FSB Premier Wealth Management Inc. Boosts Holdings in Adobe Inc. (NASDAQ:ADBE)

FSB Premier Wealth Management Inc. boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 14.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 697 shares of the software company’s stock after purchasing an additional 90 shares during the quarter. FSB Premier Wealth Management Inc.’s holdings in Adobe were worth $310,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ADBE. United Bank lifted its holdings in shares of Adobe by 19.7% during the third quarter. United Bank now owns 2,596 shares of the software company’s stock valued at $1,344,000 after purchasing an additional 428 shares in the last quarter. Edgestream Partners L.P. bought a new position in Adobe during the 3rd quarter valued at about $719,000. Tradition Wealth Management LLC boosted its holdings in shares of Adobe by 2.8% during the 3rd quarter. Tradition Wealth Management LLC now owns 2,646 shares of the software company’s stock valued at $1,370,000 after acquiring an additional 73 shares during the last quarter. True Wealth Design LLC grew 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 worth $30,000 after acquiring an additional 34 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in shares of Adobe during the third quarter valued at approximately $81,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 0.6 %

Adobe stock opened at $383.53 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm’s 50 day moving average price is $430.88 and its 200-day moving average price is $467.49. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The stock has a market cap of $163.46 billion, a P/E ratio of 30.93, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the previous year, the company earned $4.48 EPS. On average, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 922 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Ricks purchased 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of a number of research analyst reports. Barclays cut their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Citigroup cut their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Mizuho lowered their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Redburn Atlantic initiated coverage on Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Jefferies Financial Group lowered their price objective on shares of Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research note on Monday. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $531.54.

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.