Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,228 shares of the software company's stock after acquiring an additional 8,484 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Adobe were worth $52,296,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after acquiring an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock valued at $2,504,685,000 after acquiring an additional 821,293 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Adobe by 12.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock valued at $2,375,345,000 after acquiring an additional 600,146 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Adobe by 14.5% during the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company's stock valued at $2,363,125,000 after acquiring an additional 672,919 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.
Adobe Stock Up 0.7%
Shares of ADBE opened at $357.24 on Tuesday. The company has a 50-day simple moving average of $370.66 and a 200-day simple moving average of $391.57. The firm has a market capitalization of $151.54 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.68 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $587.75.
Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the business posted $4.48 earnings per share. The company's quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.
Wall Street Analysts Forecast Growth
ADBE has been the subject of a number of recent research reports. Wells Fargo & Company reiterated an "overweight" rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Robert W. Baird upped their price objective on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. BMO Capital Markets reiterated an "outperform" rating and issued a $450.00 price objective on shares of Adobe in a report on Friday, June 13th. Bank of America upped their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, Piper Sandler decreased their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Adobe currently has an average rating of "Moderate Buy" and an average target price of $467.58.
Get Our Latest Analysis on ADBE
About Adobe
(
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.
Further Reading
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