Oracle Co. (ORCL) To Go Ex-Dividend on October 10th

Oracle Co. (NYSE:ORCL) declared a quarterly dividend on Monday, September 9th, RTT News reports. Shareholders of record on Thursday, October 10th will be given a dividend of 0.40 per share by the enterprise software provider on Thursday, October 24th. This represents a $1.60 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, October 10th.

Oracle has increased its dividend payment by an average of 16.6% annually over the last three years and has increased its dividend every year for the last 15 years. Oracle has a payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Oracle to earn $5.75 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 27.8%.

Oracle Stock Performance

ORCL opened at $169.94 on Tuesday. The stock has a 50-day moving average of $147.84 and a 200-day moving average of $135.24. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. Oracle has a 52-week low of $99.26 and a 52-week high of $173.99. The company has a market cap of $470.91 billion, a PE ratio of 45.81, a price-to-earnings-growth ratio of 3.09 and a beta of 1.01.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. The company had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 earnings per share. As a group, equities research analysts forecast that Oracle will post 5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the transaction, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of Oracle stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the transaction, the chairman now owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at $7,076,685. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,573,181 shares of company stock valued at $225,338,245. 42.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of research reports. Piper Sandler increased their price target on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Sanford C. Bernstein lifted their target price on Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their price objective on Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Morgan Stanley boosted their price objective on Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. Finally, TD Cowen raised their target price on Oracle from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.42.

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.