Bradley Foster & Sargent Inc. CT Has $103.38 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Bradley Foster & Sargent Inc. CT decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 2.2% in the second quarter, HoldingsChannel reports. The firm owned 186,083 shares of the software company’s stock after selling 4,214 shares during the period. Adobe accounts for 1.9% of Bradley Foster & Sargent Inc. CT’s holdings, making the stock its 11th biggest position. Bradley Foster & Sargent Inc. CT’s holdings in Adobe were worth $103,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ADBE. Steph & Co. boosted its position in Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after acquiring an additional 30 shares during the period. International Assets Investment Management LLC boosted its position in Adobe by 16.2% during the 1st quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock worth $1,435,000 after acquiring an additional 398 shares during the period. Choreo LLC boosted its position in Adobe by 4.7% during the 1st quarter. Choreo LLC now owns 4,431 shares of the software company’s stock worth $2,236,000 after acquiring an additional 197 shares during the period. Eagle Asset Management Inc. boosted its position in Adobe by 14.7% during the 4th quarter. Eagle Asset Management Inc. now owns 24,400 shares of the software company’s stock worth $14,557,000 after acquiring an additional 3,120 shares during the period. Finally, Quest Partners LLC boosted its position in Adobe by 23.3% during the 2nd quarter. Quest Partners LLC now owns 588 shares of the software company’s stock worth $327,000 after acquiring an additional 111 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price objective on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Robert W. Baird lifted their price target on Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a report on Friday, June 14th. BMO Capital Markets lifted their price target on Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a report on Friday, June 14th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Finally, KeyCorp lifted their price target on Adobe from $445.00 to $450.00 and gave the company an “underweight” rating in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $606.58.

Insider Activity at Adobe

In other Adobe news, CAO Mark S. Garfield sold 151 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,579,186.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Mark S. Garfield sold 97 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the sale, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 151 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,579,186.20. The disclosure for this sale can be found here. Insiders have sold a total of 27,259 shares of company stock valued at $14,855,543 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

Adobe Price Performance

Shares of ADBE stock opened at $515.03 on Wednesday. The stock’s fifty day simple moving average is $551.66 and its 200 day simple moving average is $519.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $228.36 billion, a price-to-earnings ratio of 46.27, a P/E/G ratio of 3.03 and a beta of 1.29. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 40.67% and a net margin of 24.86%. Adobe’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.26 EPS. On average, analysts expect that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.