Adobe Inc. (NASDAQ:ADBE) is CMH Wealth Management LLC's 9th Largest Position

CMH Wealth Management LLC raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 69.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,166 shares of the software company's stock after buying an additional 12,410 shares during the quarter. Adobe comprises about 2.9% of CMH Wealth Management LLC's portfolio, making the stock its 9th biggest holding. CMH Wealth Management LLC's holdings in Adobe were worth $11,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH lifted its stake in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after acquiring an additional 39,888 shares in the last quarter. SWAN Capital LLC purchased a new stake in Adobe during the fourth quarter worth about $28,000. Copia Wealth Management acquired a new stake in shares of Adobe during the fourth quarter worth about $28,000. Summit Securities Group LLC purchased a new position in shares of Adobe in the fourth quarter valued at approximately $31,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Adobe in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

Adobe Stock Performance

Shares of ADBE traded down $0.66 during midday trading on Monday, reaching $416.26. 3,032,627 shares of the stock were exchanged, compared to its average volume of 3,407,984. The business's 50-day moving average price is $381.41 and its 200 day moving average price is $424.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a market capitalization of $177.41 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter last year, the business posted $4.48 EPS. On average, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research reports. Robert W. Baird reduced their target price on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Mizuho reduced their price target on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Citigroup decreased their price objective on Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Morgan Stanley cut their target price on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, DA Davidson reduced their target price on shares of Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Adobe currently has an average rating of "Moderate Buy" and a consensus target price of $504.81.

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.