Oracle’s (ORCL) Outperform Rating Reaffirmed at Wedbush
Wedbush reiterated their outperform rating on shares of Oracle (NYSE:ORCL) in a report published on Tuesday morning. Wedbush currently has a $55.00 target price on the enterprise software provider’s stock.
A number of other brokerages have also commented on ORCL. Canaccord Genuity cut their price target on Oracle from $57.00 to $53.00 and set a buy rating on the stock in a research note on Friday, December 15th. Vetr lowered Oracle from a buy rating to a hold rating and set a $51.82 price target on the stock. in a research note on Wednesday, January 17th. JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the company a buy rating in a research note on Tuesday, December 12th. ValuEngine raised Oracle from a hold rating to a buy rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus lowered Oracle from a buy rating to a hold rating and set a $53.00 price objective on the stock. in a research note on Tuesday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $56.17.
Shares of Oracle (NYSE ORCL) opened at $45.89 on Tuesday. Oracle has a 12 month low of $43.60 and a 12 month high of $53.48. The company has a market capitalization of $194,644.09, a PE ratio of 17.16, a PEG ratio of 1.78 and a beta of 1.05. The company has a debt-to-equity ratio of 1.16, a quick ratio of 5.04 and a current ratio of 4.33.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.66%. Oracle’s dividend payout ratio is 92.68%.
Oracle announced that its board has approved a stock buyback plan on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Thomas Kurian sold 1,700,000 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the sale, the insider now owns 1,522,983 shares in the company, valued at $76,590,815.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $49.72, for a total value of $186,450.00. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $901,175. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,856,250 shares of company stock valued at $93,571,688. Corporate insiders own 29.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORCL. Beach Investment Management LLC. purchased a new position in shares of Oracle during the second quarter valued at approximately $336,000. Sequoia Financial Advisors LLC boosted its position in shares of Oracle by 13.4% during the second quarter. Sequoia Financial Advisors LLC now owns 102,745 shares of the enterprise software provider’s stock valued at $5,152,000 after buying an additional 12,147 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Oracle by 0.9% during the second quarter. Oppenheimer & Co. Inc. now owns 138,733 shares of the enterprise software provider’s stock valued at $6,956,000 after buying an additional 1,252 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Oracle by 7.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 170,840 shares of the enterprise software provider’s stock valued at $8,566,000 after buying an additional 11,244 shares during the last quarter. Finally, Cedar Capital LLC boosted its position in shares of Oracle by 18.6% during the second quarter. Cedar Capital LLC now owns 10,365 shares of the enterprise software provider’s stock valued at $520,000 after buying an additional 1,624 shares during the last quarter. Hedge funds and other institutional investors own 57.93% of the company’s stock.
Oracle 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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