Oracle Co. (NYSE:ORCL) had its price target upped by investment analysts at Goldman Sachs Group Inc from $47.00 to $49.00 in a note issued to investors on Thursday. The brokerage presently has a “conviction-buy” rating on the enterprise software provider’s stock. Goldman Sachs Group Inc’s price target would indicate a potential upside of 7.31% from the stock’s current price.
Several other research firms have also commented on ORCL. Barclays PLC boosted their price objective on Oracle from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. upgraded Oracle from a “neutral” rating to an “overweight” rating and set a $51.00 price objective for the company in a research note on Thursday. Jefferies Group LLC boosted their price objective on Oracle to $52.00 in a research note on Thursday. Wedbush boosted their price objective on Oracle to $43.00 in a research note on Thursday. Finally, JMP Securities upgraded Oracle from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $42.00 to $43.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $45.73.
Shares of Oracle (NYSE:ORCL) opened at 45.66 on Thursday. The company’s 50 day moving average price is $41.91 and its 200 day moving average price is $40.00. The stock has a market cap of $187.31 billion, a PE ratio of 21.79 and a beta of 1.14. Oracle has a 52-week low of $37.62 and a 52-week high of $46.99.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Wednesday, March 15th. The enterprise software provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.07. Oracle had a return on equity of 21.33% and a net margin of 23.69%. The company earned $9.27 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the business earned $0.64 EPS. Oracle’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts anticipate that Oracle will post $2.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 12th will be issued a dividend of $0.19 per share. This is a positive change from Oracle’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, April 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.66%. Oracle’s dividend payout ratio (DPR) is presently 28.99%.
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In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $39.09, for a total transaction of $146,587.50. Following the transaction, the director now owns 8,281 shares of the company’s stock, valued at $323,704.29. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark V. Hurd sold 700,000 shares of the firm’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $46.44, for a total value of $32,508,000.00. Following the transaction, the chief executive officer now directly owns 903,891 shares in the company, valued at approximately $41,976,698.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,188,000 shares of company stock worth $54,809,425. Corporate insiders own 29.00% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Israel Discount Bank of New York GFN purchased a new position in shares of Oracle during the fourth quarter valued at about $541,000. Norges Bank purchased a new position in shares of Oracle during the fourth quarter valued at about $1,090,559,000. WFG Advisors LP raised its position in shares of Oracle by 44.5% in the fourth quarter. WFG Advisors LP now owns 4,665 shares of the enterprise software provider’s stock valued at $162,000 after buying an additional 1,437 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Oracle during the fourth quarter valued at about $273,000. Finally, SNS Financial Group LLC raised its position in shares of Oracle by 4.0% in the fourth quarter. SNS Financial Group LLC now owns 38,666 shares of the enterprise software provider’s stock valued at $1,487,000 after buying an additional 1,502 shares during the last quarter. 57.95% of the stock is currently owned by institutional investors.
Oracle Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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