Oracle (NYSE:ORCL) Stock Price Up 1% – Here’s What Happened

Oracle Co. (NYSE:ORCL)’s stock price shot up 1% during mid-day trading on Thursday . The stock traded as high as $174.95 and last traded at $174.86. 854,465 shares changed hands during trading, a decline of 90% from the average session volume of 8,370,883 shares. The stock had previously closed at $173.10.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ORCL. DA Davidson increased their price target on Oracle from $105.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. TD Cowen boosted their price target on shares of Oracle from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Morgan Stanley upped their price objective on shares of Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. Evercore ISI boosted their target price on Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Piper Sandler upped their target price on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Oracle presently has an average rating of “Moderate Buy” and an average target price of $168.52.

Oracle Trading Up 0.9 %

The firm’s 50 day moving average is $158.68 and its 200 day moving average is $139.61. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $483.88 billion, a PE ratio of 45.07, a PEG ratio of 3.22 and a beta of 1.01.

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

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. Oracle’s dividend payout ratio (DPR) is presently 41.24%.

Insider Transactions at Oracle

In related news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction that occurred on 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 $7,076,685. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 42.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ORCL. Fairway Wealth LLC purchased a new position in shares of Oracle during the second quarter worth approximately $27,000. POM Investment Strategies LLC purchased a new position in Oracle in the 2nd quarter worth $30,000. Bbjs Financial Advisors LLC bought a new stake in Oracle in the second quarter worth $35,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in Oracle during the first quarter valued at about $38,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Oracle during the first quarter valued at about $40,000. Institutional investors own 42.44% of the company’s stock.

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.