Oracle (NYSE:ORCL) Trading Down 0.7% – Here’s What Happened

Oracle Co. (NYSE:ORCL)’s stock price traded down 0.7% during mid-day trading on Monday . The stock traded as low as $172.19 and last traded at $172.23. 1,503,635 shares traded hands during trading, a decline of 82% from the average session volume of 8,372,392 shares. The stock had previously closed at $173.39.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. BMO Capital Markets raised their price target on shares of Oracle from $173.00 to $205.00 and gave the stock a “market perform” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their target price on shares of Oracle from $145.00 to $175.00 and gave the company an “equal weight” rating in a report on Tuesday, December 10th. StockNews.com downgraded Oracle from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Melius upgraded Oracle from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Monday, September 16th. Finally, Piper Sandler lifted their target price on Oracle from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Twelve equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.63.

Oracle Stock Down 2.5 %

The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.72 and a current ratio of 0.81. The firm has a market capitalization of $462.64 billion, a P/E ratio of 40.44, a PEG ratio of 3.39 and a beta of 1.03. The stock has a 50 day moving average of $180.34 and a 200-day moving average of $156.91.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.01). The company had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $14.12 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. Oracle’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 earnings per share. Research analysts predict that Oracle Co. will post 5.03 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, January 23rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, January 9th. Oracle’s dividend payout ratio (DPR) is currently 39.12%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ORCL. Principal Financial Group Inc. increased its stake 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 period. Itau Unibanco Holding S.A. grew its holdings in shares of Oracle by 15.3% in the second quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock worth $3,502,000 after purchasing an additional 3,300 shares during the last quarter. Chase Investment Counsel Corp purchased a new position in shares of Oracle in the third quarter worth $4,160,000. Oppenheimer Asset Management Inc. raised its holdings in Oracle by 79.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock valued at $48,813,000 after buying an additional 126,985 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in Oracle by 84.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 863,883 shares of the enterprise software provider’s stock valued at $147,206,000 after buying an additional 395,613 shares during the period. 42.44% of the stock is owned by hedge funds and other 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.