Abner Herrman & Brock LLC Has $26.04 Million Holdings in Oracle Corporation $ORCL

Key Points

• Abner Herrman & Brock LLC reduced its stake in Oracle Corporation by 25.7% during the second quarter, holding approximately $26.04 million in the company's stock.
• A number of institutional investors, including Vanguard Group Inc. and Northern Trust Corp, have recently increased their positions in Oracle, indicating positive market interest.
• Oracle's stock received upgraded ratings from analysts, with Bank of America raising the price target from $295 to $368 and maintaining a "buy" rating.

Abner Herrman & Brock LLC lessened its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 25.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,118 shares of the enterprise software provider's stock after selling 41,142 shares during the quarter. Oracle comprises about 2.9% of Abner Herrman & Brock LLC's investment portfolio, making the stock its 8th biggest holding. Abner Herrman & Brock LLC's holdings in Oracle were worth $26,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Oracle by 2.2% during the first quarter. Vanguard Group Inc. now owns 160,925,413 shares of the enterprise software provider's stock valued at $22,498,982,000 after buying an additional 3,513,464 shares during the period. Northern Trust Corp boosted its position in shares of Oracle by 0.6% in the first quarter. Northern Trust Corp now owns 19,741,423 shares of the enterprise software provider's stock worth $2,760,048,000 after purchasing an additional 120,889 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Oracle by 0.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 13,884,524 shares of the enterprise software provider's stock worth $1,941,195,000 after purchasing an additional 59,164 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Oracle by 20.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider's stock worth $2,303,858,000 after purchasing an additional 2,350,448 shares during the period. Finally, Amundi boosted its position in shares of Oracle by 3.3% in the first quarter. Amundi now owns 12,736,855 shares of the enterprise software provider's stock worth $1,749,280,000 after purchasing an additional 409,691 shares during the period. Hedge funds and other institutional investors own 42.44% of the company's stock.

Insider Buying and Selling at Oracle

In other news, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the transaction, the insider owned 99,212 shares in the company, valued at $25,247,469.76. The trade was a 13.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Maria Smith sold 10,000 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the completion of the sale, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,183 shares of company stock worth $10,353,198. 42.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Oppenheimer reiterated an "outperform" rating on shares of Oracle in a research report on Wednesday, June 18th. Bank of America raised shares of Oracle from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $295.00 to $368.00 in a report on Wednesday. Mizuho boosted their target price on shares of Oracle from $300.00 to $350.00 and gave the stock an "outperform" rating in a report on Wednesday. Royal Bank Of Canada boosted their target price on shares of Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a report on Thursday, June 12th. Finally, Piper Sandler boosted their target price on shares of Oracle from $270.00 to $330.00 and gave the stock an "overweight" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Oracle currently has a consensus rating of "Moderate Buy" and an average price target of $296.84.

Oracle Trading Down 5.1%

NYSE ORCL opened at $292.07 on Friday. The company's 50-day moving average price is $244.69 and its 200-day moving average price is $190.50. The company has a current ratio of 0.62, a quick ratio of 0.75 and a debt-to-equity ratio of 3.33. The stock has a market cap of $820.38 billion, a PE ratio of 67.61, a PEG ratio of 4.10 and a beta of 1.46. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $345.72.

Oracle (NYSE:ORCL - Get Free Report) last issued its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The firm's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 EPS. Equities research analysts forecast that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 0.7%. Oracle's dividend payout ratio (DPR) is currently 46.30%.

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.

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