Oracle (NYSE:ORCL) Trading 1.4% Higher – Here’s What Happened

Oracle Co. (NYSE:ORCL)’s share price rose 1.4% during trading on Friday . The company traded as high as $189.09 and last traded at $189.04. Approximately 1,610,435 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 8,252,806 shares. The stock had previously closed at $186.37.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a research note on Monday. Morgan Stanley lifted their price objective on shares of Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Citigroup increased their target price on Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Jefferies Financial Group boosted their price target on Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Evercore ISI raised their price objective on Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Oracle presently has an average rating of “Moderate Buy” and a consensus price target of $168.52.

Oracle Stock Performance

The firm has a fifty day moving average of $165.58 and a 200 day moving average of $143.29. The stock has a market cap of $524.42 billion, a price-to-earnings ratio of 48.72, a PEG ratio of 3.12 and a beta of 1.02. 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 released its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. As a group, sell-side analysts forecast that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were issued a $0.40 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.85%. Oracle’s dividend payout ratio is presently 41.24%.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business’s 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 transaction, the executive vice president now owns 42,889 shares in the company, valued at $7,076,685. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 42.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oracle

A number of institutional investors and hedge funds have recently made changes to their positions in ORCL. Sachetta LLC lifted its holdings in shares of Oracle by 94.2% in the 3rd quarter. Sachetta LLC now owns 6,919 shares of the enterprise software provider’s stock valued at $1,179,000 after buying an additional 3,357 shares during the period. Prospera Private Wealth LLC acquired a new stake in Oracle in the third quarter valued at $70,000. Thompson Davis & CO. Inc. grew its stake in shares of Oracle by 62.5% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 3,494 shares of the enterprise software provider’s stock worth $595,000 after purchasing an additional 1,344 shares during the period. West Family Investments Inc. boosted its holdings in Oracle by 27.5% during the third quarter. West Family Investments Inc. now owns 5,678 shares of the enterprise software provider’s stock worth $968,000 after buying an additional 1,224 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Oracle during the 3rd quarter valued at approximately $26,188,000. 42.44% of the stock is 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.