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

Clear Harbor Asset Management LLC boosted its holdings in Oracle Co. (NYSE:ORCL) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,264 shares of the enterprise software provider’s stock after acquiring an additional 2,882 shares during the period. Clear Harbor Asset Management LLC’s holdings in Oracle were worth $5,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of Oracle by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after purchasing an additional 121,874 shares during the last quarter. RMR Wealth Builders lifted its position in Oracle by 383.4% during the fourth quarter. RMR Wealth Builders now owns 7,155 shares of the enterprise software provider’s stock worth $1,192,000 after buying an additional 5,675 shares during the period. Chase Investment Counsel Corp acquired a new stake in Oracle in the 3rd quarter worth about $4,160,000. Oppenheimer Asset Management Inc. grew its holdings in Oracle by 79.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock valued at $48,813,000 after buying an additional 126,985 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in shares of Oracle by 84.5% in the third quarter. Lord Abbett & CO. LLC now owns 863,883 shares of the enterprise software provider’s stock worth $147,206,000 after acquiring an additional 395,613 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Stock Performance

ORCL opened at $161.05 on Tuesday. The business has a 50 day moving average price of $175.44 and a two-hundred day moving average price of $161.58. Oracle Co. has a 1-year low of $106.51 and a 1-year high of $198.31. The company has a market capitalization of $450.44 billion, a price-to-earnings ratio of 39.38, a price-to-earnings-growth ratio of 3.16 and a beta of 1.06. 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 issued its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). The company had revenue of $14.06 billion during the quarter, compared to analyst estimates of $14.12 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Research analysts predict that Oracle Co. will post 5.01 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, January 23rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, January 10th. Oracle’s dividend payout ratio is currently 39.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of Oracle in a report on Friday. They issued an “overweight” rating and a $214.00 price target on the stock. Citigroup boosted their target price on Oracle from $157.00 to $194.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Guggenheim lifted their price target on shares of Oracle from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. DA Davidson upped their price target on shares of Oracle from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, KeyCorp raised their price objective on Oracle from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.73.

About Oracle

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.