Oracle Corporation (ORCL) Director George H. Conrades Sells 56,250 Shares
Oracle Corporation (NYSE:ORCL) Director George H. Conrades sold 56,250 shares of Oracle Corporation stock in a transaction on Friday, September 29th. The shares were sold at an average price of $48.22, for a total transaction of $2,712,375.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $482,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Oracle Corporation (ORCL) traded up 0.56% on Friday, reaching $48.35. 44,896,559 shares of the company’s stock were exchanged. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $53.14. The stock has a market capitalization of $201.77 billion, a PE ratio of 21.03 and a beta of 1.05. The firm has a 50 day moving average of $49.85 and a 200 day moving average of $47.11.
Oracle Corporation (NYSE:ORCL) last announced its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The business had revenue of $9.21 billion for the quarter, compared to analyst estimates of $9.03 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Oracle Corporation’s revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 11th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, October 10th. Oracle Corporation’s dividend payout ratio (DPR) is currently 33.19%.
A number of hedge funds have recently made changes to their positions in ORCL. Nicolet Bankshares Inc. increased its position in Oracle Corporation by 103.4% during the first quarter. Nicolet Bankshares Inc. now owns 26,925 shares of the enterprise software provider’s stock worth $1,201,000 after acquiring an additional 13,688 shares during the period. Global Thematic Partners LLC increased its position in Oracle Corporation by 11.0% during the first quarter. Global Thematic Partners LLC now owns 2,772,523 shares of the enterprise software provider’s stock worth $123,680,000 after acquiring an additional 275,475 shares during the period. Van Cleef Asset Management Inc increased its position in Oracle Corporation by 1.4% during the first quarter. Van Cleef Asset Management Inc now owns 165,813 shares of the enterprise software provider’s stock worth $7,397,000 after acquiring an additional 2,250 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in Oracle Corporation by 2.7% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 82,221 shares of the enterprise software provider’s stock worth $3,429,000 after acquiring an additional 2,181 shares during the period. Finally, Baxter Bros Inc. bought a new position in Oracle Corporation during the first quarter worth $202,000. 58.65% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on ORCL. UBS AG restated a “buy” rating and issued a $52.00 price objective (up from $48.00) on shares of Oracle Corporation in a research note on Thursday, June 22nd. They noted that the move was a valuation call. Wedbush upgraded shares of Oracle Corporation from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $56.00 to $44.00 in a research note on Thursday, June 22nd. BMO Capital Markets lifted their price objective on shares of Oracle Corporation from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, June 22nd. Moffett Nathanson began coverage on shares of Oracle Corporation in a research note on Wednesday, September 6th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Vetr upgraded shares of Oracle Corporation from a “strong sell” rating to a “sell” rating and set a $46.58 price objective on the stock in a research note on Monday, September 18th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $53.33.
Oracle Corporation Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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