Shares of Oracle Co. (NYSE:ORCL – Get Free Report) gapped down prior to trading on Tuesday after Wolfe Research lowered their price target on the stock from $140.00 to $130.00. The stock had previously closed at $115.13, but opened at $102.70. Wolfe Research currently has an outperform rating on the stock. Oracle shares last traded at $104.18, with a volume of 13,244,230 shares trading hands.
ORCL has been the topic of a number of other reports. UBS Group dropped their target price on shares of Oracle from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday. DA Davidson lowered their price target on shares of Oracle from $115.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, September 12th. StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th. Citigroup increased their target price on shares of Oracle from $121.00 to $138.00 and gave the stock a “neutral” rating in a research report on Monday, September 11th. Finally, Piper Sandler decreased their target price on shares of Oracle from $130.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $123.12.
Insider Activity
In other news, Director George H. Conrades sold 2,325 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $113.76, for a total transaction of $264,492.00. Following the completion of the transaction, the director now directly owns 17,836 shares of the company’s stock, valued at approximately $2,029,023.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 42.80% of the company’s stock.
Hedge Funds Weigh In On Oracle
Several institutional investors and hedge funds have recently made changes to their positions in the business. Orion Capital Management LLC bought a new stake in shares of Oracle during the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of Oracle by 298.4% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 243 shares of the enterprise software provider’s stock valued at $26,000 after purchasing an additional 182 shares in the last quarter. Spartan Planning & Wealth Management bought a new stake in shares of Oracle during the 3rd quarter valued at about $27,000. Marquette Asset Management LLC lifted its position in Oracle by 445.5% during the 2nd quarter. Marquette Asset Management LLC now owns 240 shares of the enterprise software provider’s stock valued at $29,000 after acquiring an additional 196 shares during the period. Finally, Quintet Private Bank Europe S.A. purchased a new position in Oracle during the 1st quarter valued at about $30,000. Institutional investors own 42.44% of the company’s stock.
Oracle Price Performance
The firm’s fifty day simple moving average is $110.53 and its 200-day simple moving average is $113.63. The firm has a market capitalization of $282.95 billion, a PE ratio of 30.78, a PEG ratio of 2.89 and a beta of 1.05. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 29.72.
Oracle (NYSE:ORCL – Get Free Report) last announced its earnings results on Monday, December 11th. The enterprise software provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $12.94 billion during the quarter, compared to analyst estimates of $13.05 billion. Oracle had a net margin of 18.40% and a negative return on equity of 3,631.39%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 earnings per share. On average, research analysts forecast that Oracle Co. will post 4.48 earnings per share for the current fiscal year.
Oracle Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Thursday, January 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.55%. Oracle’s dividend payout ratio (DPR) is presently 47.62%.
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.