Oracle (NYSE:ORCL) Stock Price Up 0.5% After Dividend Announcement

Oracle Co. (NYSE:ORCL)’s share price shot up 0.5% during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $179.60 and last traded at $178.70. 3,626,669 shares were traded during mid-day trading, a decline of 57% from the average session 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. Stockholders 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 dividend yield of 0.89%. Oracle’s dividend payout ratio is presently 41.24%.

Analyst Ratings Changes

A number of equities analysts have commented on ORCL shares. DA Davidson raised their price objective on Oracle from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday. KeyCorp raised their price target on Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays increased their price objective on shares of Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. BMO Capital Markets upped their price target on shares of Oracle from $173.00 to $205.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Melius raised shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.48.

Oracle Stock Up 0.9 %

The stock has a 50-day moving average price of $179.97 and a 200-day moving average price of $155.06. The company has a market capitalization of $496.99 billion, a P/E ratio of 46.06, a P/E/G ratio of 3.49 and a beta of 1.03. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $14.12 billion. During the same quarter in the previous year, the business posted $1.34 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. On average, research analysts predict that Oracle Co. will post 5.06 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 completion of the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This trade represents a 12.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 42.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Activest Wealth Management increased its holdings in Oracle by 21.9% during the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock worth $53,000 after purchasing an additional 56 shares in the last quarter. Second Line Capital LLC grew its holdings in Oracle by 1.5% during the third quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock worth $650,000 after buying an additional 58 shares in the last quarter. Cadence Bank raised its position in Oracle by 0.8% in the 3rd quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock valued at $1,296,000 after buying an additional 59 shares during the last quarter. Eagle Rock Investment Company LLC lifted its stake in Oracle by 0.4% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock valued at $3,003,000 after acquiring an additional 64 shares in the last quarter. Finally, W Advisors LLC boosted its holdings in Oracle by 3.1% during the 3rd quarter. W Advisors LLC now owns 2,158 shares of the enterprise software provider’s stock worth $368,000 after acquiring an additional 64 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Company Profile

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.