Oracle (NYSE:ORCL) Shares Down 1% – Here’s What Happened

Oracle Co. (NYSE:ORCL)’s stock price traded down 1% during mid-day trading on Thursday . The company traded as low as $145.08 and last traded at $146.36. 2,906,466 shares were traded during mid-day trading, a decline of 75% from the average session volume of 11,770,321 shares. The stock had previously closed at $147.80.

Analysts Set New Price Targets

A number of research firms have issued reports on ORCL. Cantor Fitzgerald reduced their price target on Oracle from $214.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Monness Crespi & Hardt upgraded shares of Oracle from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd. JMP Securities restated a “market outperform” rating and issued a $205.00 price objective on shares of Oracle in a report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their target price on Oracle from $140.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Guggenheim reaffirmed a “buy” rating and set a $220.00 price objective on shares of Oracle in a research report on Wednesday, March 5th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.20.

Oracle Price Performance

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. The company’s 50 day moving average price is $163.94 and its 200 day moving average price is $170.12. The company has a market cap of $393.67 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL) last released its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.02). The business had revenue of $14.13 billion for the quarter, compared to analyst estimates of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 EPS. Equities research analysts forecast that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Oracle’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a dividend yield of 1.42%. Oracle’s dividend payout ratio is currently 46.95%.

Insider Buying and Selling

In related news, CEO Safra Catz sold 2,101,154 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $185.35, for a total value of $389,448,893.90. Following the completion of the transaction, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at approximately $207,331,027.20. The trade was a 65.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 42.20% of the company’s stock.

Institutional Investors Weigh In On Oracle

A number of hedge funds and other institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in Oracle in the 4th quarter worth approximately $25,000. Sunbeam Capital Management LLC acquired a new stake in shares of Oracle during the fourth quarter worth $30,000. Winch Advisory Services LLC grew its position in shares of Oracle by 89.7% in the fourth quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock valued at $31,000 after purchasing an additional 87 shares during the period. Hurley Capital LLC purchased a new stake in shares of Oracle in the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC acquired a new position in Oracle in the fourth quarter valued at $34,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Company Profile

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.