JPMorgan Chase restated their buy rating on shares of Oracle (NYSE:ORCL) in a research report sent to investors on Tuesday, March 20th. They currently have a $55.00 price objective on the enterprise software provider’s stock.
ORCL has been the subject of a number of other research reports. UBS set a $55.00 price objective on shares of Oracle and gave the company a neutral rating in a report on Friday, December 15th. Oppenheimer reissued a hold rating on shares of Oracle in a report on Friday, December 15th. Royal Bank of Canada boosted their price objective on shares of Oracle to $53.00 and gave the company an outperform rating in a report on Wednesday, December 6th. Morgan Stanley upgraded shares of Oracle from an equal weight rating to an overweight rating and boosted their target price for the company from $46.63 to $47.71 in a research report on Wednesday, January 3rd. Finally, Credit Suisse Group restated a buy rating and issued a $62.00 target price on shares of Oracle in a research report on Sunday, February 18th. Seventeen research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $56.11.
Shares of ORCL stock traded up $0.27 during midday trading on Tuesday, hitting $45.88. 13,947,051 shares of the company were exchanged, compared to its average volume of 17,310,436. The company has a market capitalization of $189,676.56, a price-to-earnings ratio of 18.43, a PEG ratio of 1.69 and a beta of 1.15. The company has a debt-to-equity ratio of 1.16, a quick ratio of 4.30 and a current ratio of 4.33. Oracle has a 52 week low of $43.60 and a 52 week high of $53.48.
Oracle (NYSE:ORCL) last announced its earnings results on Monday, March 19th. The enterprise software provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.72 by $0.11. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.77 billion. Oracle had a net margin of 9.25% and a return on equity of 21.77%. Oracle’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. sell-side analysts forecast that Oracle will post 2.76 EPS for the current year.
Oracle declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 17th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.66%. The ex-dividend date is Monday, April 16th. Oracle’s dividend payout ratio (DPR) is currently 30.52%.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $49.72, for a total value of $186,450.00. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $901,175. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas Kurian sold 1,700,000 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the sale, the insider now directly owns 1,522,983 shares in the company, valued at $76,590,815.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,981,250 shares of company stock valued at $99,315,438. Corporate insiders own 29.00% of the company’s stock.
Several large investors have recently bought and sold shares of ORCL. Beach Investment Management LLC. bought a new position in Oracle during the second quarter worth $336,000. Sequoia Financial Advisors LLC boosted its stake in Oracle by 13.4% during the second quarter. Sequoia Financial Advisors LLC now owns 102,745 shares of the enterprise software provider’s stock worth $5,152,000 after acquiring an additional 12,147 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Oracle by 0.9% during the second quarter. Oppenheimer & Co. Inc. now owns 138,733 shares of the enterprise software provider’s stock worth $6,956,000 after acquiring an additional 1,252 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Oracle by 7.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 170,840 shares of the enterprise software provider’s stock worth $8,566,000 after acquiring an additional 11,244 shares in the last quarter. Finally, Cedar Capital LLC boosted its stake in Oracle by 18.6% during the second quarter. Cedar Capital LLC now owns 10,365 shares of the enterprise software provider’s stock worth $520,000 after acquiring an additional 1,624 shares in the last quarter. 57.94% of the stock is currently owned by institutional investors.
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Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure technologies for information technology (IT) environments worldwide. It provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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