JPMorgan Chase & Co. Issues Positive Forecast for Oracle (NYSE:ORCL) Stock Price

Oracle (NYSE:ORCL) had its price objective increased by JPMorgan Chase & Co. from $185.00 to $210.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the enterprise software provider’s stock.

ORCL has been the subject of several other reports. Oppenheimer reiterated an “outperform” rating on shares of Oracle in a research note on Wednesday, June 18th. Stifel Nicolaus raised shares of Oracle from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $250.00 in a research report on Monday, June 30th. Mizuho lifted their target price on Oracle from $245.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Loop Capital set a $135.00 price target on Oracle in a report on Tuesday, June 10th. Finally, Guggenheim raised their price objective on Oracle from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Oracle presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.61.

Oracle Trading Up 2.6%

Oracle stock opened at $238.78 on Monday. Oracle has a 52 week low of $118.86 and a 52 week high of $260.87. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $670.70 billion, a PE ratio of 55.02, a PEG ratio of 3.47 and a beta of 1.46. The business’s 50-day simple moving average is $239.78 and its 200-day simple moving average is $187.22.

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

Oracle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. Oracle’s dividend payout ratio is presently 46.08%.

Insider Activity

In other Oracle news, Vice Chairman Jeffrey Henley sold 400,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider directly owned 1,097,576 shares in the company, valued at $209,000,421.92. The trade was a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clayton M. Magouyrk sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the sale, the insider directly owned 60,722 shares in the company, valued at $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 444,183 shares of company stock worth $86,521,198 over the last ninety days. Corporate insiders own 42.20% of the company’s stock.

Institutional Investors Weigh In On Oracle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORCL. Redmont Wealth Advisors LLC acquired a new stake in Oracle in the first quarter worth about $27,000. Inlight Wealth Management LLC acquired a new position in Oracle during the 1st quarter valued at about $28,000. Winnow Wealth LLC bought a new position in shares of Oracle in the 2nd quarter valued at about $28,000. Iron Horse Wealth Management LLC grew its position in shares of Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after buying an additional 151 shares during the period. Finally, Sunbeam Capital Management LLC bought a new stake in shares of Oracle during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Company Profile

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.