Oracle (NYSE:ORCL) Trading Down 2.2% on Analyst Downgrade

Oracle Co. (NYSE:ORCL)’s share price dropped 2.2% during trading on Thursday after Citigroup lowered their price target on the stock from $194.00 to $160.00. Citigroup currently has a neutral rating on the stock. Oracle traded as low as $145.76 and last traded at $147.64. Approximately 3,996,395 shares changed hands during trading, a decline of 67% from the average daily volume of 12,064,620 shares. The stock had previously closed at $150.89.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Oracle from $140.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday. KeyCorp restated an “overweight” rating and set a $200.00 target price on shares of Oracle in a research report on Tuesday. Bank of America cut their price target on Oracle from $195.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday. Guggenheim reissued a “buy” rating and issued a $220.00 price objective on shares of Oracle in a report on Wednesday, March 5th. Finally, Piper Sandler dropped their target price on Oracle from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday. Twelve investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.71.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Activest Wealth Management lifted its position in Oracle by 21.9% during the third quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock worth $53,000 after buying an additional 56 shares in the last quarter. Second Line Capital LLC increased its stake in shares of Oracle by 1.5% in the 3rd quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock worth $650,000 after acquiring an additional 58 shares during the last quarter. Cadence Bank boosted its position in shares of Oracle by 0.8% during the 3rd quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock valued at $1,296,000 after acquiring an additional 59 shares during the last quarter. Requisite Capital Management LLC grew its holdings in shares of Oracle by 2.8% in the fourth quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider’s stock valued at $373,000 after purchasing an additional 60 shares during the period. Finally, Cookson Peirce & Co. Inc. increased its position in Oracle by 4.4% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider’s stock worth $237,000 after purchasing an additional 60 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Trading Down 2.3 %

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 stock has a market capitalization of $412.30 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 3.46 and a beta of 1.07. The company’s 50-day moving average is $166.14 and its 200-day moving average is $169.34.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm had revenue of $14.13 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the prior year, the business earned $1.41 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Research analysts anticipate that Oracle Co. will post 5 earnings per share for the current fiscal 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. 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. Oracle’s dividend payout ratio is 39.12%.

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.