Oracle (NYSE:ORCL) Trading 3.1% Higher – Here’s Why

Oracle Co. (NYSE:ORCL) shares rose 3.1% during mid-day trading on Wednesday . The stock traded as high as $189.41 and last traded at $188.51. Approximately 2,506,334 shares changed hands during trading, a decline of 70% from the average daily volume of 8,226,316 shares. The stock had previously closed at $182.89.

Analyst Upgrades and Downgrades

ORCL has been the subject of several research reports. Bank of America lifted their price objective on shares of Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. BMO Capital Markets increased their price objective on Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Piper Sandler raised their price target on shares of Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Stifel Nicolaus boosted their target price on shares of Oracle from $135.00 to $155.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, KeyCorp lifted their price objective on Oracle from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.52.

Oracle Stock Performance

The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $520.32 billion, a PE ratio of 48.00, a P/E/G ratio of 3.37 and a beta of 1.03. The firm’s 50 day moving average is $178.90 and its two-hundred day moving average is $153.32.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business had revenue of $13.31 billion for the quarter, compared to analysts’ expectations of $13.23 billion. During the same period last year, the firm earned $0.95 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Oracle Co. will post 5 earnings per share for the current year.

Oracle Announces Dividend

The company also recently announced 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 of this dividend was Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.85%. Oracle’s dividend payout ratio (DPR) is 41.24%.

Insider Buying and Selling

In related news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 directly owns 42,889 shares of the company’s stock, valued at $7,076,685. This represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 42.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Oracle

Hedge funds have recently modified their holdings of the business. PineStone Asset Management Inc. raised its stake in shares of Oracle by 131.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock worth $552,262,000 after buying an additional 2,219,450 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Oracle by 16,023.4% in the third quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider’s stock valued at $351,890,000 after acquiring an additional 2,052,275 shares during the period. Franklin Resources Inc. boosted its position in shares of Oracle by 11.6% during the 3rd quarter. Franklin Resources Inc. now owns 18,480,384 shares of the enterprise software provider’s stock worth $3,370,640,000 after purchasing an additional 1,917,416 shares in the last quarter. State Street Corp grew its stake in shares of Oracle by 2.7% during the 3rd quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider’s stock worth $12,003,241,000 after purchasing an additional 1,847,561 shares during the period. Finally, Altshuler Shaham Ltd increased its holdings in shares of Oracle by 5,853.1% in the 2nd quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider’s stock valued at $219,224,000 after purchasing an additional 1,526,500 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

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.