Oracle (NYSE:ORCL) Reaches New 12-Month High - Here's What Happened

Oracle Corporation (NYSE:ORCL - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $241.44 and last traded at $238.60, with a volume of 3881226 shares. The stock had previously closed at $232.26.

Analyst Ratings Changes

ORCL has been the topic of several research reports. Cowen restated a "buy" rating on shares of Oracle in a report on Thursday, June 12th. Raymond James Financial restated a "strong-buy" rating on shares of Oracle in a report on Wednesday, June 18th. CIBC reissued a "buy" rating on shares of Oracle in a research report on Monday, June 9th. Jefferies Financial Group raised their price objective on Oracle from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Piper Sandler upgraded Oracle from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $190.00 to $270.00 in a research note on Thursday. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Oracle presently has a consensus rating of "Moderate Buy" and an average price target of $209.33.

Oracle Price Performance

The stock has a 50 day simple moving average of $183.77 and a two-hundred day simple moving average of $165.63. The firm has a market cap of $660.30 billion, a PE ratio of 54.17, a price-to-earnings-growth ratio of 3.51 and a beta of 1.39. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The company's revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. Sell-side analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be paid a $0.50 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.85%. Oracle's dividend payout ratio is presently 46.08%.

Insider Transactions at Oracle

In related news, Director Leon E. Panetta sold 17,500 shares of Oracle stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the completion of the transaction, the director owned 58,090 shares in the company, valued at $8,785,531.60. The trade was a 23.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the transaction, the executive vice president owned 40,807 shares of the company's stock, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 450,366 shares of company stock worth $85,433,503 over the last quarter. Company insiders own 42.20% of the company's stock.

Hedge Funds Weigh In On Oracle

Several institutional investors and hedge funds have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. increased its stake in Oracle by 71.6% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock worth $35,984,000 after buying an additional 107,404 shares in the last quarter. Rockland Trust Co. increased its stake in Oracle by 4.8% during the 1st quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock worth $1,421,000 after buying an additional 467 shares in the last quarter. Calamos Advisors LLC increased its stake in Oracle by 1.5% during the 1st quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock worth $99,445,000 after buying an additional 10,426 shares in the last quarter. Cornerstone Advisory LLC increased its stake in Oracle by 34.1% during the 4th quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider's stock worth $2,258,000 after buying an additional 3,299 shares in the last quarter. Finally, Peak Retirement Planning Inc. acquired a new position in shares of Oracle during the 4th quarter worth approximately $211,000. Hedge funds and other institutional investors 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.