Harmony Asset Management LLC Has $2.84 Million Stake in Oracle Co. (NYSE:ORCL)

Harmony Asset Management LLC reduced its stake in shares of Oracle Co. (NYSE:ORCL) by 23.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,122 shares of the enterprise software provider’s stock after selling 6,060 shares during the quarter. Oracle comprises 1.2% of Harmony Asset Management LLC’s portfolio, making the stock its 24th biggest position. Harmony Asset Management LLC’s holdings in Oracle were worth $2,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ORCL. Altshuler Shaham Ltd increased its position in shares of Oracle by 5,853.1% in the 2nd quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider’s stock valued at $219,224,000 after buying an additional 1,526,500 shares in the last quarter. Cyrus J. Lawrence LLC increased its holdings in shares of Oracle by 1.3% in the second quarter. Cyrus J. Lawrence LLC now owns 61,146 shares of the enterprise software provider’s stock worth $8,633,000 after acquiring an additional 758 shares in the last quarter. Delos Wealth Advisors LLC raised its position in shares of Oracle by 2,551.0% during the second quarter. Delos Wealth Advisors LLC now owns 2,598 shares of the enterprise software provider’s stock worth $367,000 after purchasing an additional 2,500 shares during the period. Edge Capital Group LLC lifted its holdings in shares of Oracle by 8.3% during the 2nd quarter. Edge Capital Group LLC now owns 34,081 shares of the enterprise software provider’s stock valued at $4,812,000 after purchasing an additional 2,609 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Oracle by 20.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 14,970 shares of the enterprise software provider’s stock valued at $2,088,000 after purchasing an additional 2,540 shares during the period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Oracle

In other news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the completion of the transaction, the chairman now directly owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Leon E. Panetta sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the transaction, the director now directly owns 58,090 shares of the company’s stock, valued at approximately $8,010,030.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $143.69, for a total value of $161,651,250.00. Following the completion of the sale, the chairman now owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. The disclosure for this sale can be found here. Insiders have sold 1,610,402 shares of company stock valued at $230,556,257 over the last ninety days. 42.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on ORCL. Barclays upped their price target on shares of Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Oppenheimer reissued a “market perform” rating on shares of Oracle in a research note on Tuesday, September 10th. StockNews.com raised Oracle from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. UBS Group lifted their target price on Oracle from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Morgan Stanley boosted their target price on Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Oracle presently has an average rating of “Moderate Buy” and a consensus price target of $166.13.

Oracle Stock Performance

NYSE ORCL opened at $168.00 on Monday. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $173.99. The stock has a market cap of $465.52 billion, a PE ratio of 45.28, a P/E/G ratio of 3.21 and a beta of 1.01. The firm has a 50-day moving average of $142.30 and a 200-day moving average of $132.10. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, sell-side analysts anticipate that Oracle Co. will post 5.01 EPS for the current year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

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.