Harvey Capital Management Inc. Has $8.73 Million Stock Position in Oracle Corporation (NYSE:ORCL)

Harvey Capital Management Inc. reduced its position in Oracle Corporation (NYSE:ORCL - Free Report) by 3.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 62,467 shares of the enterprise software provider's stock after selling 2,250 shares during the quarter. Oracle comprises about 2.3% of Harvey Capital Management Inc.'s holdings, making the stock its 9th largest position. Harvey Capital Management Inc.'s holdings in Oracle were worth $8,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Greenwood Gearhart Inc. boosted its stake in shares of Oracle by 1.2% during the 4th quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider's stock worth $955,000 after purchasing an additional 66 shares during the last quarter. WorthPointe LLC lifted its holdings in shares of Oracle by 4.0% during the 4th quarter. WorthPointe LLC now owns 1,734 shares of the enterprise software provider's stock worth $289,000 after acquiring an additional 67 shares during the period. Stage Harbor Financial LLC lifted its holdings in shares of Oracle by 5.0% during the 4th quarter. Stage Harbor Financial LLC now owns 1,433 shares of the enterprise software provider's stock worth $239,000 after acquiring an additional 68 shares during the period. J. L. Bainbridge & Co. Inc. lifted its holdings in shares of Oracle by 5.5% during the 4th quarter. J. L. Bainbridge & Co. Inc. now owns 1,354 shares of the enterprise software provider's stock worth $226,000 after acquiring an additional 70 shares during the period. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of Oracle by 0.6% during the 4th quarter. Prestige Wealth Management Group LLC now owns 11,288 shares of the enterprise software provider's stock worth $1,881,000 after acquiring an additional 70 shares during the period. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Oracle news, Director Leon E. Panetta sold 17,500 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the transaction, the director owned 58,090 shares of the company's stock, valued at $8,785,531.60. The trade was a 23.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Naomi O. Seligman sold 2,866 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $149.53, for a total value of $428,552.98. Following the completion of the sale, the director directly owned 31,764 shares of the company's stock, valued at approximately $4,749,670.92. The trade was a 8.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 450,366 shares of company stock valued at $85,433,503. Insiders own 42.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Stephens assumed coverage on shares of Oracle in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $167.00 price target on the stock. Oppenheimer reiterated an "outperform" rating on shares of Oracle in a research note on Wednesday, June 18th. Morgan Stanley reiterated an "overweight" rating on shares of Oracle in a research note on Wednesday, June 18th. DA Davidson lifted 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. Finally, BMO Capital Markets lifted their price objective on shares of Oracle from $235.00 to $245.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $204.15.

Oracle Price Performance

Shares of ORCL stock traded up $1.97 during trading hours on Wednesday, hitting $236.47. 10,824,366 shares of the company's stock were exchanged, compared to its average volume of 10,235,002. The stock's 50-day moving average is $181.86 and its 200-day moving average is $165.14. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $664.20 billion, a price-to-earnings ratio of 54.49, a price-to-earnings-growth ratio of 3.48 and a beta of 1.39. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $241.44.

Oracle (NYSE:ORCL - Get Free Report) last issued its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The firm had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter last year, the business earned $1.63 earnings per share. The company's revenue was up 11.3% compared to the same quarter last year. As a group, research analysts forecast that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle's dividend payout ratio (DPR) is currently 46.08%.

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.