R.H. Dinel Investment Counsel Inc. Sells 100 Shares of Adobe Inc. (NASDAQ:ADBE)

R.H. Dinel Investment Counsel Inc. reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,930 shares of the software company’s stock after selling 100 shares during the quarter. Adobe accounts for approximately 7.4% of R.H. Dinel Investment Counsel Inc.’s holdings, making the stock its 2nd biggest position. R.H. Dinel Investment Counsel Inc.’s holdings in Adobe were worth $11,086,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ADBE. State Street Corp boosted its holdings in Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after purchasing an additional 234,909 shares in the last quarter. Geode Capital Management LLC boosted its stake in Adobe by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock valued at $5,435,377,000 after buying an additional 147,981 shares in the last quarter. FMR LLC raised its stake in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Adobe by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after purchasing an additional 93,143 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Adobe by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after purchasing an additional 140,390 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Trading Down 0.2 %

ADBE opened at $435.35 on Wednesday. The firm has a market cap of $189.51 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.08 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $473.26 and a 200 day moving average of $510.05. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.52 EPS. As a group, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity

In other news, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the firm’s 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 sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,763 shares of company stock valued at $893,665 in the last quarter. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Jefferies Financial Group lowered their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BMO Capital Markets reduced their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Oppenheimer cut their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $573.00.

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.