Oracle (ORCL) to Repurchase $12.00 billion in Stock

Oracle (NYSE:ORCL) declared that its board has approved a stock buyback plan, which authorizes the company to buyback $12.00 billion in shares on Friday, February 2nd, EventVestor reports. This buyback authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Several equities analysts recently commented on ORCL shares. Zacks Investment Research cut shares of Oracle from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. BidaskClub upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. Stifel Nicolaus reiterated a “buy” rating on shares of Oracle in a research note on Sunday, October 22nd. Vetr cut shares of Oracle from a “buy” rating to a “hold” rating and set a $51.74 target price for the company. in a research note on Tuesday, October 24th. Finally, UBS Group reiterated a “neutral” rating and set a $55.00 target price (down from $57.00) on shares of Oracle in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Oracle presently has an average rating of “Buy” and a consensus target price of $55.39.

Shares of Oracle (NYSE ORCL) traded up $0.38 during trading on Monday, hitting $50.51. 3,332,116 shares of the company were exchanged, compared to its average volume of 15,770,048. The firm has a market cap of $207,518.25, a PE ratio of 21.67, a P/E/G ratio of 1.91 and a beta of 1.08. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. Oracle has a 1-year low of $40.01 and a 1-year high of $53.14.

Oracle (NYSE:ORCL) last announced its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the company posted $0.61 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. equities analysts predict that Oracle will post 2.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is presently 32.62%.

In other news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the transaction, the executive vice president now owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $48.40, for a total transaction of $181,500.00. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $877,250. The disclosure for this sale can be found here. Insiders sold a total of 1,956,250 shares of company stock worth $98,313,363 in the last ninety days. Insiders own 29.00% of the company’s stock.

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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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