The Goldman Sachs Group Issues Positive Forecast for Oracle (NYSE:ORCL) Stock Price

Oracle (NYSE:ORCL) had its target price hoisted by The Goldman Sachs Group from $195.00 to $310.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the enterprise software provider’s stock.

Other research analysts have also issued reports about the company. Cowen reiterated a “buy” rating and issued a $375.00 price objective on shares of Oracle in a research report on Wednesday, September 10th. Cantor Fitzgerald raised their price objective on Oracle from $271.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 10th. Morgan Stanley lifted their price target on Oracle from $175.00 to $246.00 and gave the company an “equal weight” rating in a research note on Monday, September 8th. Scotiabank reaffirmed an “outperform” rating on shares of Oracle in a research report on Wednesday, September 10th. Finally, Westpark Capital lifted their target price on Oracle from $195.00 to $246.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $303.44.

Oracle Trading Up 3.4%

ORCL stock opened at $302.10 on Monday. The firm has a market cap of $858.48 billion, a P/E ratio of 69.93, a P/E/G ratio of 3.16 and a beta of 1.46. Oracle has a 1-year low of $118.86 and a 1-year high of $345.72. The business’s 50 day moving average is $246.08 and its 200-day moving average is $191.63. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.33.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.7%. Oracle’s dividend payout ratio is currently 46.30%.

Insiders Place Their Bets

In related news, EVP Maria Smith sold 10,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the sale, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Naomi O. Seligman sold 3,303 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the transaction, the director directly owned 31,447 shares in the company, valued at approximately $7,337,214.04. This represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,183 shares of company stock worth $7,141,698. 42.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Oracle

Large investors have recently modified their holdings of the business. Redmont Wealth Advisors LLC purchased a new position in shares of Oracle during the first quarter valued at approximately $27,000. Inlight Wealth Management LLC bought a new stake in Oracle in the 1st quarter worth approximately $28,000. Winnow Wealth LLC bought a new stake in Oracle in the 2nd quarter worth approximately $28,000. Iron Horse Wealth Management LLC grew its position in Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after purchasing an additional 151 shares during the period. Finally, Sunbeam Capital Management LLC bought a new stake in shares of Oracle during the 4th quarter valued at $30,000. 42.44% of the stock is owned by 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.