Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Adobe Inc (NASDAQ:ADBE) by 23.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,303 shares of the software company’s stock after buying an additional 245 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Adobe were worth $294,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Ruggie Capital Group bought a new stake in Adobe in the fourth quarter valued at approximately $33,000. Intercontinental Wealth Advisors LLC bought a new stake in Adobe in the fourth quarter valued at approximately $41,000. Contravisory Investment Management Inc. increased its stake in Adobe by 159.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 205 shares of the software company’s stock valued at $46,000 after purchasing an additional 126 shares in the last quarter. Athena Capital Advisors LLC bought a new stake in Adobe in the fourth quarter valued at approximately $76,000. Finally, Global Trust Asset Management LLC increased its stake in Adobe by 105.5% in the fourth quarter. Global Trust Asset Management LLC now owns 409 shares of the software company’s stock valued at $93,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.
Several brokerages have commented on ADBE. Robert W. Baird reaffirmed an “outperform” rating and issued a $300.00 target price (up previously from $290.00) on shares of Adobe in a research note on Friday. DZ Bank reaffirmed a “hold” rating on shares of Adobe in a research note on Friday, February 22nd. BidaskClub downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Cowen downgraded shares of Adobe from an “outperform” rating to a “market perform” rating and set a $280.00 target price for the company. in a research note on Friday, February 15th. Finally, Zacks Investment Research downgraded shares of Adobe from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have assigned a buy rating to the stock. Adobe has an average rating of “Buy” and a consensus target price of $284.81.
Shares of ADBE opened at $267.69 on Friday. The firm has a market cap of $129.31 billion, a P/E ratio of 48.23, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10. Adobe Inc has a 12 month low of $204.95 and a 12 month high of $277.61. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.44.
Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, March 14th. The software company reported $1.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.25). The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.55 billion. Adobe had a net margin of 28.69% and a return on equity of 31.19%. Adobe’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, equities research analysts predict that Adobe Inc will post 6.21 EPS for the current year.
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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