Oracle (NYSE:ORCL) Stock Price Down 2.2% - Here's Why

Shares of Oracle Co. (NYSE:ORCL - Get Free Report) dropped 2.2% on Thursday . The company traded as low as $174.34 and last traded at $174.34. Approximately 1,656,064 shares changed hands during trading, a decline of 81% from the average daily volume of 8,521,860 shares. The stock had previously closed at $178.29.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler increased their price target on Oracle from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. upped their price target on Oracle from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. Guggenheim lifted their target price on Oracle from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, September 13th. Melius Research upgraded shares of Oracle from a "hold" rating to a "buy" rating in a research note on Monday, September 16th. Finally, Evercore ISI boosted their target price on Oracle from $160.00 to $175.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $167.42.

Oracle Stock Performance

The company's 50-day simple moving average is $150.03 and its 200 day simple moving average is $136.15. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The stock has a market cap of $483.68 billion, a P/E ratio of 47.23, a PEG ratio of 3.09 and a beta of 1.01.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. Oracle's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.91%. The ex-dividend date is Thursday, October 10th. Oracle's dividend payout ratio (DPR) is presently 43.13%.

Insider Activity at Oracle

In related news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the business's stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the completion of the transaction, the chairman now owns 1,145,732,353 shares of the company's stock, valued at approximately $164,630,281,802.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Maria Smith sold 6,320 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the firm's stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $143.69, for a total value of $161,651,250.00. Following the sale, the chairman now owns 1,145,732,353 shares in the company, valued at $164,630,281,802.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,146,320 shares of company stock worth $164,762,400. 42.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oracle

Institutional investors have recently modified their holdings of the company. Eagle Rock Investment Company LLC grew its holdings in Oracle by 0.4% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider's stock worth $3,003,000 after acquiring an additional 64 shares in the last quarter. Versant Capital Management Inc grew its stake in Oracle by 1.7% in the third quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider's stock valued at $674,000 after purchasing an additional 65 shares during the last quarter. First International Bank & Trust boosted its holdings in shares of Oracle by 1.8% in the 3rd quarter. First International Bank & Trust now owns 3,734 shares of the enterprise software provider's stock valued at $636,000 after buying an additional 67 shares in the last quarter. Adirondack Trust Co. raised its stake in shares of Oracle by 0.8% during the 3rd quarter. Adirondack Trust Co. now owns 8,636 shares of the enterprise software provider's stock worth $1,472,000 after acquiring an additional 67 shares in the last quarter. Finally, Werlinich Asset Management LLC lifted its position in Oracle by 3.1% during the second quarter. Werlinich Asset Management LLC now owns 2,325 shares of the enterprise software provider's stock valued at $326,000 after acquiring an additional 70 shares during the last quarter. 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.