Oracle Co. (NYSE:ORCL) Director Michael J. Boskin Sells 75,000 Shares

Oracle Co. (NYSE:ORCL) Director Michael J. Boskin sold 75,000 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE ORCL opened at $60.15 on Thursday. The stock’s 50-day simple moving average is $54.83. Oracle Co. has a twelve month low of $42.40 and a twelve month high of $60.50. The stock has a market capitalization of $197.75 billion, a P/E ratio of 19.03, a PEG ratio of 1.73 and a beta of 1.15. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.49 and a quick ratio of 2.49.

Oracle (NYSE:ORCL) last released its earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.18. Oracle had a return on equity of 40.95% and a net margin of 28.06%. The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $10.93 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Oracle Co. will post 3.5 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, July 16th. This represents a $0.96 annualized dividend and a yield of 1.60%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.

Several research firms have weighed in on ORCL. UBS Group lowered their target price on Broadcom from $325.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Morgan Stanley lowered their target price on Tesla from $97.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 21st. Barclays reissued a “hold” rating and issued a $14.00 target price on shares of MACOM Technology Solutions in a report on Thursday, June 20th. BMO Capital Markets reissued a “market perform” rating and issued a C$17.00 target price on shares of Wajax in a report on Thursday, June 20th. Finally, Mitsubishi UFJ Financial Group upped their target price on Oracle from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $54.58.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investors Research Corp acquired a new stake in Oracle during the first quarter worth about $30,000. Covenant Multifamily Offices LLC acquired a new stake in Oracle during the first quarter worth about $35,000. Riverview Trust Co acquired a new stake in Oracle during the fourth quarter worth about $35,000. Truehand Inc acquired a new stake in Oracle during the fourth quarter worth about $36,000. Finally, ERTS Wealth Advisors LLC acquired a new stake in Oracle during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 54.40% of the company’s stock.

About Oracle

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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