Absher Wealth Management LLC Acquires 980 Shares of Adobe Inc. (NASDAQ:ADBE)

Absher Wealth Management LLC lifted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 22.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,373 shares of the software company's stock after buying an additional 980 shares during the quarter. Absher Wealth Management LLC's holdings in Adobe were worth $2,061,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Siemens Fonds Invest GmbH grew its holdings in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares during the last quarter. SWAN Capital LLC acquired a new position in Adobe during the fourth quarter valued at approximately $28,000. Copia Wealth Management acquired a new position in Adobe during the fourth quarter valued at approximately $28,000. Summit Securities Group LLC acquired a new position in Adobe during the fourth quarter valued at approximately $31,000. Finally, Garde Capital Inc. acquired a new position in Adobe during the first quarter valued at approximately $34,000. Institutional investors own 81.79% of the company's stock.

Adobe Stock Up 0.8%

ADBE traded up $3.20 during midday trading on Monday, hitting $380.12. The company had a trading volume of 3,829,436 shares, compared to its average volume of 3,394,594. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a quick ratio of 1.18, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $162.01 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.79 and a beta of 1.55. The stock's 50 day moving average price is $389.67 and its 200 day moving average price is $415.50.

Analysts Set New Price Targets

ADBE has been the topic of several analyst reports. UBS Group increased their price target on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a report on Monday, June 9th. Citigroup reduced their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Oppenheimer reduced their price objective on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Finally, JMP Securities reiterated a "market perform" rating on shares of Adobe in a research note on Monday. Nine analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $496.75.

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.