Adobe Inc. (NASDAQ:ADBE) Stock Holdings Boosted by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. lifted its stake in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 0.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,273 shares of the software company’s stock after buying an additional 25 shares during the quarter. Adobe comprises about 12.5% of Bourne Lent Asset Management Inc.’s holdings, making the stock its 2nd biggest holding. Bourne Lent Asset Management Inc.’s holdings in Adobe were worth $30,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. One Charles Private Wealth Services LLC grew its position in shares of Adobe by 2.2% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock valued at $400,000 after buying an additional 17 shares during the last quarter. Invst LLC boosted its stake in Adobe by 1.9% in the third quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after acquiring an additional 17 shares during the period. Raleigh Capital Management Inc. grew its holdings in shares of Adobe by 3.1% during the third quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock valued at $285,000 after purchasing an additional 17 shares during the last quarter. Lantz Financial LLC raised its position in shares of Adobe by 2.5% during the 4th quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock worth $411,000 after purchasing an additional 17 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management boosted its position in Adobe by 4.3% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock valued at $249,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 0.3 %

Shares of NASDAQ:ADBE traded up $1.69 during mid-day trading on Tuesday, hitting $525.86. The stock had a trading volume of 1,790,849 shares, compared to its average volume of 3,562,643. The company’s 50 day moving average is $479.66 and its 200-day moving average is $536.63. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 1.16. The company has a market cap of $235.59 billion, a PE ratio of 47.43, a P/E/G ratio of 2.78 and a beta of 1.27.

Adobe (NASDAQ:ADBEGet Free Report) last released its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the company earned $3.04 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Adobe Inc. will post 14.69 EPS for the current year.

Adobe declared that its board has authorized a share repurchase plan on Thursday, March 14th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the transaction, the chief accounting officer now owns 4,128 shares in the company, valued at approximately $1,940,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction on Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the completion of the sale, the chief accounting officer now owns 2,740 shares of the company’s stock, valued at $1,439,897.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at $1,940,160. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,270 shares of company stock worth $1,563,166. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ADBE shares. JPMorgan Chase & Co. raised Adobe from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $570.00 to $580.00 in a research report on Friday, June 14th. Melius Research reiterated a “hold” rating and issued a $510.00 price objective on shares of Adobe in a research report on Monday, June 10th. Stifel Nicolaus decreased their target price on shares of Adobe from $625.00 to $600.00 and set a “buy” rating for the company in a research report on Friday, June 7th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, June 14th. Finally, HSBC decreased their price objective on Adobe from $557.00 to $511.00 and set a “hold” rating for the company in a report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $607.67.

View Our Latest Stock Analysis 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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