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 yield of 1.59%. The ex-dividend date of this dividend is Tuesday, January 9th.
Oracle has increased its dividend payment by an average of 14.5% per year over the last three years and has raised its dividend every year for the last 6 years. Oracle has a payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Oracle to earn $2.86 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 26.6%.
Shares of Oracle (ORCL) opened at $47.71 on Thursday. The firm has a market capitalization of $193,029.64, a P/E ratio of 20.48, a PEG ratio of 1.78 and a beta of 1.05. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. Oracle has a twelve month low of $38.38 and a twelve month high of $53.14.
Oracle announced that its Board of Directors has approved a stock buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction on Monday, October 16th. The shares were sold at an average price of $48.70, for a total value of $182,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the sale, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The disclosure for this sale can be found here. Insiders have sold a total of 111,250 shares of company stock valued at $5,306,238 in the last three months. Company insiders own 29.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. North Star Asset Management Inc. lifted its position in Oracle by 4.5% during the 2nd quarter. North Star Asset Management Inc. now owns 127,739 shares of the enterprise software provider’s stock worth $6,404,000 after acquiring an additional 5,480 shares during the last quarter. Koch Industries Inc. lifted its position in Oracle by 9,000.7% during the 2nd quarter. Koch Industries Inc. now owns 430,190 shares of the enterprise software provider’s stock worth $422,000 after acquiring an additional 425,463 shares during the last quarter. High Falls Advisors Inc lifted its position in Oracle by 15.7% during the 2nd quarter. High Falls Advisors Inc now owns 7,399 shares of the enterprise software provider’s stock worth $371,000 after acquiring an additional 1,005 shares during the last quarter. Keel Point LLC lifted its position in Oracle by 0.3% during the 2nd quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock worth $268,000 after acquiring an additional 14 shares during the last quarter. Finally, National Asset Management Inc. lifted its position in Oracle by 7.1% during the 2nd quarter. National Asset Management Inc. now owns 12,364 shares of the enterprise software provider’s stock worth $621,000 after acquiring an additional 824 shares during the last quarter. 57.89% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on ORCL shares. Vetr cut Oracle from a “sell” rating to a “strong sell” rating and set a $46.58 target price on the stock. in a report on Tuesday, September 12th. Rosenblatt Securities reissued a “buy” rating and set a $58.00 target price on shares of Oracle in a report on Monday, September 11th. Canaccord Genuity started coverage on Oracle in a report on Friday, October 6th. They set a “buy” rating and a $57.00 target price on the stock. Wedbush reissued a “buy” rating and set a $58.00 target price on shares of Oracle in a report on Friday, December 15th. Finally, BTIG Research reissued a “buy” rating and set a $58.00 target price on shares of Oracle in a report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $55.28.
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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