Oracle (NYSE:ORCL) Given a $66.00 Price Target at Sanford C. Bernstein

Sanford C. Bernstein set a $66.00 price target on Oracle (NYSE:ORCL) in a report released on Thursday, AnalystRatings.com reports. The firm currently has a buy rating on the enterprise software provider’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Co upped their price objective on shares of Oracle from $60.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, June 20th. ValuEngine cut shares of Oracle from a buy rating to a hold rating in a report on Thursday, August 1st. Raymond James upped their target price on shares of Oracle from $57.00 to $61.00 and gave the company an outperform rating in a report on Thursday, June 20th. KeyCorp reaffirmed a hold rating on shares of Oracle in a report on Thursday, June 20th. Finally, Cowen assumed coverage on shares of Oracle in a report on Friday, August 16th. They issued a buy rating and a $65.00 target price for the company. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $55.88.

NYSE ORCL traded down $0.13 during trading hours on Thursday, hitting $53.76. The company had a trading volume of 848,909 shares, compared to its average volume of 9,948,703. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.49 and a current ratio of 2.49. Oracle has a 1-year low of $42.40 and a 1-year high of $60.50. The company has a market cap of $185.04 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.18. The business has a 50 day moving average of $54.15 and a 200-day moving average of $54.46.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09. Oracle had a net margin of 28.06% and a return on equity of 40.95%. The company had revenue of $9.22 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Oracle’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts expect that Oracle will post 3.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.96 annualized dividend and a yield of 1.79%. Oracle’s dividend payout ratio is currently 30.38%.

In other Oracle news, CEO Mark V. Hurd sold 787,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $51.80, for a total value of $40,792,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,038,755 shares of the company’s stock, valued at $53,807,509. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael J. Boskin sold 75,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $56.29, for a total transaction of $4,221,750.00. Following the completion of the transaction, the director now directly owns 134,796 shares of the company’s stock, valued at $7,587,666.84. The disclosure for this sale can be found here. Insiders have sold 2,140,000 shares of company stock valued at $117,501,425 over the last three months. 32.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Appleton Partners Inc. MA boosted its position in Oracle by 2.9% during the second quarter. Appleton Partners Inc. MA now owns 6,170 shares of the enterprise software provider’s stock worth $351,000 after acquiring an additional 173 shares during the last quarter. Northern Oak Wealth Management Inc. boosted its holdings in shares of Oracle by 14.8% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 1,378 shares of the enterprise software provider’s stock valued at $78,000 after purchasing an additional 178 shares during the last quarter. Wedgewood Investors Inc. PA boosted its holdings in shares of Oracle by 4.1% in the 1st quarter. Wedgewood Investors Inc. PA now owns 4,650 shares of the enterprise software provider’s stock valued at $250,000 after purchasing an additional 185 shares during the last quarter. Slow Capital Inc. boosted its holdings in shares of Oracle by 1.1% in the 2nd quarter. Slow Capital Inc. now owns 17,403 shares of the enterprise software provider’s stock valued at $991,000 after purchasing an additional 197 shares during the last quarter. Finally, Meristem Family Wealth LLC boosted its holdings in shares of Oracle by 4.6% in the 2nd quarter. Meristem Family Wealth LLC now owns 4,478 shares of the enterprise software provider’s stock valued at $255,000 after purchasing an additional 198 shares during the last quarter. 53.05% of the stock is owned by institutional investors.

Oracle Company Profile

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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