Bedel Financial Consulting Inc. Has $642,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

Bedel Financial Consulting Inc. lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,468 shares of the software company’s stock after acquiring an additional 49 shares during the period. Bedel Financial Consulting Inc.’s holdings in Adobe were worth $642,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADBE. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe during the 3rd quarter worth $26,000. Groupama Asset Managment grew its holdings in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe during the third quarter worth about $30,000. True Wealth Design LLC boosted its position in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Adobe during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 922 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $440.72 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The stock’s 50 day moving average is $439.59 and its 200-day moving average is $489.79. The firm has a market capitalization of $191.85 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the business posted $3.52 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ADBE. DA Davidson reduced their target price on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company cut their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. UBS Group cut their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. BMO Capital Markets cut their price objective on Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $570.88.

Adobe 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.