Oracle (NYSE:ORCL) Sets New 12-Month High Following Dividend Announcement

Oracle Corporation (NYSE:ORCL)’s share price hit a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $241.51.

The newly announced dividend which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be given a $0.50 dividend. The ex-dividend date is Thursday, October 9th. This represents a $2.00 annualized dividend and a yield of 0.7%. Oracle’s dividend payout ratio is 46.08%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Roth Capital restated a “hold” rating on shares of Oracle in a research report on Wednesday, June 18th. BNP Paribas set a $377.00 target price on shares of Oracle in a report on Wednesday. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Oracle in a research note on Wednesday, June 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $195.00 price objective (up previously from $145.00) on shares of Oracle in a research note on Friday, June 13th. Finally, Jefferies Financial Group increased their target price on shares of Oracle from $270.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.84.

Oracle Price Performance

The stock’s 50-day moving average price is $243.59 and its 200-day moving average price is $189.52. The company has a market capitalization of $864.11 billion, a price-to-earnings ratio of 71.21, a price-to-earnings-growth ratio of 4.91 and a beta of 1.46. The company has a quick ratio of 0.75, a current ratio of 0.62 and a debt-to-equity ratio of 3.33.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.08% and a return on equity of 72.93%. Oracle’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 earnings per share. Equities research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total value of $4,041,142.40. Following the completion of the transaction, the insider owned 99,212 shares of the company’s stock, valued at $25,247,469.76. This trade represents a 13.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rona Alison Fairhead acquired 480 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was purchased at an average cost of $233.87 per share, with a total value of $112,257.60. Following the transaction, the director owned 22,110 shares in the company, valued at approximately $5,170,865.70. This trade represents a 2.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 44,183 shares of company stock valued at $10,353,198 in the last quarter. Company insiders own 42.20% of the company’s stock.

Institutional Trading of Oracle

Institutional investors have recently bought and sold shares of the business. Winnow Wealth LLC acquired a new position in shares of Oracle in the 2nd quarter valued at approximately $28,000. Kilter Group LLC bought a new stake in Oracle during the 2nd quarter worth approximately $30,000. LGT Financial Advisors LLC bought a new stake in shares of Oracle in the 2nd quarter valued at $33,000. Legend Financial Advisors Inc. bought a new stake in shares of Oracle in the 2nd quarter valued at $34,000. Finally, HighMark Wealth Management LLC bought a new position in Oracle during the second quarter worth $38,000. Institutional investors own 42.44% of the company’s stock.

About Oracle

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.