,003,241,000 after buying an additional 1,847,561 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Oracle by 2.6% during the third 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. Franklin Resources Inc. boosted its holdings in Oracle by 11.6% during 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 purchasing an additional 1,917,416 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Oracle by 0.5% during the fourth quarter. Fisher Asset Management LLC now owns 17,995,664 shares of the enterprise software provider’s stock worth $2,998,798,000 after purchasing an additional 97,635 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Oracle by 0.4% during the third quarter. Janus Henderson Group PLC now owns 14,608,951 shares of the enterprise software provider’s stock worth $2,489,345,000 after purchasing an additional 54,868 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Oracle news, CEO Safra Catz sold 345,174 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $185.56, for a total value of $64,050,487.44. Following the completion of the transaction, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $207,565,931.52. The trade was a 23.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 42.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ORCL. KeyCorp restated an “overweight” rating and set a $200.00 price target on shares of Oracle in a report on Tuesday. Monness Crespi & Hardt upgraded shares of Oracle from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd. Evercore ISI cut their price target on shares of Oracle from $200.00 to $185.00 and set an “outperform” rating on the stock in a report on Tuesday. Piper Sandler lowered their price objective on shares of Oracle from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Guggenheim reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Oracle in a research report on Wednesday, March 5th. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Oracle has a consensus rating of “Moderate Buy” and a consensus target price of $179.71.

Oracle Stock Performance

Oracle stock opened at $149.36 on Friday. The firm’s 50 day simple moving average is $165.80 and its 200 day simple moving average is $169.41. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. The firm has a market capitalization of $417.76 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07. Oracle Co. has a 1-year low of $112.78 and a 1-year high of $198.31.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). The firm had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $1.41 EPS. As a group, analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Oracle’s previous quarterly dividend of $0.40. Oracle’s payout ratio is currently 39.12%.

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.