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

Harvey Capital Management Inc. cut its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,467 shares of the enterprise software provider's stock after selling 2,250 shares during the period. Oracle makes up approximately 2.3% of Harvey Capital Management Inc.'s holdings, making the stock its 9th largest holding. Harvey Capital Management Inc.'s holdings in Oracle were worth $8,734,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Greenwood Gearhart Inc. boosted its position in shares of Oracle by 1.2% in the fourth quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider's stock valued at $955,000 after acquiring an additional 66 shares during the period. WorthPointe LLC boosted its position in shares of Oracle by 4.0% in the fourth quarter. WorthPointe LLC now owns 1,734 shares of the enterprise software provider's stock valued at $289,000 after acquiring an additional 67 shares during the period. Stage Harbor Financial LLC boosted its position in shares of Oracle by 5.0% in the fourth quarter. Stage Harbor Financial LLC now owns 1,433 shares of the enterprise software provider's stock valued at $239,000 after acquiring an additional 68 shares during the period. J. L. Bainbridge & Co. Inc. boosted its position in shares of Oracle by 5.5% in the fourth quarter. J. L. Bainbridge & Co. Inc. now owns 1,354 shares of the enterprise software provider's stock valued at $226,000 after acquiring an additional 70 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its position in shares of Oracle by 0.6% in the fourth quarter. Prestige Wealth Management Group LLC now owns 11,288 shares of the enterprise software provider's stock valued at $1,881,000 after acquiring an additional 70 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Price Performance

Oracle stock traded down $0.73 on Thursday, reaching $235.08. The company's stock had a trading volume of 11,470,190 shares, compared to its average volume of 10,239,208. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $660.30 billion, a price-to-earnings ratio of 54.17, a PEG ratio of 3.53 and a beta of 1.39. The business's fifty day moving average price is $185.56 and its 200 day moving average price is $166.09. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $241.44.

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

Oracle Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Oracle from $135.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. Royal Bank Of Canada lifted their target price on Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 12th. Loop Capital set a $135.00 target price on Oracle in a research report on Tuesday, June 10th. Guggenheim lifted their target price on Oracle from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Finally, Mizuho lowered their price target on shares of Oracle from $210.00 to $180.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $209.33.

Insider Buying and Selling at Oracle

In related news, Director Naomi O. Seligman sold 2,866 shares of Oracle stock in a transaction dated Monday, May 5th. The stock was 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 in the company, valued at $4,749,670.92. This trade represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rona Alison Fairhead acquired 480 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was purchased at an average price of $233.87 per share, with a total value of $112,257.60. Following the completion of the transaction, the director owned 22,110 shares of the company's stock, valued at approximately $5,170,865.70. This trade represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 450,366 shares of company stock valued at $85,433,503 over the last three months. Insiders own 42.20% of the company's stock.

Oracle 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.