Oracle Corporation (NYSE:ORCL) Announces Quarterly Dividend of $0.19
Oracle Corporation (NYSE:ORCL) declared a quarterly dividend on Thursday, September 14th, RTT News reports. Shareholders of record on Wednesday, October 11th will be paid a dividend of 0.19 per share by the enterprise software provider on Wednesday, October 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, October 10th.
Oracle Corporation has raised its dividend payment by an average of 35.7% per year over the last three years and has raised its dividend every year for the last 5 years. Oracle Corporation has a dividend payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Oracle Corporation to earn $2.87 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 26.5%.
Shares of Oracle Corporation (NYSE ORCL) traded up 0.79% during trading on Friday, hitting $48.61. 10,142,300 shares of the stock were exchanged. The firm’s 50 day moving average price is $49.42 and its 200-day moving average price is $47.64. Oracle Corporation has a 52 week low of $37.64 and a 52 week high of $53.14. The stock has a market cap of $202.85 billion, a P/E ratio of 21.14 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last posted its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. On average, analysts predict that Oracle Corporation will post $2.94 EPS for the current year.
Several equities research analysts have recently commented on the stock. Vetr lowered shares of Oracle Corporation from a “buy” rating to a “hold” rating and set a $46.58 price target for the company. in a research report on Sunday, September 3rd. Zacks Investment Research lowered shares of Oracle Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Oracle Corporation in a research report on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $53.00 price target on shares of Oracle Corporation in a research report on Sunday, August 27th. Finally, ValuEngine raised shares of Oracle Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty-one have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.37.
In other news, insider Thomas Kurian sold 750,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total value of $37,845,000.00. Following the completion of the sale, the insider now directly owns 783,533 shares in the company, valued at $39,537,075.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dorian Daley sold 76,703 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $49.00, for a total value of $3,758,447.00. The disclosure for this sale can be found here. Insiders sold 1,055,776 shares of company stock valued at $52,673,112 over the last 90 days. Company insiders own 29.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC increased its position in shares of Oracle Corporation by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after purchasing an additional 1,800 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of Oracle Corporation by 65.9% during the second quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after purchasing an additional 947 shares in the last quarter. ETF Managers Group LLC purchased a new stake in shares of Oracle Corporation during the second quarter worth approximately $133,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Oracle Corporation during the second quarter worth approximately $200,000. Finally, Hancock Holding Co. purchased a new stake in shares of Oracle Corporation during the second quarter worth approximately $201,000. Hedge funds and other institutional investors own 57.83% of the company’s stock.
About Oracle Corporation
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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