Harvey Capital Management Inc. Has $10.78 Million Stake in Oracle Co. (NYSE:ORCL)

Harvey Capital Management Inc. trimmed its stake in shares of Oracle Co. (NYSE:ORCL) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 largest position. Harvey Capital Management Inc.’s holdings in Oracle were worth $10,784,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in ORCL. R Squared Ltd bought a new position in shares of Oracle in the fourth quarter worth $25,000. Winch Advisory Services LLC increased its stake in Oracle by 89.7% in the 4th quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock worth $31,000 after acquiring an additional 87 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Oracle in the 3rd quarter valued at about $44,000. Synergy Asset Management LLC bought a new stake in shares of Oracle during the 4th quarter valued at about $47,000. Finally, Friedenthal Financial purchased a new position in shares of Oracle during the third quarter worth about $51,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Price Performance

Shares of NYSE ORCL opened at $177.18 on Wednesday. Oracle Co. has a 1 year low of $106.51 and a 1 year high of $198.31. The stock has a market capitalization of $495.57 billion, a P/E ratio of 43.32, a P/E/G ratio of 3.39 and a beta of 1.05. The company’s 50-day moving average is $170.25 and its 200 day moving average is $165.24. 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 (NYSE:ORCL) last posted 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 firm had revenue of $14.06 billion for 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%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $1.34 EPS. On average, sell-side analysts expect that Oracle Co. will post 5 earnings per share for the current year.

Oracle Dividend Announcement

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

Wall Street Analyst Weigh In

ORCL has been the subject of several research analyst reports. BNP Paribas upgraded shares of Oracle to a “strong-buy” rating in a research report on Tuesday, December 10th. Cantor Fitzgerald began coverage on shares of Oracle in a report on Friday, January 17th. They set an “overweight” rating and a $214.00 price objective for the company. Citigroup increased their target price on Oracle from $157.00 to $194.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Monness Crespi & Hardt lowered 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. Finally, DA Davidson increased their price objective on Oracle from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.73.

Insider Activity

In other Oracle news, CEO Safra Catz sold 345,174 shares of the firm’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 transaction 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 approximately $207,565,931.52. This trade represents a 23.58 % 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.