Oracle (NYSE:ORCL) Shares Up 6.6% - Here's What Happened

Oracle Co. (NYSE:ORCL - Get Free Report) shares rose 6.6% on Wednesday . The stock traded as high as $191.99 and last traded at $183.97. Approximately 25,686,918 shares were traded during mid-day trading, an increase of 124% from the average daily volume of 11,489,707 shares. The stock had previously closed at $172.57.

Analysts Set New Price Targets

Several analysts have recently commented on the company. DA Davidson raised their target price on Oracle from $140.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. BNP Paribas upgraded Oracle to a "strong-buy" rating in a report on Tuesday, December 10th. Piper Sandler raised their price objective on shares of Oracle from $185.00 to $210.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Stifel Nicolaus increased their price objective on Oracle from $155.00 to $175.00 and gave the stock a "hold" rating in a research note on Tuesday, December 10th. Finally, Evercore ISI increased their target price on shares of Oracle from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $182.73.

Oracle Stock Performance

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The business has a fifty day moving average of $174.54 and a 200 day moving average of $161.90. The company has a market cap of $518.71 billion, a P/E ratio of 45.35, a P/E/G ratio of 3.16 and a beta of 1.06.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($0.01). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $14.12 billion. During the same period in the previous year, the company earned $1.34 earnings per share. Oracle's quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that Oracle Co. will post 5.01 EPS for the current year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, January 23rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, January 10th. Oracle's payout ratio is 39.12%.

Institutional Investors Weigh In On Oracle

A number of hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC raised its stake in shares of Oracle by 16,023.4% in the third quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider's stock worth $351,890,000 after buying an additional 2,052,275 shares during the period. Franklin Resources Inc. raised its holdings in Oracle by 11.6% during the third quarter. Franklin Resources Inc. now owns 18,480,384 shares of the enterprise software provider's stock valued at $3,370,640,000 after acquiring an additional 1,917,416 shares during the period. State Street Corp lifted its position in shares of Oracle by 2.7% in the third quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider's stock valued at $12,003,241,000 after acquiring an additional 1,847,561 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Oracle by 2.6% in the third quarter. Geode Capital Management LLC now owns 35,194,683 shares of the enterprise software provider's stock valued at $5,977,015,000 after acquiring an additional 885,041 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Oracle by 2,899.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 913,700 shares of the enterprise software provider's stock worth $155,694,000 after acquiring an additional 883,233 shares during the period. Institutional investors own 42.44% of the company's stock.

About Oracle

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.

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