Oracle Co. (NYSE:ORCL – Get Rating) announced a quarterly dividend on Tuesday, September 13th, Wall Street Journal reports. Investors of record on Wednesday, October 12th will be paid a dividend of 0.32 per share by the enterprise software provider on Tuesday, October 25th. This represents a $1.28 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, October 11th.
Oracle has increased its dividend by an average of 19.0% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Oracle has a dividend payout ratio of 24.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Oracle to earn $4.85 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 26.4%.
Oracle Stock Performance
Shares of Oracle stock traded down $1.04 during midday trading on Tuesday, reaching $76.04. 29,429,098 shares of the company’s stock traded hands, compared to its average volume of 8,216,804. The company has a market cap of $202.64 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87. Oracle has a 52 week low of $63.76 and a 52 week high of $106.34. The company’s 50 day simple moving average is $75.00 and its 200 day simple moving average is $74.94.
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Oracle (NYSE:ORCL – Get Rating) last issued its earnings results on Monday, September 12th. The enterprise software provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.04). Oracle had a net margin of 15.83% and a negative return on equity of 193.58%. The business had revenue of $11.45 billion for the quarter, compared to analyst estimates of $11.44 billion. During the same quarter last year, the firm posted $0.87 earnings per share. Oracle’s revenue was up 17.7% on a year-over-year basis. As a group, equities research analysts predict that Oracle will post 4.43 earnings per share for the current year.
Insider Buying and Selling
In related news, CEO Safra Catz sold 1,000,000 shares of Oracle stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $68.08, for a total value of $68,080,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $76,153,743.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Safra Catz sold 1,000,000 shares of Oracle stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $68.08, for a total transaction of $68,080,000.00. Following the sale, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at approximately $76,153,743.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Screven sold 419,174 shares of Oracle stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $69.22, for a total value of $29,015,224.28. Following the sale, the insider now directly owns 2,492,613 shares in the company, valued at approximately $172,538,671.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,399,174 shares of company stock worth $232,369,224. 43.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Oracle
Large investors have recently bought and sold shares of the business. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Oracle during the 1st quarter worth $36,794,000. Eaton Vance Management increased its position in Oracle by 26.5% during the 1st quarter. Eaton Vance Management now owns 1,752,778 shares of the enterprise software provider’s stock valued at $145,008,000 after buying an additional 366,636 shares in the last quarter. Ensign Peak Advisors Inc increased its position in Oracle by 27.7% during the 1st quarter. Ensign Peak Advisors Inc now owns 1,552,602 shares of the enterprise software provider’s stock valued at $128,446,000 after buying an additional 337,195 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Oracle by 12.9% in the first quarter. Mackenzie Financial Corp now owns 2,259,340 shares of the enterprise software provider’s stock valued at $186,915,000 after purchasing an additional 258,075 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in shares of Oracle by 3.6% in the second quarter. Macquarie Group Ltd. now owns 6,035,064 shares of the enterprise software provider’s stock valued at $421,669,000 after purchasing an additional 209,156 shares during the period. Hedge funds and other institutional investors own 41.92% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on ORCL shares. Monness Crespi & Hardt started coverage on shares of Oracle in a research note on Tuesday. They set a “buy” rating and a $113.00 price target for the company. UBS Group set a $75.00 price target on shares of Oracle in a research note on Tuesday. The Goldman Sachs Group reissued a “sell” rating and issued a $75.00 price objective on shares of Oracle in a research report on Monday, June 27th. Exane BNP Paribas raised shares of Oracle from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 29th. Finally, Barclays set a $82.00 price target on shares of Oracle in a research report on Friday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.91.
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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.
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