Creekmur Asset Management LLC Has $587,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Creekmur Asset Management LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 839.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,531 shares of the software company's stock after purchasing an additional 1,368 shares during the period. Creekmur Asset Management LLC's holdings in Adobe were worth $587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADBE. Copia Wealth Management acquired a new position in shares of Adobe during the fourth quarter valued at $28,000. SWAN Capital LLC acquired a new position in shares of Adobe during the fourth quarter valued at $28,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe during the first quarter valued at $26,000. Summit Securities Group LLC acquired a new position in shares of Adobe during the fourth quarter valued at $31,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Adobe during the fourth quarter valued at $36,000. Institutional investors own 81.79% of the company's stock.

Adobe Stock Up 0.5%

Shares of NASDAQ ADBE traded up $1.89 during trading hours on Monday, hitting $367.68. The stock had a trading volume of 2,764,065 shares, compared to its average volume of 3,474,661. The company has a market capitalization of $155.97 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.73 and a beta of 1.51. The firm's 50-day moving average price is $394.20 and its two-hundred day moving average price is $402.45. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. 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 (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter in the prior year, the business earned $4.48 earnings per share. The company's revenue was up 10.6% on a year-over-year basis. Analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 price target on shares of Adobe in a report on Thursday, June 5th. Piper Sandler reduced 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. Wall Street Zen downgraded shares of Adobe from a "buy" rating to a "hold" rating in a report on Friday. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a report on Monday, June 23rd. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $475.00 price objective on shares of Adobe in a report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $473.88.

About Adobe

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.