Oracle Co. (NYSE:ORCL) announced a quarterly dividend on Wednesday, June 19th, RTT News reports. Stockholders of record on Wednesday, July 17th will be paid a dividend of 0.24 per share by the enterprise software provider on Wednesday, July 31st. This represents a $0.96 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, July 16th.
Oracle has increased its dividend payment by an average of 10.1% per year over the last three years and has raised its dividend every year for the last 7 years. Oracle has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Oracle to earn $3.82 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 25.1%.
Shares of NYSE ORCL opened at $59.81 on Friday. Oracle has a 12 month low of $42.40 and a 12 month high of $60.50. The stock has a market capitalization of $199.52 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.74 and a beta of 1.15. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.49 and a current ratio of 2.49. The company’s fifty day moving average is $55.07.
In other Oracle news, CAO W Corey West sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $56.25, for a total value of $2,812,500.00. Following the sale, the chief accounting officer now owns 85,348 shares of the company’s stock, valued at approximately $4,800,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Boskin sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $56.29, for a total value of $4,221,750.00. Following the completion of the sale, the director now directly owns 134,796 shares in the company, valued at approximately $7,587,666.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,970,000 shares of company stock worth $110,237,950. 32.00% of the stock is currently owned by insiders.
Several equities research analysts recently issued reports on the company. DZ Bank reissued a “neutral” rating on shares of Merck KGaA in a research note on Tuesday, March 19th. UBS Group reduced their price objective on Broadcom from $325.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Wedbush assumed coverage on Chewy in a research note on Thursday, June 20th. They issued a “neutral” rating for the company. Macquarie downgraded Oracle from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $56.00 to $55.00 in a research note on Tuesday, June 18th. They noted that the move was a valuation call. Finally, Raymond James set a C$19.50 price objective on Heroux Devtek and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $54.58.
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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