Oracle Co. (NYSE:ORCL) declared a quarterly dividend on Monday, December 17th, Zacks reports. Stockholders of record on Wednesday, January 16th will be paid a dividend of 0.19 per share by the enterprise software provider on Wednesday, January 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, January 15th.
Oracle has raised its dividend by an average of 10.1% annually over the last three years and has raised its dividend every year for the last 7 years. Oracle has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Oracle to earn $3.32 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 22.9%.
Shares of Oracle stock opened at $48.29 on Monday. The stock has a market cap of $197.79 billion, a PE ratio of 17.12, a PEG ratio of 1.59 and a beta of 1.04. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 1.66. Oracle has a twelve month low of $42.40 and a twelve month high of $53.48.
Oracle declared that its board has approved a stock buyback program on Monday, September 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
ORCL has been the subject of several recent research reports. Nomura set a $53.00 price target on Oracle and gave the stock a “buy” rating in a research report on Wednesday, December 12th. Rosenblatt Securities reiterated a “hold” rating and issued a $51.00 price target on shares of Oracle in a research report on Tuesday, October 30th. Barclays lowered Oracle from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $60.00 to $55.00 in a research report on Wednesday, January 9th. UBS Group reiterated a “neutral” rating and issued a $51.00 price target on shares of Oracle in a research report on Tuesday, December 18th. Finally, Atlantic Securities started coverage on Oracle in a research report on Wednesday, January 9th. They issued an “underweight” rating and a $45.00 price target for the company. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have assigned a buy rating to the stock. Oracle has a consensus rating of “Hold” and an average price target of $52.48.
In other news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Monday, December 17th. The shares were sold at an average price of $46.42, for a total transaction of $174,075.00. Following the completion of the sale, the director now owns 27,969 shares of the company’s stock, valued at $1,298,320.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dorian Daley sold 6,302 shares of Oracle stock in a transaction that occurred on Monday, December 24th. The shares were sold at an average price of $43.24, for a total transaction of $272,498.48. Following the sale, the executive vice president now directly owns 77,919 shares of the company’s stock, valued at approximately $3,369,217.56. The disclosure for this sale can be found here. Insiders have sold 38,802 shares of company stock valued at $1,759,111 in the last ninety days. Insiders own 32.00% of the company’s stock.
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Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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