1834 Investment Advisors Co. Grows Stock Position in Adobe Inc. (NASDAQ:ADBE)

1834 Investment Advisors Co. boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 10.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,157 shares of the software company’s stock after acquiring an additional 210 shares during the period. 1834 Investment Advisors Co.’s holdings in Adobe were worth $827,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp grew its holdings in Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock worth $2,504,685,000 after acquiring an additional 821,293 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Adobe by 12.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company’s stock valued at $2,375,345,000 after purchasing an additional 600,146 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Adobe by 14.5% in the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company’s stock valued at $2,363,125,000 after purchasing an additional 672,919 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 2.0%

NASDAQ ADBE opened at $345.62 on Thursday. The firm’s fifty day moving average is $381.52 and its two-hundred day moving average is $397.33. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $146.61 billion, a PE ratio of 22.11, a P/E/G ratio of 1.61 and a beta of 1.51.

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

Wall Street Analyst Weigh In

ADBE has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. Evercore ISI reissued an “outperform” rating and set a $475.00 target price on shares of Adobe in a research report on Friday, June 13th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Monday, June 23rd. Finally, Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $473.88.

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.