Oracle (NYSE:ORCL) Stock Price Down 1.6% - Here's What Happened

Oracle Corporation (NYSE:ORCL - Get Free Report)'s share price was down 1.6% during mid-day trading on Monday . The company traded as low as $229.50 and last traded at $233.54. Approximately 5,648,206 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 10,144,050 shares. The stock had previously closed at $237.32.

Analysts Set New Price Targets

A number of research analysts have issued reports on ORCL shares. Cantor Fitzgerald dropped their target price on shares of Oracle from $214.00 to $175.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Westpark Capital increased their target price on shares of Oracle from $195.00 to $246.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Roth Capital reissued a "hold" rating on shares of Oracle in a research note on Wednesday, June 18th. Mizuho dropped their price objective on shares of Oracle from $210.00 to $180.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group raised their price objective on shares of Oracle from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Ten research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Oracle presently has an average rating of "Moderate Buy" and an average price target of $204.15.

Oracle Stock Performance

The company has a market cap of $652.49 billion, a price-to-earnings ratio of 53.53, a price-to-earnings-growth ratio of 3.55 and a beta of 1.39. The stock's fifty day simple moving average is $178.14 and its two-hundred day simple moving average is $164.22. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75.

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

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.86%. Oracle's dividend payout ratio (DPR) is presently 46.08%.

Insider Activity at Oracle

In related news, Director Naomi O. Seligman sold 2,866 shares of Oracle stock in a transaction on Monday, May 5th. The shares were sold at an average price of $149.53, for a total transaction of $428,552.98. Following the transaction, the director owned 31,764 shares in the company, valued at approximately $4,749,670.92. The trade was a 8.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction 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 owned 60,722 shares in the company, valued at $13,000,580.20. The trade was a 19.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 440,366 shares of company stock worth $83,103,603 in the last 90 days. Company insiders own 42.20% of the company's stock.

Hedge Funds Weigh In On Oracle

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Oracle by 71.6% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock worth $35,984,000 after buying an additional 107,404 shares in the last quarter. Rockland Trust Co. lifted its holdings in Oracle by 4.8% in the 1st quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock worth $1,421,000 after buying an additional 467 shares in the last quarter. Calamos Advisors LLC lifted its holdings in Oracle by 1.5% in the 1st quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock worth $99,445,000 after buying an additional 10,426 shares in the last quarter. Cornerstone Advisory LLC lifted its holdings in Oracle by 34.1% in the 4th quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider's stock worth $2,258,000 after buying an additional 3,299 shares in the last quarter. Finally, Peak Retirement Planning Inc. acquired a new position in Oracle in the 4th quarter worth $211,000. Institutional investors and hedge funds own 42.44% of the company's stock.

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.