Oracle (NYSE:ORCL) Issues Quarterly Earnings Results

Oracle (NYSE:ORCL) issued its earnings results on Monday. The enterprise software provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04, MarketWatch Earnings reports. Oracle had a net margin of 17.02% and a negative return on equity of 470.73%. The company had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.48 billion. During the same period in the prior year, the business earned $0.81 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Oracle updated its Q2 guidance to $1.30-1.34 EPS.

Oracle Price Performance

Oracle stock opened at $109.61 on Wednesday. The company’s fifty day moving average price is $117.41 and its 200 day moving average price is $105.85. Oracle has a 1 year low of $60.78 and a 1 year high of $127.54. The stock has a market capitalization of $297.51 billion, a P/E ratio of 35.82, a P/E/G ratio of 3.48 and a beta of 1.00. The company has a debt-to-equity ratio of 55.54, a quick ratio of 0.91 and a current ratio of 0.91.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Thursday, October 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.46%. Oracle’s dividend payout ratio is currently 52.29%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ORCL. Piper Sandler restated an “overweight” rating and issued a $130.00 price target on shares of Oracle in a report on Tuesday. Bank of America raised their price target on shares of Oracle from $112.00 to $132.00 in a report on Tuesday, June 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Oracle from $120.00 to $135.00 in a report on Tuesday, June 13th. Barclays lowered their price target on shares of Oracle from $150.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, VNET Group restated a “maintains” rating on shares of Oracle in a report on Tuesday, June 13th. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $122.10.

Insider Activity at Oracle

In related news, Director Michael J. Boskin sold 90,000 shares of Oracle stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $118.83, for a total value of $10,694,700.00. Following the sale, the director now owns 87,473 shares of the company’s stock, valued at approximately $10,394,416.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Oracle news, EVP Maria Smith sold 3,680 shares of Oracle stock in a transaction on Friday, July 7th. The shares were sold at an average price of $115.00, for a total transaction of $423,200.00. Following the sale, the executive vice president now owns 16,600 shares of the company’s stock, valued at approximately $1,909,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael J. Boskin sold 90,000 shares of Oracle stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $118.83, for a total transaction of $10,694,700.00. Following the sale, the director now directly owns 87,473 shares in the company, valued at approximately $10,394,416.59. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,175,443 shares of company stock valued at $510,658,596. 43.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oracle

Several institutional investors and hedge funds have recently added to or reduced their stakes in ORCL. Studio Investment Management LLC acquired a new position in shares of Oracle during the 4th quarter valued at about $42,000. IMA Wealth Inc. boosted its position in shares of Oracle by 30.5% during the 2nd quarter. IMA Wealth Inc. now owns 428 shares of the enterprise software provider’s stock valued at $51,000 after acquiring an additional 100 shares during the last quarter. Milestone Investment Advisors LLC acquired a new position in shares of Oracle during the 1st quarter valued at about $56,000. First Capital Advisors Group LLC. purchased a new stake in Oracle in the 2nd quarter valued at about $93,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Oracle in the 4th quarter valued at about $104,000. Institutional investors and hedge funds 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.