Oracle (NYSE:ORCL) Sets New 52-Week High – Here’s Why

Oracle Co. (NYSE:ORCL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $174.89 and last traded at $174.88, with a volume of 318145 shares changing hands. The stock had previously closed at $174.37.

Analysts Set New Price Targets

A number of research analysts have commented on ORCL shares. Melius upgraded Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Monday, September 16th. JMP Securities upgraded Oracle from a “market perform” rating to an “outperform” rating and set a $175.00 target price for the company in a report on Tuesday, September 10th. Argus boosted their price target on shares of Oracle from $145.00 to $159.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. UBS Group increased their price target on shares of Oracle from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Barclays lifted their price objective on shares of Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and a consensus price target of $167.42.

Oracle Trading Up 1.0 %

The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The business has a fifty day simple moving average of $149.25 and a 200 day simple moving average of $135.86. The stock has a market cap of $488.23 billion, a price-to-earnings ratio of 47.02, a PEG ratio of 3.09 and a beta of 1.01.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. The business had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, equities analysts anticipate that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 10th. Oracle’s dividend payout ratio is currently 43.13%.

Insider Buying and Selling

In other Oracle news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now owns 42,889 shares in the company, valued at $7,076,685. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,146,320 shares of company stock worth $164,762,400. 42.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oracle

Several hedge funds and other institutional investors have recently modified their holdings of ORCL. Westend Capital Management LLC purchased a new position in Oracle in the first quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new position in shares of Oracle in the 2nd quarter valued at $27,000. POM Investment Strategies LLC acquired a new position in shares of Oracle during the 2nd quarter valued at $30,000. Bbjs Financial Advisors LLC acquired a new position in shares of Oracle during the 2nd quarter valued at $35,000. Finally, Alaska Permanent Fund Corp purchased a new stake in Oracle during the 1st quarter worth $36,000. 42.44% of the stock is owned by institutional investors and hedge funds.

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 Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.