5 Best Technology Dividend Stocks To Buy

3. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 84

Oracle Corporation (NYSE:ORCL) is next on our list of the best dividend stocks from the tech sector. The multinational computer technology company has been rewarding shareholders with growing dividends for eight years straight. The company offers a quarterly dividend of $.40 per share and its dividend yield on October 19 came in at 1.47%.

At the end of Q2 2023, 84 hedge funds in Insider Monkey’s database, up from 67 in the previous quarter, reported owning stakes in Oracle Corporation (NYSE:ORCL). The total value of these stakes is over $3.4 billion.

Harris Associates mentioned Oracle Corporation (NYSE:ORCL) in its Q3 2023 investor letter. Here is what the firm has to say:

“Oracle Corporation (NYSE:ORCL) (U.S.), a global software company, was the Fund’s top contributor for the fiscal year, with its share price rising primarily after reporting its fiscal fourth-quarter results. More recently, Oracle announced fiscal first-quarter results, which were in line with consensus expectations. The drivers of the core business are performing well, in our view, and management expressed confidence that annual revenue growth will accelerate as planned based on demand trajectory and its strong bookings trends. For the quarter, total revenue increased 8% in constant currency (9% reported), and operating income grew 12% with margins showing improvement. Cloud and support revenue grew 11% in constant currency, powered by Fusion +20% and Netsuite +21%. The “strategic back office cloud” is now up to $6.9 billion in run-rate revenue. Infrastructure cloud and support revenue grew 14% in constant currency, powered by infrastructure cloud services +72% ex-legacy hosting services to $5.6 billion in run-rate revenue. Momentum is continuing to build as Oracle signed several deals for its cloud business greater than $1 billion in total value during the quarter and booked an additional $1.5 billion in the first week of the second quarter. We continue to believe Oracle is an attractive holding and undervalued due to our perception of its intrinsic value.”