Citigroup Reiterates $81.00 Price Target for Oracle (NYSE:ORCL)

Citigroup set a $81.00 price target on Oracle (NYSE:ORCLGet Rating) in a report released on Monday, Stock Target Advisor reports.

A number of other brokerages have also recently commented on ORCL. JPMorgan Chase & Co. set a $82.00 target price on shares of Oracle in a report on Thursday, June 16th. Wolfe Research reduced their target price on shares of Oracle from $105.00 to $83.00 in a report on Friday, March 11th. Societe Generale raised shares of Oracle from a hold rating to a buy rating in a report on Friday, March 11th. Bank of America reduced their target price on shares of Oracle from $105.00 to $90.00 and set a neutral rating for the company in a report on Friday, March 11th. Finally, Morgan Stanley upped their target price on shares of Oracle from $87.00 to $88.00 and gave the company an equal weight rating in a report on Monday, June 6th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $90.13.

NYSE ORCL opened at $67.63 on Monday. Oracle has a 1 year low of $63.76 and a 1 year high of $106.34. The company has a market capitalization of $180.45 billion, a PE ratio of 28.18, a P/E/G ratio of 1.91 and a beta of 0.87. The company has a fifty day moving average of $71.96 and a two-hundred day moving average of $79.47.

Oracle (NYSE:ORCLGet Rating) last released its quarterly earnings data on Monday, June 13th. The enterprise software provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.17. Oracle had a net margin of 15.83% and a negative return on equity of 193.58%. The company had revenue of $11.84 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. Oracle’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Oracle will post 4.43 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 26th. Stockholders of record on Tuesday, July 12th will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, July 11th. This represents a $1.28 annualized dividend and a dividend yield of 1.89%. Oracle’s dividend payout ratio is presently 53.33%.

In other news, CEO Safra Catz sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $66.87, for a total value of $66,870,000.00. Following the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at $74,800,247.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Renee Jo James sold 6,000 shares of the stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $84.11, for a total transaction of $504,660.00. Following the completion of the sale, the director now owns 41,886 shares in the company, valued at $3,523,031.46. The disclosure for this sale can be found here. Insiders sold 2,006,000 shares of company stock worth $135,454,660 over the last quarter. Company insiders own 39.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ORCL. Norges Bank acquired a new stake in Oracle during the fourth quarter worth approximately $947,274,000. Aaron Wealth Advisors LLC boosted its position in Oracle by 26,472.9% during the first quarter. Aaron Wealth Advisors LLC now owns 2,381,465 shares of the enterprise software provider’s stock worth $28,786,000 after acquiring an additional 2,372,503 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Oracle by 93.7% during the first quarter. The Manufacturers Life Insurance Company now owns 4,068,310 shares of the enterprise software provider’s stock worth $336,571,000 after purchasing an additional 1,967,853 shares during the period. Nordea Investment Management AB raised its stake in Oracle by 44.3% during the first quarter. Nordea Investment Management AB now owns 6,366,409 shares of the enterprise software provider’s stock worth $531,468,000 after purchasing an additional 1,953,713 shares during the period. Finally, BlackRock Inc. raised its stake in Oracle by 1.6% during the fourth quarter. BlackRock Inc. now owns 119,247,252 shares of the enterprise software provider’s stock worth $10,399,550,000 after purchasing an additional 1,886,260 shares during the period. Hedge funds and other institutional investors own 42.33% of the company’s stock.

About Oracle (Get Rating)

Oracle Corporation provides 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 Fusion cloud advertising and customer experience, and NetSuite applications suite.

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