Eagle Global Advisors LLC Buys 1,296 Shares of Adobe Inc. (NASDAQ:ADBE)

Eagle Global Advisors LLC grew its position in Adobe Inc. (NASDAQ:ADBEFree Report) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,004 shares of the software company’s stock after acquiring an additional 1,296 shares during the quarter. Eagle Global Advisors LLC’s holdings in Adobe were worth $6,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ADBE. Cadence Bank increased its holdings in Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company’s stock valued at $2,171,000 after acquiring an additional 22 shares in the last quarter. Eagle Strategies LLC raised its holdings in shares of Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock worth $651,000 after acquiring an additional 22 shares during the last quarter. RB Capital Management LLC boosted its stake in shares of Adobe by 0.4% during the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock valued at $2,198,000 after acquiring an additional 22 shares during the last quarter. Orin Green Financial LLC boosted its stake in shares of Adobe by 3.8% during the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company’s stock valued at $276,000 after acquiring an additional 23 shares during the last quarter. Finally, Diligent Investors LLC increased its position in Adobe by 1.2% during the 4th quarter. Diligent Investors LLC now owns 2,160 shares of the software company’s stock worth $961,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.8%

Shares of ADBE stock opened at $341.05 on Monday. The company has a market capitalization of $144.67 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.62 and a beta of 1.51. The firm has a 50 day moving average price of $378.55 and a two-hundred day moving average price of $395.47. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBEGet Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the previous year, the firm earned $4.48 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

ADBE has been the subject of several research reports. DA Davidson reiterated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research note on Friday, June 20th. Oppenheimer dropped their target price on Adobe from $530.00 to $500.00 and set an “outperform” rating on the stock in a research report on Friday, June 13th. Stifel Nicolaus cut their price target on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a report on Friday, June 13th. UBS Group increased their target price on Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a report on Monday, June 9th. Finally, Evercore ISI restated an “outperform” rating and issued a $475.00 price target on shares of Adobe in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $473.88.

View Our Latest Stock Analysis on Adobe

Adobe Company 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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