Oracle (NYSE:ORCL) Reaches New 12-Month High After Dividend Announcement

Oracle Corporation (NYSE:ORCL)’s stock price hit a new 52-week high during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $320.99 and last traded at $325.92, with a volume of 5507510 shares traded. The stock had previously closed at $241.51.

The newly announced dividend which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. Oracle’s dividend payout ratio (DPR) is presently 46.08%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Westpark Capital raised their price target on shares of Oracle from $195.00 to $246.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $240.00 price target (up from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Loop Capital set a $135.00 price target on shares of Oracle in a research note on Tuesday, June 10th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Oracle in a report on Wednesday, June 18th. Finally, KeyCorp raised their price objective on shares of Oracle from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $285.07.

Oracle Price Performance

The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The company has a market capitalization of $946.72 billion, a P/E ratio of 77.69, a P/E/G ratio of 3.56 and a beta of 1.46. The company’s 50-day simple moving average is $240.23 and its 200 day simple moving average is $187.60.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the previous year, the company earned $1.63 earnings per share. Oracle’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts expect that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling at Oracle

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the transaction, the insider directly owned 60,722 shares of the company’s stock, valued at $13,000,580.20. This trade represents a 19.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the transaction, the executive vice president directly owned 40,807 shares of the company’s stock, valued at approximately $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 444,183 shares of company stock worth $86,521,198 over the last ninety days. 42.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oracle

A number of large investors have recently modified their holdings of the company. Snider Financial Group grew its holdings in shares of Oracle by 1.3% in the second quarter. Snider Financial Group now owns 3,204 shares of the enterprise software provider’s stock worth $701,000 after acquiring an additional 40 shares during the period. SNS Financial Group LLC lifted its holdings in shares of Oracle by 0.9% during the 2nd quarter. SNS Financial Group LLC now owns 4,896 shares of the enterprise software provider’s stock valued at $1,070,000 after purchasing an additional 42 shares during the last quarter. PKS Advisory Services LLC raised its stake in shares of Oracle by 1.9% during the 2nd quarter. PKS Advisory Services LLC now owns 2,211 shares of the enterprise software provider’s stock valued at $483,000 after buying an additional 42 shares during the last quarter. Reyes Financial Architecture Inc. increased its stake in shares of Oracle by 7.2% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 643 shares of the enterprise software provider’s stock valued at $141,000 after purchasing an additional 43 shares in the last quarter. Finally, Creative Capital Management Investments LLC grew its position in shares of Oracle by 5.7% in the second quarter. Creative Capital Management Investments LLC now owns 798 shares of the enterprise software provider’s stock valued at $174,000 after purchasing an additional 43 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

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.