Harbour Investments Inc. Buys 3,639 Shares of Oracle Corporation (NYSE:ORCL)

Key Points

• Harbour Investments Inc. increased its stake in Oracle Corporation by 18.6%, acquiring an additional 3,639 shares, bringing its total holdings to 23,200 shares valued at approximately $3,244,000.
• Oracle reported a quarterly earnings per share (EPS) of $1.70, beating expectations of $1.64, and revenue of $15.90 billion for the quarter, surpassing the forecast of $15.58 billion.
• Oracle’s recent dividend payment of $0.50 per share gives it an annualized dividend yield of 0.8%, with a payout ratio of 46.08%.

Harbour Investments Inc. increased its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 18.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,200 shares of the enterprise software provider's stock after acquiring an additional 3,639 shares during the period. Harbour Investments Inc.'s holdings in Oracle were worth $3,244,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Redmont Wealth Advisors LLC bought a new stake in Oracle during the first quarter valued at $27,000. Inlight Wealth Management LLC bought a new stake in Oracle during the first quarter valued at $28,000. Iron Horse Wealth Management LLC grew its position in shares of Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after acquiring an additional 151 shares during the last quarter. Sunbeam Capital Management LLC bought a new position in shares of Oracle during the fourth quarter worth about $30,000. Finally, Hurley Capital LLC bought a new position in shares of Oracle during the fourth quarter worth about $33,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Oracle

In other Oracle news, Director Rona Alison Fairhead acquired 480 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was acquired at an average cost of $233.87 per share, for a total transaction of $112,257.60. Following the transaction, the director owned 22,110 shares of the company's stock, valued at $5,170,865.70. This trade represents a 2.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Naomi O. Seligman sold 3,303 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the transaction, the director owned 31,447 shares of the company's stock, valued at $7,337,214.04. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 431,169 shares of company stock worth $82,908,609. 42.20% of the stock is owned by company insiders.

Oracle Price Performance

Shares of Oracle stock traded down $9.33 during trading on Friday, reaching $244.44. The company's stock had a trading volume of 12,500,927 shares, compared to its average volume of 10,602,974. The stock has a 50-day moving average price of $213.55 and a two-hundred day moving average price of $174.74. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a one year low of $118.86 and a one year high of $260.87. The stock has a market capitalization of $686.59 billion, a P/E ratio of 56.32, a price-to-earnings-growth ratio of 3.79 and a beta of 1.43.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The firm had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.63 EPS. As a group, sell-side analysts anticipate that Oracle Corporation 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, July 24th. Stockholders of record on Thursday, July 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, July 10th. Oracle's payout ratio is presently 46.08%.

Wall Street Analyst Weigh In

ORCL has been the subject of several research reports. Piper Sandler upgraded shares of Oracle from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $190.00 to $270.00 in a research report on Thursday, July 10th. CIBC reaffirmed a "buy" rating on shares of Oracle in a research note on Monday, June 9th. DA Davidson upped their price objective on shares of Oracle from $140.00 to $170.00 and gave the company a "neutral" rating in a research note on Thursday, June 12th. Oppenheimer reaffirmed an "outperform" rating on shares of Oracle in a research note on Wednesday, June 18th. Finally, Guggenheim upped their price objective on shares of Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Oracle presently has an average rating of "Moderate Buy" and an average target price of $218.29.

About Oracle

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.