Monness Crespi & Hardt assumed coverage on shares of Oracle (NYSE:ORCL) in a report issued on Wednesday morning, Marketbeat.com reports. The firm issued a neutral rating on the enterprise software provider’s stock.
Other analysts have also recently issued reports about the company. Wedbush restated a buy rating and set a $58.00 price target on shares of Oracle in a report on Friday, December 15th. Goldman Sachs set a $58.00 price target on Oracle and gave the stock a buy rating in a report on Friday, December 15th. Canaccord Genuity reduced their price target on Oracle from $57.00 to $53.00 and set a buy rating on the stock in a report on Friday, December 15th. Jefferies Group set a $61.00 price target on Oracle and gave the stock a buy rating in a report on Friday, December 15th. Finally, JPMorgan Chase set a $55.00 price objective on Oracle and gave the stock a buy rating in a research note on Tuesday, December 12th. Seventeen equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Oracle presently has a consensus rating of Buy and a consensus target price of $56.11.
NYSE:ORCL opened at $46.08 on Wednesday. The stock has a market cap of $189,924.95, a PE ratio of 18.51, a PEG ratio of 1.69 and a beta of 1.15. The company has a current ratio of 4.33, a quick ratio of 4.30 and a debt-to-equity ratio of 1.16. Oracle has a 1-year low of $43.60 and a 1-year high of $53.48.
Oracle declared that its Board of Directors has authorized a share repurchase program on Friday, February 2nd that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Monday, April 16th. Oracle’s payout ratio is 30.52%.
In other news, insider Thomas Kurian sold 1,700,000 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the transaction, the insider now directly owns 1,522,983 shares of the company’s stock, valued at $76,590,815.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Berg sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $45.94, for a total value of $3,445,500.00. The disclosure for this sale can be found here. Insiders have sold 2,056,250 shares of company stock worth $102,760,938 over the last ninety days. 29.00% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Acrospire Investment Management LLC grew its holdings in Oracle by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after buying an additional 1,800 shares in the last quarter. Tarbox Family Office Inc. grew its holdings in Oracle by 71.1% during the fourth quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock worth $110,000 after buying an additional 965 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Oracle by 81,200.0% during the third quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock worth $118,000 after buying an additional 2,436 shares in the last quarter. Cerebellum GP LLC bought a new stake in Oracle during the fourth quarter worth $126,000. Finally, ETF Managers Group LLC bought a new stake in Oracle during the second quarter worth $133,000. 57.94% of the stock is currently owned by institutional investors.
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Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure technologies for information technology (IT) environments worldwide. It provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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