Oracle (NYSE:ORCL) Shares Down 2.3% – Here’s What Happened

Oracle Co. (NYSE:ORCL)’s share price traded down 2.3% during mid-day trading on Tuesday . The stock traded as low as $164.44 and last traded at $166.06. 2,685,029 shares traded hands during trading, a decline of 77% from the average session volume of 11,807,042 shares. The stock had previously closed at $169.96.

Wall Street Analysts Forecast Growth

ORCL has been the topic of a number of research reports. Citigroup increased their price objective on Oracle from $157.00 to $194.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler lifted their price objective on shares of Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. BNP Paribas upgraded Oracle to a “strong-buy” rating in a report on Tuesday, December 10th. UBS Group upped their price target on Oracle from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Mizuho raised their price objective on Oracle from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $182.73.

Oracle Price Performance

The stock has a market cap of $470.99 billion, a price-to-earnings ratio of 41.16, a price-to-earnings-growth ratio of 3.46 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The company’s 50-day moving average is $168.97 and its 200-day moving average is $167.87.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.01). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $14.12 billion. During the same quarter last year, the business earned $1.34 EPS. Oracle’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, January 23rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Friday, January 10th. Oracle’s dividend payout ratio (DPR) is currently 39.12%.

Insider Activity at Oracle

In other news, CEO Safra Catz sold 2,101,154 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total value of $389,448,893.90. Following the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at $207,331,027.20. The trade was a 65.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 42.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oracle

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in Oracle by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after purchasing an additional 121,874 shares during the last quarter. McClarren Financial Advisors Inc. lifted its position in Oracle by 201.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,599 shares of the enterprise software provider’s stock valued at $266,000 after purchasing an additional 1,069 shares during the period. RMR Wealth Builders boosted its stake in shares of Oracle by 383.4% in the 4th quarter. RMR Wealth Builders now owns 7,155 shares of the enterprise software provider’s stock valued at $1,192,000 after purchasing an additional 5,675 shares during the last quarter. Foundations Investment Advisors LLC grew its position in shares of Oracle by 24.8% during the 4th quarter. Foundations Investment Advisors LLC now owns 164,593 shares of the enterprise software provider’s stock worth $27,428,000 after buying an additional 32,718 shares during the period. Finally, Crews Bank & Trust bought a new stake in shares of Oracle during the fourth quarter worth approximately $1,800,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

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.