Oracle (NYSE:ORCL) Shares Down 1.1% - Here's Why

Oracle Corporation (NYSE:ORCL - Get Free Report)'s stock price dropped 1.1% on Friday . The company traded as low as $245.75 and last traded at $245.97. Approximately 3,378,343 shares were traded during trading, a decline of 72% from the average daily volume of 12,271,386 shares. The stock had previously closed at $248.75.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ORCL shares. Royal Bank Of Canada increased their target price on shares of Oracle from $145.00 to $195.00 and gave the company a "sector perform" rating in a research report on Thursday, June 12th. DA Davidson increased their target price on shares of Oracle from $140.00 to $170.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. BMO Capital Markets increased their target price on shares of Oracle from $235.00 to $245.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Scotiabank started coverage on shares of Oracle in a research report on Thursday. They issued a "sector outperform" rating and a $300.00 target price for the company. Finally, Guggenheim increased their target price on shares of Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $218.29.

Oracle Price Performance

The firm has a market cap of $689.01 billion, a price-to-earnings ratio of 56.52, a PEG ratio of 3.67 and a beta of 1.39. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The company's 50-day moving average price is $196.21 and its 200-day moving average price is $168.95.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. On average, equities research analysts forecast that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.82%. Oracle's dividend payout ratio (DPR) is 46.08%.

Insider Transactions at Oracle

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares in the company, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Maria Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the transaction, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 448,669 shares of company stock valued at $85,555,309 over the last quarter. Insiders own 42.20% of the company's stock.

Hedge Funds Weigh In On Oracle

A number of hedge funds have recently modified their holdings of the business. Reyes Financial Architecture Inc. grew its holdings in Oracle by 7.2% in the 2nd quarter. Reyes Financial Architecture Inc. now owns 643 shares of the enterprise software provider's stock valued at $141,000 after buying an additional 43 shares during the last quarter. Davis Investment Partners LLC grew its holdings in shares of Oracle by 0.7% during the 2nd quarter. Davis Investment Partners LLC now owns 6,930 shares of the enterprise software provider's stock worth $1,517,000 after purchasing an additional 46 shares in the last quarter. Acropolis Investment Management LLC boosted its stake in Oracle by 2.6% in the 2nd quarter. Acropolis Investment Management LLC now owns 1,850 shares of the enterprise software provider's stock valued at $404,000 after buying an additional 47 shares in the last quarter. Sunpointe LLC boosted its stake in Oracle by 0.9% in the 2nd quarter. Sunpointe LLC now owns 5,563 shares of the enterprise software provider's stock valued at $1,216,000 after buying an additional 48 shares in the last quarter. Finally, American Financial Advisors LLC raised its position in Oracle by 2.3% in the 2nd quarter. American Financial Advisors LLC now owns 2,234 shares of the enterprise software provider's stock valued at $488,000 after purchasing an additional 50 shares during the last quarter. 42.44% of the stock is currently 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.