Oracle Co. (NYSE:ORCL) Declares $0.40 Quarterly Dividend

Oracle Co. (NYSE:ORCL) declared a quarterly dividend on Monday, September 9th, RTT News reports. Shareholders of record on Thursday, October 10th will be paid 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 1.14%.

Oracle has increased its dividend payment by an average of 16.6% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Oracle has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Oracle to earn $5.71 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 28.0%.

Oracle Price Performance

Shares of Oracle stock opened at $139.91 on Tuesday. Oracle has a 1-year low of $99.26 and a 1-year high of $146.59. The firm has a fifty day simple moving average of $138.65 and a 200-day simple moving average of $128.82. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 8.25. The stock has a market capitalization of $385.57 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 2.56 and a beta of 1.01.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a net margin of 19.76% and a return on equity of 223.01%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 earnings per share. On average, sell-side analysts expect that Oracle will post 5.02 earnings per share for the current year.

Insider Transactions at Oracle

In other news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Oracle news, Director Leon E. Panetta sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $137.89, for a total value of $2,068,350.00. Following the completion of the sale, the director now owns 58,090 shares in the company, valued at approximately $8,010,030.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was 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 in the company, valued at $164,630,281,802.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,862,500 shares of company stock valued at $266,776,624. Corporate insiders own 42.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Piper Sandler lifted their price target on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday. DA Davidson reiterated a “neutral” rating and set a $105.00 target price on shares of Oracle in a research note on Wednesday, June 12th. TD Cowen raised their price target on shares of Oracle from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Evercore ISI upped their price objective on shares of Oracle from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Finally, KeyCorp lifted their target price on Oracle from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $151.17.

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.