ORCL has been the subject of a number of other research reports. Morgan Stanley reaffirmed a buy rating on shares of Oracle in a research note on Sunday, March 18th. Oppenheimer reaffirmed a hold rating on shares of Oracle in a research note on Friday, December 15th. Zacks Investment Research lowered Oracle from a hold rating to a sell rating in a research note on Tuesday, December 19th. Instinet assumed coverage on Oracle in a research note on Wednesday, January 24th. They issued a buy rating and a $51.12 price target for the company. Finally, Bank of America lowered Oracle from a buy rating to a neutral rating in a research note on Tuesday. Fifteen research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Oracle has an average rating of Buy and an average price target of $56.11.
Oracle (NYSE:ORCL) opened at $44.79 on Tuesday. The company has a quick ratio of 5.04, a current ratio of 4.33 and a debt-to-equity ratio of 1.16. Oracle has a fifty-two week low of $43.60 and a fifty-two week high of $53.48. The stock has a market cap of $194,644.09, a P/E ratio of 54.62, a PEG ratio of 1.78 and a beta of 1.05.
Oracle declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 14th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.70%. Oracle’s payout ratio is presently 92.68%.
In related news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $49.72, for a total value of $186,450.00. Following the completion of the sale, the director now directly owns 18,125 shares in the company, valued at approximately $901,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Naomi O. Seligman sold 45,000 shares of Oracle stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $51.34, for a total value of $2,310,300.00. Following the completion of the sale, the director now owns 62,498 shares of the company’s stock, valued at $3,208,647.32. The disclosure for this sale can be found here. Insiders have sold 1,856,250 shares of company stock valued at $93,571,688 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beach Investment Management LLC. bought a new stake in shares of Oracle during the 2nd quarter valued at about $336,000. Sequoia Financial Advisors LLC grew its stake in shares of Oracle by 13.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 102,745 shares of the enterprise software provider’s stock valued at $5,152,000 after purchasing an additional 12,147 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Oracle by 0.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 138,733 shares of the enterprise software provider’s stock valued at $6,956,000 after purchasing an additional 1,252 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Oracle by 7.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 170,840 shares of the enterprise software provider’s stock valued at $8,566,000 after purchasing an additional 11,244 shares during the period. Finally, Cedar Capital LLC grew its stake in shares of Oracle by 18.6% during the 2nd quarter. Cedar Capital LLC now owns 10,365 shares of the enterprise software provider’s stock valued at $520,000 after purchasing an additional 1,624 shares during the period. Institutional investors own 57.93% of the company’s stock.
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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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