Abner Herrman & Brock LLC Purchases 3,171 Shares of Oracle Co. (NYSE:ORCL)

Abner Herrman & Brock LLC boosted its position in shares of Oracle Co. (NYSE:ORCL) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 188,956 shares of the enterprise software provider’s stock after purchasing an additional 3,171 shares during the period. Oracle comprises about 1.5% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 27th biggest position. Abner Herrman & Brock LLC’s holdings in Oracle were worth $10,398,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Appleton Partners Inc. MA grew its holdings in Oracle by 2.9% during the second quarter. Appleton Partners Inc. MA now owns 6,170 shares of the enterprise software provider’s stock valued at $351,000 after purchasing an additional 173 shares during the period. Northern Oak Wealth Management Inc. lifted its stake in Oracle by 14.8% in the second quarter. Northern Oak Wealth Management Inc. now owns 1,378 shares of the enterprise software provider’s stock valued at $78,000 after buying an additional 178 shares in the last quarter. Slow Capital Inc. lifted its stake in Oracle by 1.1% in the second quarter. Slow Capital Inc. now owns 17,403 shares of the enterprise software provider’s stock valued at $991,000 after buying an additional 197 shares in the last quarter. Meristem Family Wealth LLC lifted its stake in Oracle by 4.6% in the second quarter. Meristem Family Wealth LLC now owns 4,478 shares of the enterprise software provider’s stock valued at $255,000 after buying an additional 198 shares in the last quarter. Finally, Field & Main Bank lifted its stake in Oracle by 5.7% in the second quarter. Field & Main Bank now owns 3,709 shares of the enterprise software provider’s stock valued at $211,000 after buying an additional 200 shares in the last quarter. 53.74% of the stock is owned by hedge funds and other institutional investors.

In other Oracle news, CEO Mark V. Hurd sold 787,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $51.80, for a total value of $40,792,500.00. Following the transaction, the chief executive officer now directly owns 1,038,755 shares in the company, valued at $53,807,509. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Renee Jo James sold 3,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $53.56, for a total transaction of $160,680.00. Following the completion of the transaction, the director now owns 32,886 shares in the company, valued at $1,761,374.16. The disclosure for this sale can be found here. Insiders have sold 845,143 shares of company stock worth $43,950,409 over the last ninety days. Insiders own 36.60% of the company’s stock.

ORCL has been the topic of a number of research reports. Stifel Nicolaus reaffirmed a “hold” rating on shares of Oracle in a research note on Thursday, September 12th. ValuEngine lowered shares of Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Co lifted their price target on shares of Oracle from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Barclays cut their price target on shares of Oracle from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 12th. Finally, William Blair reaffirmed a “hold” rating on shares of Oracle in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $56.38.

NYSE ORCL traded up $1.32 on Friday, hitting $56.81. 7,396,063 shares of the stock were exchanged, compared to its average volume of 17,098,688. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.25 and a quick ratio of 2.25. The business’s fifty day moving average is $53.45 and its 200 day moving average is $54.62. Oracle Co. has a 52 week low of $42.40 and a 52 week high of $60.50. The company has a market capitalization of $177.42 billion, a PE ratio of 17.98, a P/E/G ratio of 1.59 and a beta of 1.16.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The firm had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. Analysts predict that Oracle Co. will post 3.47 EPS for the current fiscal year.

Oracle declared that its board has approved a stock buyback plan on Wednesday, September 11th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to purchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.69%. The ex-dividend date is Wednesday, October 9th. Oracle’s dividend payout ratio (DPR) is currently 30.38%.

About Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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