Needham & Company LLC restated their hold rating on shares of Oracle (NYSE:ORCL) in a report published on Tuesday morning, AnalystRatings.com reports.
ORCL has been the subject of a number of other research reports. BMO Capital Markets boosted their price target on Oracle from $88.00 to $100.00 and gave the stock a market perform rating in a research report on Tuesday. They noted that the move was a valuation call. Morgan Stanley upped their price target on Oracle from $73.00 to $77.00 and gave the company an equal weight rating in a research report on Wednesday, June 16th. KeyCorp upped their target price on Oracle from $90.00 to $100.00 and gave the stock an overweight rating in a research report on Thursday, July 22nd. Piper Sandler upped their target price on Oracle from $57.00 to $80.00 and gave the stock a neutral rating in a research report on Wednesday, June 16th. Finally, Citigroup increased their target price on Oracle from $69.00 to $80.00 and gave the company a neutral rating in a research note on Wednesday, June 16th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $80.04.
Shares of ORCL stock opened at $86.39 on Tuesday. The stock has a market cap of $241.20 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.53 and a beta of 0.80. The business has a fifty day simple moving average of $88.73 and a 200-day simple moving average of $80.39. Oracle has a fifty-two week low of $55.14 and a fifty-two week high of $91.78. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 12.77.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 26th. Stockholders of record on Tuesday, October 12th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. Oracle’s payout ratio is 30.77%.
In related news, Director Naomi O. Seligman sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $87.88, for a total value of $3,075,800.00. Following the transaction, the director now owns 71,724 shares of the company’s stock, valued at approximately $6,303,105.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Boskin sold 37,500 shares of the firm’s stock in a transaction dated Friday, June 18th. The shares were sold at an average price of $76.66, for a total transaction of $2,874,750.00. Following the transaction, the director now directly owns 115,662 shares in the company, valued at approximately $8,866,648.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 385,000 shares of company stock valued at $30,231,050. 39.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ORCL. Baldrige Asset Management LLC purchased a new position in shares of Oracle during the 2nd quarter valued at approximately $28,000. Financial Insights Inc. purchased a new stake in Oracle in the 2nd quarter worth $28,000. Samalin Investment Counsel LLC purchased a new stake in shares of Oracle during the second quarter worth $28,000. Cowen Prime Advisors LLC purchased a new stake in shares of Oracle during the second quarter worth $31,000. Finally, Harbour Investments Inc. acquired a new position in shares of Oracle during the 1st quarter valued at about $34,000. Institutional investors own 44.47% of the company’s stock.
Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.
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