Adobe Inc. (NASDAQ:ADBE) Shares Bought by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 12.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 527 shares of the software company’s stock after buying an additional 60 shares during the quarter. Arbor Trust Wealth Advisors LLC’s holdings in Adobe were worth $202,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADBE. Siemens Fonds Invest GmbH grew its stake in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after buying an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe during the first quarter worth approximately $26,000. SWAN Capital LLC acquired a new position in shares of Adobe in the 4th quarter valued at $28,000. Copia Wealth Management purchased a new stake in Adobe in the 4th quarter valued at $28,000. Finally, Summit Securities Group LLC acquired a new stake in Adobe during the 4th quarter worth $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 1.3%

Shares of NASDAQ ADBE opened at $392.10 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50-day moving average is $394.95 and its two-hundred day moving average is $409.57. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The company has a market capitalization of $166.33 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.83 and a beta of 1.51.

Adobe (NASDAQ:ADBEGet Free Report) last posted its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. Adobe’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.48 EPS. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the topic of a number of recent research reports. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Mizuho dropped their price target on Adobe from $575.00 to $530.00 and set an “outperform” rating on the stock in a research report on Friday, June 13th. Bank of America upped their price objective on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, June 13th. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Finally, Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $496.75.

Read Our Latest Report on ADBE

Adobe Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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