Harvest Fund Management Co. Ltd Sells 8,790 Shares of Oracle Corporation (NYSE:ORCL)

Key Points

• Harvest Fund Management Co. Ltd reduced its holdings in Oracle Corporation by 21.6% during the first quarter, now owning 31,928 shares valued at approximately $4.46 million.
• Several large investors, including FMR LLC and UBS AM, increased their positions in Oracle during the 4th quarter, indicating a robust interest in the company's stock.
• Oracle recently declared a $0.50 quarterly dividend, reflecting an annualized dividend yield of 0.81% and a payout ratio of 46.08%.

Harvest Fund Management Co. Ltd lessened its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 21.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,928 shares of the enterprise software provider's stock after selling 8,790 shares during the period. Harvest Fund Management Co. Ltd's holdings in Oracle were worth $4,464,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new position in shares of Oracle in the 1st quarter valued at $27,000. Inlight Wealth Management LLC purchased a new position in shares of Oracle in the 1st quarter valued at $28,000. Iron Horse Wealth Management LLC grew its holdings in Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. Sunbeam Capital Management LLC acquired a new stake in Oracle during the 4th quarter valued at $30,000. Finally, Hurley Capital LLC acquired a new stake in Oracle during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ORCL shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $240.00 price target (up from $200.00) on shares of Oracle in a report on Thursday, June 12th. BMO Capital Markets raised their price objective on shares of Oracle from $235.00 to $245.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Piper Sandler raised shares of Oracle from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $190.00 to $270.00 in a report on Thursday, July 10th. Loop Capital set a $135.00 price objective on shares of Oracle in a report on Tuesday, June 10th. Finally, JMP Securities raised their price objective on shares of Oracle from $240.00 to $315.00 and gave the stock a "market outperform" rating in a report on Friday, July 18th. Nine investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $218.29.

Oracle Stock Performance

Oracle stock traded down $9.33 during mid-day trading on Friday, reaching $244.44. The company had a trading volume of 12,413,779 shares, compared to its average volume of 12,102,495. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $260.87. The firm has a market cap of $686.59 billion, a price-to-earnings ratio of 56.32, a PEG ratio of 3.74 and a beta of 1.39. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The company has a 50 day moving average of $211.78 and a 200-day moving average of $174.13.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The company had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter in the prior year, the company posted $1.63 EPS. The business's revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts expect that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. Oracle's dividend payout ratio (DPR) is 46.08%.

Insider Buying and Selling at Oracle

In other Oracle news, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the sale, the insider owned 60,722 shares of the company's stock, valued at $13,000,580.20. This represents a 19.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rona Alison Fairhead bought 480 shares of Oracle stock in a transaction dated 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 purchase, the director directly owned 22,110 shares in the company, valued at approximately $5,170,865.70. The trade was a 2.22% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 431,169 shares of company stock worth $82,908,609 over the last ninety days. Company 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.