Oracle Corporation to Issue Quarterly Dividend of $0.19 (ORCL)
Oracle Corporation (NYSE:ORCL) declared a quarterly dividend on Thursday, December 14th, RTT News reports. Shareholders of record on Wednesday, January 10th will be paid a dividend of 0.19 per share by the enterprise software provider on Wednesday, January 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.51%.
Oracle has raised its dividend payment by an average of 35.7% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Oracle has a payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Oracle to earn $2.87 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 26.5%.
Oracle (NYSE:ORCL) opened at $50.19 on Friday. Oracle has a one year low of $38.30 and a one year high of $53.14. The company has a market capitalization of $208,882.97, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.61 and a current ratio of 3.63.
Oracle (NYSE:ORCL) last announced its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. Oracle had a return on equity of 20.55% and a net margin of 25.34%. The business had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. sell-side analysts expect that Oracle will post 2.68 EPS for the current year.
A number of analysts have recently issued reports on the company. UBS set a $55.00 target price on Oracle and gave the stock a “neutral” rating in a research report on Friday. Jefferies Group set a $61.00 target price on Oracle and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada lowered Oracle from an “outperform” rating to a “sector perform” rating in a report on Friday. Moffett Nathanson assumed coverage on Oracle in a report on Wednesday, September 6th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, Vetr raised Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 price objective for the company in a report on Monday, September 18th. Fourteen research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $55.14.
In other news, EVP Dorian Daley sold 76,703 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $49.00, for a total transaction of $3,758,447.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $48.70, for a total transaction of $182,625.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 302,026 shares of company stock valued at $14,633,187. Company insiders own 29.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. North Star Asset Management Inc. boosted its position in shares of Oracle by 4.5% during the second quarter. North Star Asset Management Inc. now owns 127,739 shares of the enterprise software provider’s stock worth $6,404,000 after purchasing an additional 5,480 shares in the last quarter. Koch Industries Inc. boosted its position in shares of Oracle by 9,000.7% during the second quarter. Koch Industries Inc. now owns 430,190 shares of the enterprise software provider’s stock worth $422,000 after purchasing an additional 425,463 shares in the last quarter. High Falls Advisors Inc boosted its position in shares of Oracle by 15.7% during the second quarter. High Falls Advisors Inc now owns 7,399 shares of the enterprise software provider’s stock worth $371,000 after purchasing an additional 1,005 shares in the last quarter. Keel Point LLC boosted its position in shares of Oracle by 0.3% during the second quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock worth $268,000 after purchasing an additional 14 shares in the last quarter. Finally, National Asset Management Inc. boosted its position in shares of Oracle by 7.1% during the second quarter. National Asset Management Inc. now owns 12,364 shares of the enterprise software provider’s stock worth $621,000 after purchasing an additional 824 shares in the last quarter. 57.70% of the stock is currently owned by hedge funds and other institutional investors.
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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