Dillon & Associates Inc. Has $1.88 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Dillon & Associates Inc. boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,629 shares of the software company’s stock after buying an additional 62 shares during the quarter. Dillon & Associates Inc.’s holdings in Adobe were worth $1,880,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Onyx Bridge Wealth Group LLC grew its holdings in shares of Adobe by 3.9% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after purchasing an additional 19 shares during the last quarter. HTLF Bank increased its stake in shares of Adobe by 3.3% in the second quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after buying an additional 19 shares in the last quarter. Commonwealth Financial Services LLC increased its position in Adobe by 3.7% in the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after acquiring an additional 19 shares in the last quarter. Orrstown Financial Services Inc. increased its holdings in shares of Adobe by 0.9% in the second quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock valued at $1,257,000 after purchasing an additional 20 shares in the last quarter. Finally, Orser Capital Management LLC raised its position in Adobe by 0.3% in the 2nd quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock worth $3,815,000 after purchasing an additional 20 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

Shares of Adobe stock opened at $526.42 on Wednesday. The company has a market cap of $231.73 billion, a P/E ratio of 44.46, a PEG ratio of 2.55 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $513.50 and a two-hundred day moving average price of $517.22. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the firm posted $3.26 EPS. Adobe’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Adobe Inc. will post 14.82 EPS for the current year.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at $10,740,738.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,187 shares of company stock valued at $17,736,369. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on ADBE. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 13th. UBS Group decreased their price objective on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Argus raised shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $625.00 price target on shares of Adobe in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Company 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.