Vetr cut shares of Oracle (NYSE:ORCL) from a buy rating to a hold rating in a research report sent to investors on Wednesday. The brokerage currently has $51.82 price objective on the enterprise software provider’s stock.
Several other equities research analysts have also weighed in on the stock. Morgan Stanley raised shares of Oracle from an equal weight rating to an overweight rating and upped their target price for the stock from $46.63 to $47.71 in a report on Wednesday, January 3rd. Drexel Hamilton reaffirmed a buy rating and issued a $62.00 target price on shares of Oracle in a report on Tuesday, January 2nd. ValuEngine raised shares of Oracle from a hold rating to a buy rating in a report on Sunday, December 31st. Zacks Investment Research lowered shares of Oracle from a hold rating to a sell rating in a report on Tuesday, December 19th. Finally, Wedbush reissued a buy rating and set a $58.00 price objective on shares of Oracle in a report on Friday, December 15th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $55.27.
Shares of Oracle (NYSE:ORCL) opened at $50.58 on Wednesday. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. Oracle has a fifty-two week low of $39.43 and a fifty-two week high of $53.14. The firm has a market cap of $209,381.08, a PE ratio of 19.31, a PEG ratio of 1.93 and a beta of 1.05.
Oracle declared that its board has initiated a share repurchase plan on Thursday, December 14th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a yield of 1.50%. Oracle’s payout ratio is presently 32.62%.
In other Oracle news, insider Thomas Kurian sold 1,700,000 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were 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 in the company, valued at approximately $76,590,815.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $49.72, for a total transaction of $186,450.00. Following the transaction, the director now owns 18,125 shares in the company, valued at $901,175. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,811,250 shares of company stock worth $90,803,063. Corporate insiders own 29.00% of the company’s stock.
Several large investors have recently made changes to their positions in ORCL. Acrospire Investment Management LLC raised its position in shares of Oracle by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after acquiring an additional 1,800 shares during the period. Burt Wealth Advisors raised its position in shares of Oracle by 4.3% in the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after acquiring an additional 88 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of Oracle by 81,200.0% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $118,000 after acquiring an additional 2,436 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Oracle in the 2nd quarter valued at approximately $129,000. Finally, ETF Managers Group LLC acquired a new stake in shares of Oracle in the 2nd quarter valued at approximately $133,000. Institutional investors and hedge funds own 57.89% of the company’s stock.
Oracle Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
To view Vetr’s full report, visit Vetr’s official website.
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