Oracle (NYSE:ORCL) Trading 2.4% Higher – Here’s What Happened

by · The Cerbat Gem

Oracle Co. (NYSE:ORCL – Get Free Report)’s stock price rose 2.4% during trading on Wednesday . The stock traded as high as $145.40 and last traded at $145.42. Approximately 2,581,173 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 8,986,966 shares. The stock had previously closed at $141.94.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ORCL shares. Evercore ISI cut their target price on Oracle from $200.00 to $185.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. Mizuho raised their target price on Oracle from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Monness Crespi & Hardt upgraded shares of Oracle from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Piper Sandler decreased their price objective on shares of Oracle from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Finally, Bank of America dropped their target price on shares of Oracle from $195.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and a consensus price target of $178.65.

View Our Latest Analysis on Oracle

Oracle Stock Down 6.0 %

The stock has a 50-day simple moving average of $161.16 and a two-hundred day simple moving average of $169.62. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The firm has a market cap of $383.30 billion, a PE ratio of 33.51, a P/E/G ratio of 3.46 and a beta of 1.22.

Oracle (NYSE:ORCL – Get Free Report) last released its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). The firm had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. Analysts expect that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Thursday, April 10th. This is a boost from Oracle’s previous quarterly dividend of $0.40. Oracle’s dividend payout ratio (DPR) is presently 46.95%.

Insider Buying and Selling at Oracle

In other news, CEO Safra Catz sold 2,101,154 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total value of $389,448,893.90. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at approximately $207,331,027.20. The trade was a 65.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 42.20% of the company’s stock.

Hedge Funds Weigh In On Oracle

Large investors have recently bought and sold shares of the stock. Central Pacific Bank Trust Division boosted its stake in shares of Oracle by 30.6% during the first quarter. Central Pacific Bank Trust Division now owns 30,025 shares of the enterprise software provider’s stock valued at $4,198,000 after purchasing an additional 7,029 shares during the period. Versant Capital Management Inc boosted its position in Oracle by 14.6% during the 1st quarter. Versant Capital Management Inc now owns 5,159 shares of the enterprise software provider’s stock valued at $721,000 after buying an additional 658 shares during the period. Insight Wealth Strategies LLC grew its holdings in Oracle by 54.5% in the 1st quarter. Insight Wealth Strategies LLC now owns 18,818 shares of the enterprise software provider’s stock worth $2,631,000 after acquiring an additional 6,640 shares during the last quarter. Legacy Wealth Management LLC MS increased its position in shares of Oracle by 29.7% in the first quarter. Legacy Wealth Management LLC MS now owns 3,210 shares of the enterprise software provider’s stock valued at $449,000 after acquiring an additional 736 shares during the period. Finally, Marcum Wealth LLC raised its stake in shares of Oracle by 0.7% during the first quarter. Marcum Wealth LLC now owns 12,762 shares of the enterprise software provider’s stock valued at $1,784,000 after acquiring an additional 88 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

About Oracle

(Get Free Report)

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.

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