Shares of Oracle Co. (NYSE: ORCL) rose 2.4% during midday trading on Wednesday after Argus increased its price target on the stock from $145.00 to $159.00. The stock traded as high as $145.06 and last traded at $144.64. A total of 11,629,395 shares were traded during midday trading, representing a 13% increase from the average daily volume. Other equity research analysts have also recently published reports on the company, with varying price targets and ratings. CEO Safra Catz recently sold 790,000 shares of the company’s stock in a transaction worth nearly $100 million. Several institutional investors and hedge funds have made changes to their positions in Oracle, with some increasing their stakes in the company. The stock has a market capitalization of $397.54 billion and a P/E ratio of 38.99. Oracle last released its quarterly earnings results on June 11, reporting earnings of $1.63 per share for the quarter.
Additionally, Oracle recently declared a quarterly dividend of $0.40 per share, representing a dividend yield of 1.11%. The company’s dividend payout ratio is 43.13%. Oracle Corporation offers products and services that address enterprise information technology environments worldwide, including various cloud software applications. This news alert was generated by narrative science technology and financial data from MarketBeat. Top-rated analysts have identified five stocks as better buys than Oracle. If you are interested in growth stocks, consider checking out the next upcoming superstars for your portfolio.
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https://www.marketbeat.com/instant-alerts/nyse-orcl-percent-advance-2024-06-19/