Royal Bank of Canada downgraded shares of Oracle (NYSE:ORCL) from an outperform rating to a sector perform rating in a report issued on Friday morning.

A number of other brokerages have also recently commented on ORCL. Vetr cut shares of Oracle from a sell rating to a strong sell rating and set a $46.58 price objective on the stock. in a research note on Tuesday, September 12th. Rosenblatt Securities reissued a buy rating and issued a $58.00 price objective on shares of Oracle in a research note on Monday, September 11th. Canaccord Genuity initiated coverage on shares of Oracle in a research note on Friday, October 6th. They issued a buy rating and a $57.00 price objective on the stock. BTIG Research reissued a buy rating and issued a $58.00 price objective on shares of Oracle in a research note on Tuesday, September 19th. Finally, J P Morgan Chase & Co set a $55.00 price objective on shares of Oracle and gave the company a buy rating in a research note on Tuesday. Fourteen analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. Oracle currently has an average rating of Buy and an average target price of $55.02.

Shares of Oracle (NYSE:ORCL) traded down $1.89 on Friday, hitting $48.30. 75,172,521 shares of the stock were exchanged, compared to its average volume of 14,205,022. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.63 and a quick ratio of 3.61. The stock has a market cap of $209,467.25, a P/E ratio of 19.16, a PEG ratio of 1.91 and a beta of 1.05. Oracle has a 1-year low of $38.30 and a 1-year high of $53.14.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.72%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. equities analysts forecast that Oracle will post 2.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.57%. Oracle’s dividend payout ratio is currently 32.62%.

Oracle announced that its board has initiated a share repurchase plan on Thursday, December 14th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other news, Director Jeffrey Berg sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $48.03, for a total transaction of $2,161,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dorian Daley sold 76,703 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $49.00, for a total transaction of $3,758,447.00. The disclosure for this sale can be found here. Insiders have sold 302,026 shares of company stock worth $14,633,187 in the last quarter. Insiders own 29.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. boosted its holdings in shares of Oracle by 6,353.4% during the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after acquiring an additional 18,351,920 shares during the period. BT Investment Management Ltd acquired a new position in shares of Oracle during the second quarter valued at $459,738,000. Harris Associates L P boosted its holdings in shares of Oracle by 17.9% during the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after acquiring an additional 7,427,501 shares during the period. FMR LLC boosted its holdings in shares of Oracle by 24.8% during the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after acquiring an additional 6,577,297 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Oracle by 2.6% during the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after acquiring an additional 5,270,359 shares during the period. 57.70% of the stock is owned by hedge funds and other institutional investors.

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About Oracle

Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.

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