Oracle Corporation $ORCL Position Lowered by Harris Associates L P

Key Points

• Harris Associates L P has reduced its position in Oracle Corporation by 25.6%, selling over 380,000 shares, while still holding approximately 1.1 million shares valued at $154 million.
• Oracle recently reported earnings per share of $1.70, surpassing analysts' expectations, alongside a net revenue of $15.9 billion for the quarter.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized payout of $2.00, reflecting a dividend yield of 0.9%.

Harris Associates L P lowered its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 25.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,103,635 shares of the enterprise software provider's stock after selling 380,704 shares during the quarter. Harris Associates L P's holdings in Oracle were worth $154,299,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new position in Oracle in the fourth quarter worth $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Oracle in the 1st quarter worth about $27,000. Inlight Wealth Management LLC acquired a new position in shares of Oracle in the 1st quarter valued at about $28,000. Iron Horse Wealth Management LLC raised its stake in 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 period. Finally, Mpwm Advisory Solutions LLC bought a new position in Oracle in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 42.44% of the company's stock.

Oracle Trading Down 6.0%

Shares of NYSE ORCL opened at $225.97 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $260.87. The company has a market cap of $634.72 billion, a price-to-earnings ratio of 52.07, a P/E/G ratio of 3.38 and a beta of 1.46. The business has a fifty day simple moving average of $237.90 and a 200-day simple moving average of $185.01.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings results 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 business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The firm's revenue was up 11.3% compared to the same quarter last year. Sell-side analysts predict that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.9%. Oracle's dividend payout ratio (DPR) is 46.08%.

Insider Transactions at Oracle

In related news, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the sale, the executive vice president owned 40,807 shares of the company's stock, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the sale, the insider directly owned 60,722 shares of the company's stock, valued at $13,000,580.20. The trade was a 19.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 444,183 shares of company stock valued at $86,521,198. Corporate insiders own 42.20% of the company's stock.

Analyst Upgrades and Downgrades

ORCL has been the topic of a number of research reports. Roth Capital reiterated a "hold" rating on shares of Oracle in a research report on Wednesday, June 18th. TD Cowen boosted their price target on shares of Oracle from $275.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $240.00 target price (up from $200.00) on shares of Oracle in a research note on Thursday, June 12th. Morgan Stanley restated an "overweight" rating on shares of Oracle in a research report on Wednesday, June 18th. 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. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Oracle currently has an average rating of "Moderate Buy" and an average target price of $227.04.

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.

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