Oracle (NYSE:ORCL) Given New $220.00 Price Target at Bank of America

Oracle (NYSE:ORCL - Free Report) had its price objective raised by Bank of America from $156.00 to $220.00 in a research note published on Thursday morning,Benzinga reports. Bank of America currently has a neutral rating on the enterprise software provider's stock.

A number of other equities analysts have also recently commented on ORCL. Stephens began coverage on shares of Oracle in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $167.00 price objective for the company. Piper Sandler reissued a "neutral" rating and issued a $130.00 price objective on shares of Oracle in a research report on Wednesday. Evercore ISI cut their target price on shares of Oracle from $200.00 to $185.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Westpark Capital lifted their target price on Oracle from $195.00 to $246.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Monness Crespi & Hardt upgraded Oracle from a "sell" rating to a "neutral" rating in a research note on Monday, March 3rd. Twelve investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $192.30.

Oracle Price Performance

Shares of ORCL stock traded up $23.29 during mid-day trading on Thursday, hitting $199.67. The company had a trading volume of 54,558,768 shares, compared to its average volume of 9,567,888. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. The stock's 50 day moving average price is $149.60 and its 200-day moving average price is $160.36. Oracle has a 52-week low of $118.86 and a 52-week high of $202.43. The company has a market capitalization of $558.47 billion, a P/E ratio of 48.82, a P/E/G ratio of 3.46 and a beta of 1.32.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.63 EPS. Equities research analysts forecast that Oracle will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, July 10th. Oracle's payout ratio is 46.95%.

Insider Buying and Selling

In related news, Director Leon E. Panetta sold 17,500 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the completion of the sale, the director now directly owns 58,090 shares in the company, valued at approximately $8,785,531.60. The trade was a 23.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Naomi O. Seligman sold 2,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $145.81, for a total value of $291,620.00. Following the completion of the transaction, the director now owns 34,630 shares in the company, valued at $5,049,400.30. The trade was a 5.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,366 shares of company stock worth $4,015,723. Insiders own 42.20% of the company's stock.

Hedge Funds Weigh In On Oracle

A number of institutional investors and hedge funds have recently bought and sold shares of ORCL. Redmont Wealth Advisors LLC acquired a new position in shares of Oracle during the 1st quarter worth approximately $27,000. Inlight Wealth Management LLC purchased a new stake in shares of Oracle in the 1st quarter valued at approximately $28,000. Iron Horse Wealth Management LLC boosted its position in shares of Oracle by 284.9% during the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after buying an additional 151 shares during the period. Sunbeam Capital Management LLC purchased a new position in Oracle during the 4th quarter valued at about $30,000. Finally, Hurley Capital LLC acquired a new stake in Oracle during the 4th quarter worth approximately $33,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

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.