Oracle (ORCL) Earns “Hold” Rating from Cleveland Research
A number of other equities analysts have also commented on the company. Barclays boosted their price objective on Oracle from $56.00 to $60.00 and gave the stock an overweight rating in a research note on Monday, March 12th. They noted that the move was a valuation call. OTR Global lowered Oracle to a positive rating in a research note on Friday, March 9th. Credit Suisse Group reaffirmed a buy rating and set a $62.00 price target on shares of Oracle in a research note on Sunday, February 18th. Vetr lowered Oracle from a buy rating to a hold rating and set a $51.30 price target on the stock. in a research note on Thursday, February 15th. Finally, ValuEngine raised Oracle from a hold rating to a buy rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $56.38.
Oracle (NYSE ORCL) opened at $51.95 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04. The company has a market capitalization of $216,377.00, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.05. Oracle has a one year low of $43.60 and a one year high of $53.48.
Oracle announced that its Board of Directors has initiated a stock repurchase program on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 17th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.46%. Oracle’s dividend payout ratio (DPR) is currently 32.62%.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the sale, the executive vice president now directly owns 136,954 shares in the company, valued at $6,517,640.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $49.72, for a total value of $186,450.00. Following the completion of the sale, the director now owns 18,125 shares of the company’s stock, valued at $901,175. The disclosure for this sale can be found here. Insiders sold 1,956,250 shares of company stock valued at $98,330,688 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC grew its holdings in shares of Oracle by 148.9% during the fourth quarter. Clearbridge Investments LLC now owns 15,759,813 shares of the enterprise software provider’s stock worth $745,124,000 after buying an additional 9,429,236 shares in the last quarter. BT Investment Management Ltd bought a new position in shares of Oracle during the second quarter worth about $459,738,000. Harris Associates L P grew its holdings in shares of Oracle by 17.9% during the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after buying an additional 7,427,501 shares in the last quarter. FMR LLC grew its holdings in shares of Oracle by 24.8% during the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock worth $1,658,750,000 after buying an additional 6,577,297 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Oracle by 50.2% during the fourth quarter. Mackenzie Financial Corp now owns 16,111,806 shares of the enterprise software provider’s stock worth $761,766,000 after buying an additional 5,387,078 shares in the last quarter. Institutional investors own 57.93% of the company’s stock.
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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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