Oracle (NYSE:ORCL) Stock Price Up 1.8% – Here’s Why

Oracle Co. (NYSE:ORCL)’s stock price rose 1.8% during trading on Wednesday . The company traded as high as $153.00 and last traded at $152.11. Approximately 1,324,644 shares traded hands during trading, a decline of 84% from the average daily volume of 8,507,728 shares. The stock had previously closed at $149.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $205.00 price target on shares of Oracle in a report on Wednesday, January 22nd. DA Davidson reiterated a “neutral” rating and set a $150.00 target price on shares of Oracle in a research note on Tuesday, March 11th. Royal Bank of Canada set a $145.00 price target on shares of Oracle and gave the stock a “sector perform” rating in a research report on Tuesday, March 11th. Citigroup lowered their price objective on shares of Oracle from $194.00 to $160.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Finally, Barclays cut 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. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and a consensus price target of $179.20.

Oracle Trading Down 0.7 %

The business’s 50 day moving average price is $164.90 and its two-hundred day moving average price is $169.77. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $423.96 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL) last released its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm had revenue of $14.13 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter last year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 10th will be given a $0.50 dividend. The ex-dividend date is Thursday, April 10th. This is a boost from Oracle’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a yield of 1.32%. Oracle’s payout ratio is 46.95%.

Insider Buying and Selling at Oracle

In other Oracle news, CEO Safra Catz sold 2,101,154 shares of Oracle stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $185.35, for a total value of $389,448,893.90. Following the transaction, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $207,331,027.20. The trade was a 65.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 42.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oracle

A number of hedge funds have recently modified their holdings of ORCL. R Squared Ltd purchased a new position in Oracle in the 4th quarter worth about $25,000. Sunbeam Capital Management LLC acquired a new position in shares of Oracle in the fourth quarter worth about $30,000. Winch Advisory Services LLC increased its position in shares of Oracle by 89.7% in the fourth quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock worth $31,000 after acquiring an additional 87 shares in the last quarter. Hurley Capital LLC acquired a new stake in shares of Oracle during the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Oracle during the fourth quarter valued at approximately $34,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

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.