Oracle Corp (NYSE:ORCL). shares demonstrated resilience on Thursday, rallying 1.19% for the second consecutive day and closing at $108.35, despite falls witnessed in the S&P 500 Index and Dow Jones Industrial Average. This closing price brings Oracle near its one-year high from June.
This surge occurred amidst a grim trading day that saw a general downturn in the market. Notably, Oracle's performance stood in stark contrast to its competitors Microsoft Corp (NASDAQ:MSFT). and Alphabet (NASDAQ:GOOGL) Inc. Microsoft managed only a slight growth of 0.13%, while Alphabet experienced drops in both its Class C and Class A shares by 0.21% and 0.13% respectively.
Trading volume for Oracle was recorded at 7.6 million, lower than its usual average of 10.6 million. Despite this lower trading volume, Oracle's shares managed to defy the downward trend, reflecting investor confidence in the company amidst broader market volatility.
According to InvestingPro data, Oracle's market capitalization stands at an impressive $292.32 billion. This figure positions the company as a prominent player in the software industry, a fact that has been highlighted in one of the InvestingPro Tips. The company is also trading at a P/E ratio of 31.27 and has seen a revenue growth of 15.41% as of LTM2024.Q1.
InvestingPro Tips also point out that Oracle has raised its dividend for 10 consecutive years and has maintained dividend payments for 15 consecutive years. This fact, coupled with a dividend growth of 25.0% as per InvestingPro data, underlines the company's commitment to returning capital to shareholders.
It's worth mentioning that Oracle's performance has been strong over the past years. As per InvestingPro Tips, the company has shown a high return over the last year, decade, and five years. This is further supported by InvestingPro's data showing a 1 Year Price Total Return of 68.7%.
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