Oracle (NYSE:ORCL) Shares Down 0.4% – Here’s Why

Shares of Oracle Co. (NYSE:ORCL) dropped 0.4% during trading on Thursday . The stock traded as low as $187.25 and last traded at $188.89. Approximately 1,670,814 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 8,224,021 shares. The stock had previously closed at $189.63.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ORCL. Melius Research raised Oracle from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. TD Cowen boosted their target price on shares of Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. BMO Capital Markets upped their price target on Oracle from $160.00 to $173.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. Piper Sandler boosted their target price on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Oracle in a research report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.52.

Oracle Stock Down 1.2 %

The company has a market cap of $519.30 billion, a price-to-earnings ratio of 48.68, a price-to-earnings-growth ratio of 3.49 and a beta of 1.02. The stock has a 50-day simple moving average of $170.41 and a 200-day simple moving average of $145.85. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. During the same period in the prior year, the business posted $0.95 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts predict that Oracle Co. will post 5 EPS for the current year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.85%. Oracle’s dividend payout ratio (DPR) is 41.24%.

Insiders Place Their Bets

In related news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 42.20% of the company’s stock.

Hedge Funds Weigh In On Oracle

Several institutional investors have recently bought and sold shares of ORCL. Fairway Wealth LLC bought a new position in shares of Oracle during the 2nd quarter worth about $27,000. POM Investment Strategies LLC bought a new stake in Oracle during the 2nd quarter worth about $30,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Oracle in the second quarter valued at approximately $35,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Oracle during the first quarter worth $38,000. Finally, Quest Partners LLC acquired a new position in Oracle during the 2nd quarter valued at about $40,000. 42.44% of the stock is currently owned by institutional investors.

About Oracle

Oracle Corporation offers 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 Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.