Oracle (NYSE:ORCL) Stock Price Down 4.6% on Analyst Downgrade

Oracle Corporation (NYSE:ORCL) shares were down 4.6% during trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $320.00 to $220.00. The Goldman Sachs Group currently has a neutral rating on the stock. Oracle traded as low as $185.98 and last traded at $189.64. Approximately 54,759,534 shares traded hands during mid-day trading, an increase of 225% from the average daily volume of 16,835,406 shares. The stock had previously closed at $198.85.

ORCL has been the subject of a number of other reports. TD Cowen lowered their target price on shares of Oracle from $400.00 to $350.00 and set a “buy” rating for the company in a report on Thursday. Citigroup decreased their price target on shares of Oracle from $375.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald dropped their price objective on Oracle from $400.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Oracle in a research report on Friday, October 17th. Finally, Guggenheim reissued a “buy” rating and set a $400.00 price target on shares of Oracle in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $301.57.

Insider Buying and Selling at Oracle

In related news, EVP Maria Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $280.62, for a total transaction of $1,403,100.00. Following the transaction, the executive vice president directly owned 47,083 shares of the company’s stock, valued at approximately $13,212,431.46. The trade was a 9.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stuart Levey sold 19,758 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $300.00, for a total transaction of $5,927,400.00. Following the completion of the sale, the executive vice president directly owned 18,429 shares of the company’s stock, valued at $5,528,700. This trade represents a 51.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 171,513 shares of company stock worth $50,397,893. Insiders own 40.90% of the company’s stock.

Institutional Investors Weigh In On Oracle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Painted Porch Advisors LLC purchased a new position in Oracle in the 3rd quarter valued at about $246,000. Tull Financial Group Inc. increased its position in shares of Oracle by 5.8% during the third quarter. Tull Financial Group Inc. now owns 1,000 shares of the enterprise software provider’s stock worth $281,000 after acquiring an additional 55 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in shares of Oracle by 1,753.0% in the third quarter. Strategic Investment Solutions Inc. IL now owns 1,223 shares of the enterprise software provider’s stock worth $344,000 after acquiring an additional 1,157 shares in the last quarter. Allworth Financial LP boosted its holdings in Oracle by 1.1% in the third quarter. Allworth Financial LP now owns 320,789 shares of the enterprise software provider’s stock valued at $90,219,000 after purchasing an additional 3,465 shares during the last quarter. Finally, Swiss Life Asset Management Ltd grew its stake in Oracle by 3.3% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 510,345 shares of the enterprise software provider’s stock valued at $143,529,000 after purchasing an additional 16,167 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Stock Down 4.6%

The company has a market capitalization of $540.62 billion, a PE ratio of 35.65, a P/E/G ratio of 2.14 and a beta of 1.66. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.62 and a current ratio of 0.91. The firm has a fifty day simple moving average of $245.58 and a 200-day simple moving average of $241.39.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, December 10th. The enterprise software provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.62. Oracle had a return on equity of 70.60% and a net margin of 25.28%.The firm had revenue of $16.06 billion for the quarter, compared to analysts’ expectations of $16.19 billion. During the same quarter in the prior year, the firm posted $1.47 earnings per share. Oracle’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts anticipate that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, January 9th. This represents a $2.00 annualized dividend and a yield of 1.1%. Oracle’s dividend payout ratio (DPR) is 37.59%.

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.