Oracle Corporation (ORCL) Receives Average Rating of “Buy” from Brokerages
Shares of Oracle Corporation (NYSE:ORCL) have earned an average recommendation of “Buy” from the forty-one research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and twenty-eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $55.58.
ORCL has been the subject of a number of recent research reports. BidaskClub raised shares of Oracle from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Zacks Investment Research raised shares of Oracle from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Thursday, September 14th. Drexel Hamilton reissued a “buy” rating and issued a $62.00 target price on shares of Oracle in a research report on Thursday, September 14th. JPMorgan Chase & Co. set a $55.00 target price on shares of Oracle and gave the company a “buy” rating in a research report on Friday, September 15th. Finally, UBS Group reissued a “buy” rating and issued a $57.00 target price (up previously from $52.00) on shares of Oracle in a research report on Friday, September 15th.
Shares of Oracle (ORCL) traded up $0.47 during trading on Friday, hitting $48.18. 19,814,699 shares of the stock were exchanged, compared to its average volume of 23,119,898. The company has a market capitalization of $202,000.00, a PE ratio of 20.68, a PEG ratio of 1.82 and a beta of 1.05. Oracle has a 52 week low of $38.38 and a 52 week high of $53.14. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.58%. Oracle’s dividend payout ratio (DPR) is currently 32.62%.
Oracle declared that its board has approved a share repurchase program on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the transaction, the executive vice president now owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total value of $183,112.50. Following the completion of the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $885,043.75. The disclosure for this sale can be found here. Insiders sold 111,250 shares of company stock valued at $5,306,238 in the last three months. Company insiders own 29.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its position in Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after purchasing an additional 1,800 shares during the period. Burt Wealth Advisors increased its position in Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares during the period. IHT Wealth Management LLC increased its position in Oracle by 65.9% during the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock valued at $154,000 after purchasing an additional 947 shares during the period. Wealthcare Advisory Partners LLC increased its position in Oracle by 81,200.0% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $118,000 after purchasing an additional 2,436 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in Oracle during the 2nd quarter valued at approximately $129,000. 57.89% of the stock is owned by institutional investors.
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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