Oracle Corporation (ORCL) Declares Quarterly Dividend of $0.19
Oracle Corporation (NYSE:ORCL) announced a quarterly dividend on Thursday, September 14th, RTT News reports. Investors of record on Wednesday, October 11th will be given a dividend of 0.19 per share by the enterprise software provider on Wednesday, October 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.44%.
Oracle Corporation has increased its dividend payment by an average of 35.7% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Oracle Corporation has a payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Oracle Corporation to earn $3.19 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 23.8%.
Oracle Corporation (NYSE:ORCL) traded up 0.11% during midday trading on Thursday, hitting $52.86. The company had a trading volume of 16,901,064 shares. The company has a market cap of $218.67 billion, a P/E ratio of 23.92 and a beta of 1.05. Oracle Corporation has a one year low of $37.62 and a one year high of $53.14. The company’s 50 day moving average is $49.91 and its 200-day moving average is $46.85.
Oracle Corporation (NYSE:ORCL) last released its earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.11. The firm had revenue of $10.94 billion for the quarter, compared to analyst estimates of $10.45 billion. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. On average, equities analysts predict that Oracle Corporation will post $2.94 EPS for the current year.
Several analysts have recently weighed in on the company. Zacks Investment Research raised Oracle Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Thursday. Drexel Hamilton reissued a “buy” rating and set a $62.00 price objective on shares of Oracle Corporation in a report on Thursday. Royal Bank Of Canada lifted their price objective on Oracle Corporation from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday. BidaskClub raised Oracle Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Vetr lowered Oracle Corporation from a “sell” rating to a “strong sell” rating and set a $46.58 price objective on the stock. in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-three have issued a buy rating to the company. Oracle Corporation currently has a consensus rating of “Buy” and a consensus price target of $51.76.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $48.86, for a total value of $183,225.00. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $885,587.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark V. Hurd sold 350,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $49.76, for a total value of $17,416,000.00. Following the completion of the transaction, the chief executive officer now owns 553,891 shares of the company’s stock, valued at $27,561,616.16. The disclosure for this sale can be found here. Insiders have sold 1,813,750 shares of company stock valued at $91,393,788 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC grew its holdings in Oracle Corporation by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares during the period. ETF Managers Group LLC acquired a new stake in Oracle Corporation during the 2nd quarter worth about $133,000. IHT Wealth Management LLC grew its holdings in Oracle Corporation by 65.9% during the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after acquiring an additional 947 shares during the period. Stonebridge Capital Advisors LLC acquired a new stake in Oracle Corporation during the 2nd quarter worth about $200,000. Finally, Hancock Holding Co. acquired a new stake in Oracle Corporation during the 2nd quarter worth about $201,000. 58.67% of the stock is owned by institutional investors and hedge funds.
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About Oracle Corporation
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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