Harmony Asset Management LLC Grows Stake in Oracle Co. (NYSE:ORCL)

Harmony Asset Management LLC raised its stake in Oracle Co. (NYSE:ORCL) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,583 shares of the enterprise software provider’s stock after acquiring an additional 1,155 shares during the quarter. Oracle makes up 1.4% of Harmony Asset Management LLC’s holdings, making the stock its 16th biggest position. Harmony Asset Management LLC’s holdings in Oracle were worth $3,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Oracle in the fourth quarter valued at about $25,000. Hurley Capital LLC bought a new stake in shares of Oracle in the fourth quarter valued at approximately $33,000. Synergy Investment Management LLC bought a new stake in shares of Oracle in the fourth quarter valued at approximately $34,000. TFC Financial Management Inc. raised its position in shares of Oracle by 129.0% in the fourth quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider’s stock valued at $35,000 after purchasing an additional 120 shares during the period. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Oracle in the fourth quarter valued at approximately $36,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. 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 research report on Tuesday, April 15th. Cantor Fitzgerald lowered their price target on shares of Oracle from $214.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley lowered their price target on shares of Oracle from $170.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Barclays decreased their target price on shares of Oracle from $212.00 to $202.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Finally, Monness Crespi & Hardt raised shares of Oracle from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd. Fourteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and an average target price of $174.42.

Oracle Price Performance

Shares of NYSE:ORCL opened at $157.28 on Thursday. The company’s fifty day moving average price is $143.49 and its 200-day moving average price is $162.32. The firm has a market capitalization of $439.92 billion, a price-to-earnings ratio of 38.46, a PEG ratio of 3.46 and a beta of 1.27. Oracle Co. has a one year low of $114.55 and a one year high of $198.31. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business had revenue of $14.13 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same period last year, the company posted $1.41 EPS. Oracle’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th were paid a $0.50 dividend. This is a boost from Oracle’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. Oracle’s dividend payout ratio is 46.95%.

Insider Activity

In other news, Director Naomi O. Seligman sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $145.81, for a total value of $291,620.00. Following the completion of the sale, the director now owns 34,630 shares of the company’s stock, valued at approximately $5,049,400.30. This represents a 5.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leon E. Panetta sold 17,500 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the sale, the director now directly owns 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 27,366 shares of company stock valued at $4,015,723. Corporate insiders own 42.20% of the company’s stock.

Oracle Company 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.