JPMorgan Chase & Co. Issues Positive Forecast for Oracle (NYSE:ORCL) Stock Price

Oracle (NYSE:ORCL) had its price objective hoisted by JPMorgan Chase & Co. from $135.00 to $185.00 in a research note released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the enterprise software provider’s stock.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets lifted their price objective on Oracle from $175.00 to $200.00 and gave the stock a “market perform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on Oracle from $200.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday. Westpark Capital lifted their price objective on Oracle from $195.00 to $246.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler reissued a “neutral” rating and set a $130.00 price target on shares of Oracle in a research report on Wednesday. Finally, Stifel Nicolaus raised their price target on Oracle from $150.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday. Twelve research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Oracle has an average rating of “Moderate Buy” and a consensus price target of $192.30.

Oracle Stock Up 13.2%

ORCL opened at $199.67 on Thursday. The business has a 50 day simple moving average of $151.06 and a 200-day simple moving average of $160.44. The stock has a market capitalization of $558.47 billion, a P/E ratio of 48.82, a P/E/G ratio of 3.46 and a beta of 1.32. Oracle has a 12 month low of $118.86 and a 12 month high of $202.49. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The firm had revenue of $15.90 billion during the quarter, compared to analysts’ expectations of $15.58 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. Oracle’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 earnings per share. On average, equities analysts anticipate that Oracle will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, July 10th. Oracle’s payout ratio is currently 46.95%.

Insider Activity at Oracle

In related news, Director Naomi O. Seligman sold 2,866 shares of Oracle stock in a transaction on Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the transaction, the director now owns 31,764 shares in the company, valued at approximately $4,749,670.92. This trade represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leon E. Panetta sold 5,000 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $129.77, for a total value of $648,850.00. Following the transaction, the director now owns 58,090 shares in the company, valued at approximately $7,538,339.30. This represents a 7.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,366 shares of company stock worth $4,015,723. 42.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ORCL. Capital & Planning LLC lifted its stake in shares of Oracle by 0.5% during the fourth quarter. Capital & Planning LLC now owns 15,727 shares of the enterprise software provider’s stock worth $2,621,000 after purchasing an additional 81 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of Oracle by 189.3% in the fourth quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock worth $25,593,000 after acquiring an additional 100,494 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Oracle in the fourth quarter worth about $51,084,000. Revolve Wealth Partners LLC lifted its stake in shares of Oracle by 8.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock worth $903,000 after acquiring an additional 404 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Oracle by 13.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 550,414 shares of the enterprise software provider’s stock worth $91,395,000 after acquiring an additional 65,980 shares in the last quarter. Institutional investors and hedge funds 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.