Oracle (NYSE:ORCL) Stock Price Up 3.6% – Here’s Why

Shares of Oracle Corporation (NYSE:ORCL) rose 3.6% during mid-day trading on Tuesday . The stock traded as high as $213.60 and last traded at $214.42. Approximately 4,438,329 shares changed hands during trading, a decline of 55% from the average daily volume of 9,835,579 shares. The stock had previously closed at $207.04.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JMP Securities set a $240.00 price objective on Oracle and gave the stock a “market outperform” rating in a research report on Thursday, June 12th. Stephens assumed coverage on shares of Oracle in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $167.00 price objective for the company. DA Davidson lifted their price target on shares of Oracle from $140.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, June 12th. Barclays reaffirmed an “overweight” rating and issued a $221.00 price objective (up from $202.00) on shares of Oracle in a report on Friday, June 13th. Finally, KeyCorp increased their target price on Oracle from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, June 12th. Eleven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.74.

Oracle Stock Performance

The firm has a market capitalization of $605.96 billion, a P/E ratio of 49.71, a P/E/G ratio of 3.08 and a beta of 1.32. The stock has a fifty day simple moving average of $161.85 and a two-hundred day simple moving average of $161.26. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75.

Oracle (NYSE:ORCL) last issued its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. Oracle’s revenue was up 11.3% on a year-over-year basis. On average, research analysts predict that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.93%. Oracle’s payout ratio is 46.08%.

Insider Buying and Selling at Oracle

In other Oracle news, Vice Chairman Jeffrey Henley sold 400,000 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider now owns 1,097,576 shares of the company’s stock, valued at approximately $209,000,421.92. The trade was a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the sale, the insider now owns 60,722 shares in the company, valued at $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 442,366 shares of company stock worth $83,395,223. Insiders own 42.20% of the company’s stock.

Institutional Trading of Oracle

Hedge funds have recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC bought a new stake in shares of Oracle in the first quarter valued at $27,000. Inlight Wealth Management LLC bought a new stake in Oracle in the 1st quarter valued at about $28,000. Iron Horse Wealth Management LLC lifted its holdings in Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock valued at $29,000 after purchasing an additional 151 shares during the last quarter. Sunbeam Capital Management LLC bought a new position in Oracle during the fourth quarter worth about $30,000. Finally, Hurley Capital LLC bought a new stake in shares of Oracle in the fourth quarter valued at approximately $33,000. Institutional investors own 42.44% of the company’s stock.

About Oracle

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.