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

R.H. Dinel Investment Counsel Inc. decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,930 shares of the software company’s stock after selling 100 shares during the quarter. Adobe comprises about 7.4% of R.H. Dinel Investment Counsel Inc.’s investment portfolio, 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.

Other institutional investors also recently made changes to their positions in the company. Piscataqua Savings Bank grew its stake in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the 3rd quarter valued at about $26,000. Groupama Asset Managment boosted its position in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of Adobe during the third quarter worth about $30,000. Finally, True Wealth Design LLC increased its stake in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Down 0.2 %

Shares of NASDAQ:ADBE opened at $435.35 on Wednesday. The company has a market capitalization of $189.51 billion, a PE ratio of 35.36, a P/E/G ratio of 2.08 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company’s fifty day moving average is $473.26 and its 200-day moving average is $510.05. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly 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 firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $3.52 EPS. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,763 shares of company stock valued at $893,665. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ADBE shares. Mizuho reduced their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Monday. Stifel Nicolaus lowered their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Bank of America lowered their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Citigroup dropped their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

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.