Oracle (NYSE:ORCL) Trading Down 0.2% – Here’s What Happened

Oracle Co. (NYSE:ORCL) dropped 0.2% during mid-day trading on Wednesday . The company traded as low as $165.84 and last traded at $166.64. 4,303,654 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 8,338,902 shares. The stock had previously closed at $166.91.

Wall Street Analyst Weigh In

Several research firms have recently commented on ORCL. TD Cowen boosted their price target on shares of Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. BNP Paribas raised shares of Oracle to a “strong-buy” rating in a report on Tuesday, December 10th. BMO Capital Markets upped their target price on Oracle from $173.00 to $205.00 and gave the stock a “market perform” 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. Finally, Mizuho boosted their price target on Oracle from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.48.

Oracle Stock Down 0.4 %

The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.72. The business’s 50 day moving average price is $178.93 and its 200 day moving average price is $159.86. The firm has a market cap of $464.38 billion, a PE ratio of 40.59, a PEG ratio of 3.39 and a beta of 1.03.

Oracle (NYSE:ORCL) last issued its quarterly 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). The firm had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $14.12 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 earnings per share. On average, equities research analysts expect that Oracle Co. will post 5.03 earnings per share for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, January 23rd will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, January 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.96%. Oracle’s payout ratio is 39.12%.

Hedge Funds Weigh In On Oracle

A number of institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Oracle by 5.3% during the third quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after acquiring an additional 121,874 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Oracle by 15.3% during the 2nd 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 stake in Oracle in the 3rd quarter valued at about $4,160,000. Oppenheimer Asset Management Inc. lifted its position in Oracle by 79.6% in the third 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 stake in Oracle by 84.5% during the third quarter. Lord Abbett & CO. LLC now owns 863,883 shares of the enterprise software provider’s stock worth $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.

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.