Oklahoma's 1st congressional district representative, Kevin Hern, has been active in the stock market, according to a recent congressional trade report. His transactions include purchases of stocks in Accenture plc (NYSE:ACN), Marsh & McLennan Companies, Inc. (NYSE:MMC), ONEOK , Inc. (NYSE:NYSE:OKE), and Texas Instruments Incorporated (NASDAQ:TXN).
The report indicates that Hern bought Accenture shares valued between $1,001 and $15,000 on May 17, 2024. The investment was made through the Hern Family Revocable Trust's brokerage investment account, with the purchase facilitated by a dividend reinvestment.
In addition to Accenture, Hern also purchased stocks in Marsh & McLennan Companies and ONEOK, Inc. through the same Hern Family Revocable Trust's brokerage investment account. Both transactions were valued between $1,001 and $15,000 and occurred on May 15, 2024. These purchases were also facilitated by dividend reinvestments.
The Hern Family Foundation also made significant investments. On May 3, 2024, the foundation received Exxon Mobil Corporation (NYSE:NYSE:XOM) shares valued between $100,001 and $250,000 through a merger. The foundation also received ONEOK, Inc. shares valued between $1,001 and $15,000 on May 15, 2024, through a dividend reinvestment.
The Hern Family Foundation also made a purchase of Texas Instruments Incorporated stocks. The transaction, which took place on May 21, 2024, was valued between $1,001 and $15,000 and was facilitated by a dividend reinvestment.
In addition to these purchases, the report also indicates a sale. On May 16, 2024, Hern sold US Treasury Bills (GS) valued between $500,001 and $1,000,000. The sale took place through the Hern Family Revocable Trust's brokerage investment account after the T-Bill was redeemed at maturity.
InvestingPro Insights
As Congressman Kevin Hern diversifies his portfolio with strategic stock purchases, Accenture plc (NYSE:ACN) stands out among his recent acquisitions. InvestingPro data reveals interesting metrics for Accenture that could have influenced Hern's decision to invest in the company. With a robust market capitalization of $181.19 billion and a Price/Earnings (P/E) ratio of 25.83, Accenture is a significant player in the IT Services industry, which may appeal to investors looking for stable, well-established companies.
Accenture's stability is further underscored by its history of dividend reliability, as it has not only maintained but also increased its dividend payments for 20 consecutive years. This consistency is complemented by a dividend yield of 1.79% as of mid-April 2024. Moreover, the company's stock trades with low price volatility, an attractive trait for investors like Hern who may prioritize steady returns over high-risk, high-reward investments.
InvestingPro Tips suggest that Accenture's cash flows can sufficiently cover interest payments, indicating a sound financial structure. Additionally, while the company is trading at a high Price/Book multiple of 6.69, it is also trading near its 52-week low, which might signal a potential buying opportunity for value-seeking investors. For those interested in further analysis, there are an additional 11 InvestingPro Tips available at InvestingPro, which could provide deeper insights into Accenture's financial health and market position.
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