Capitol Family Office Inc. Sells 1,131 Shares of Adobe Inc. (NASDAQ:ADBE)

Capitol Family Office Inc. cut its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 59.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 771 shares of the software company's stock after selling 1,131 shares during the period. Adobe accounts for approximately 0.4% of Capitol Family Office Inc.'s portfolio, making the stock its 23rd biggest holding. Capitol Family Office Inc.'s holdings in Adobe were worth $296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Siemens Fonds Invest GmbH boosted its stake in shares of Adobe by 252.9% in the 4th 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 in the last quarter. SWAN Capital LLC bought a new position in shares of Adobe in the 4th quarter valued at about $28,000. Copia Wealth Management acquired a new stake in shares of Adobe during the 4th quarter worth approximately $28,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the fourth quarter worth approximately $31,000. Finally, Garde Capital Inc. acquired a new position in Adobe in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore ISI restated an "outperform" rating and set a $475.00 target price on shares of Adobe in a research report on Friday, June 13th. DA Davidson reaffirmed a "buy" rating and issued a $500.00 target price on shares of Adobe in a research note on Friday, June 20th. Robert W. Baird increased their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Jefferies Financial Group decreased their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Stifel Nicolaus dropped their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research note on Friday, June 13th. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $496.75.

Adobe Trading Up 0.2%

ADBE opened at $385.83 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.18. The company's 50-day moving average is $393.23 and its 200 day moving average is $411.65. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The firm has a market capitalization of $163.67 billion, a PE ratio of 24.69, a P/E/G ratio of 1.82 and a beta of 1.55.

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 for the quarter, beating 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 company 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 earned $4.48 earnings per share. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe 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.

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