Cleveland Research cut shares of Oracle (NYSE:ORCL) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, The Fly reports.
ORCL has been the topic of a number of other reports. JPMorgan Chase & Co. set a $55.00 price target on shares of Oracle and gave the company a buy rating in a research note on Monday, December 18th. Nomura assumed coverage on shares of Oracle in a research note on Tuesday, January 23rd. They issued a buy rating and a $64.00 price target on the stock. Vetr upgraded shares of Oracle from a hold rating to a buy rating and set a $51.77 price target on the stock in a research note on Monday, February 5th. Royal Bank of Canada set a $51.00 price target on shares of Oracle and gave the company a neutral rating in a research note on Monday, January 22nd. Finally, Instinet assumed coverage on shares of Oracle in a research note on Wednesday, January 24th. They issued a buy rating and a $51.12 price target on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $55.38.
Oracle (NYSE ORCL) opened at $49.89 on Tuesday. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. Oracle has a 1-year low of $41.93 and a 1-year high of $53.14. The company has a market cap of $206,520.00, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th were given a $0.19 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.52%. Oracle’s dividend payout ratio (DPR) is currently 32.62%.
Oracle declared that its Board of Directors has initiated a share buyback program on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In other news, insider Thomas Kurian sold 1,700,000 shares of Oracle stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $50.29, for a total value of $85,493,000.00. Following the completion of the sale, the insider now owns 1,522,983 shares in the company, valued at approximately $76,590,815.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction on Friday, December 15th. The shares were sold at an average price of $48.40, for a total transaction of $181,500.00. Following the completion of the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $877,250. The disclosure for this sale can be found here. Insiders sold a total of 1,956,250 shares of company stock worth $98,316,475 in the last 90 days. Corporate insiders own 29.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Oracle by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after acquiring an additional 5,270,359 shares in the last quarter. BlackRock Inc. increased its stake in shares of Oracle by 2.5% in the 2nd quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock valued at $9,716,707,000 after acquiring an additional 4,678,977 shares in the last quarter. Harris Associates L P increased its stake in shares of Oracle by 17.9% in the 2nd quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after acquiring an additional 7,427,501 shares in the last quarter. Northern Trust Corp increased its stake in shares of Oracle by 4.6% in the 2nd quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock valued at $2,110,799,000 after acquiring an additional 1,835,835 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Oracle by 1.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 41,717,395 shares of the enterprise software provider’s stock valued at $2,091,710,000 after acquiring an additional 482,220 shares in the last quarter. Institutional investors own 58.36% 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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