Oracle (NYSE:ORCL) Stock Price Up 1.3% - Here's Why

Oracle Corporation (NYSE:ORCL - Get Free Report)'s share price shot up 1.3% during trading on Tuesday . The company traded as high as $241.44 and last traded at $235.30. 6,851,048 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 10,176,001 shares. The stock had previously closed at $232.26.

Analyst Ratings Changes

A number of research firms have commented on ORCL. Royal Bank Of Canada lifted their price objective on shares of Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a report on Thursday, June 12th. Piper Sandler raised shares of Oracle from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $190.00 to $270.00 in a report on Thursday. Guggenheim lifted their price objective on shares of Oracle from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Westpark Capital lifted their price objective on shares of Oracle from $195.00 to $246.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, DA Davidson lifted their price objective on shares of Oracle from $140.00 to $170.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Nine analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $209.33.

Oracle Stock Down 0.3%

The firm has a 50 day moving average of $183.77 and a 200 day moving average of $165.63. The firm has a market cap of $660.30 billion, a price-to-earnings ratio of 54.17, a PEG ratio of 3.53 and a beta of 1.39. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07.

Oracle (NYSE:ORCL - Get Free Report) last released its 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. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter last year, the firm posted $1.63 earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. As a group, sell-side analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

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

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the transaction, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider owned 60,722 shares in the company, valued at approximately $13,000,580.20. The trade was a 19.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 450,366 shares of company stock valued at $85,433,503. 42.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ORCL. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Oracle by 71.6% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock valued at $35,984,000 after purchasing an additional 107,404 shares in the last quarter. Rockland Trust Co. lifted its holdings in shares of Oracle by 4.8% in the first quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock valued at $1,421,000 after purchasing an additional 467 shares in the last quarter. Calamos Advisors LLC lifted its holdings in shares of Oracle by 1.5% in the first quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock valued at $99,445,000 after purchasing an additional 10,426 shares in the last quarter. Cornerstone Advisory LLC lifted its holdings in shares of Oracle by 34.1% in the fourth quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider's stock valued at $2,258,000 after purchasing an additional 3,299 shares in the last quarter. Finally, Peak Retirement Planning Inc. bought a new position in shares of Oracle in the fourth quarter valued at approximately $211,000. Institutional investors own 42.44% of the company's stock.

Oracle Company Profile

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.