Oracle (NYSE:ORCL) Trading 0.5% Higher After Dividend Announcement

Oracle Co. (NYSE:ORCL) shares rose 0.5% during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $179.60 and last traded at $178.70. Approximately 3,626,669 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 8,360,706 shares. The stock had previously closed at $177.74.

The newly announced dividend which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, January 9th. This represents a $1.60 annualized dividend and a yield of 0.89%. Oracle’s dividend payout ratio (DPR) is presently 41.24%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Oracle from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Mizuho lifted their price objective on Oracle from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday. Barclays increased their target price on Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Sanford C. Bernstein raised their target price on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. upped their price target on Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Twelve investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.48.

Oracle Trading Up 0.9 %

The company has a fifty day simple moving average of $179.97 and a two-hundred day simple moving average of $155.06. The stock has a market capitalization of $496.99 billion, a P/E ratio of 46.06, a price-to-earnings-growth ratio of 3.49 and a beta of 1.03. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.01). The business had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $14.12 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.34 EPS. On average, sell-side analysts expect that Oracle Co. will post 5.06 earnings per share for the current year.

Insider Transactions at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 42.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Oracle

A number of institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Oracle by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock valued at $411,748,000 after acquiring an additional 121,874 shares during the period. Itau Unibanco Holding S.A. grew its position in shares of Oracle by 15.3% in the second quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock valued at $3,502,000 after purchasing an additional 3,300 shares during the last quarter. Chase Investment Counsel Corp bought a new position in shares of Oracle during the third quarter worth approximately $4,160,000. Oppenheimer Asset Management Inc. lifted its holdings in Oracle by 79.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock worth $48,813,000 after purchasing an additional 126,985 shares during the last quarter. Finally, Miura Global Management LLC bought a new stake in Oracle in the 3rd quarter valued at $1,704,000. 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.