Oracle Co. (NYSE:ORCL) Plans $0.24 Quarterly Dividend

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Oracle Co. (NYSE:ORCL) declared a quarterly dividend on Wednesday, September 11th, RTT News reports. Investors of record on Thursday, October 10th will be paid a dividend of 0.24 per share by the enterprise software provider on Thursday, October 24th. This represents a $0.96 annualized dividend and a yield of 1.80%.

Oracle has raised its dividend payment by an average of 10.1% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Oracle has a payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Oracle to earn $3.82 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 25.1%.

NYSE:ORCL traded down $2.81 during midday trading on Thursday, hitting $53.48. The company’s stock had a trading volume of 845,057 shares, compared to its average volume of 13,579,015. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.49 and a quick ratio of 2.49. Oracle has a fifty-two week low of $42.40 and a fifty-two week high of $60.50. The firm’s 50 day moving average is $54.15 and its 200-day moving average is $54.46. The firm has a market cap of $181.94 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.59 and a beta of 1.18.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The firm had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.29 billion. Oracle had a return on equity of 40.95% and a net margin of 28.06%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. As a group, analysts forecast that Oracle will post 3.49 EPS for the current year.

ORCL has been the subject of a number of recent analyst reports. Raymond James raised their price objective on Oracle from $57.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $60.00 target price (up from $59.00) on shares of Oracle in a research report on Thursday. Cowen started coverage on Oracle in a research note on Friday, August 16th. They issued a “buy” rating and a $65.00 price objective for the company. Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Wednesday, May 15th. Finally, William Blair restated a “market perform” rating on shares of Oracle in a research note on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have issued a buy rating to the company’s stock. Oracle presently has an average rating of “Hold” and a consensus price target of $55.88.

In related news, CEO Mark V. Hurd sold 787,500 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $56.29, for a total value of $44,328,375.00. Following the sale, the chief executive officer now owns 874,871 shares of the company’s stock, valued at approximately $49,246,488.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Naomi O. Seligman sold 90,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $59.52, for a total value of $5,356,800.00. Following the completion of the sale, the director now directly owns 82,310 shares in the company, valued at approximately $4,899,091.20. The disclosure for this sale can be found here. Insiders sold 2,140,000 shares of company stock valued at $117,501,425 in the last three months. 32.00% of the stock is currently owned by company insiders.

About Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

Further Reading: How Do Front-End Loads Impact an Investment?

Dividend History for Oracle (NYSE:ORCL)

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