Colonial Trust Advisors Grows Stock Position in Adobe Inc. $ADBE

Key Points

• Colonial Trust Advisors increased its stake in Adobe Inc. by 13.3%, bringing its total holdings to 7,869 shares, valued at approximately $3,018,000.
• Analysts have mixed ratings on Adobe, with the consensus being a "Moderate Buy" and a target price of $467.58, reflecting a range of opinions from strong buy to sell ratings.
• Adobe's recent earnings report showed a profit of $5.06 per share and revenue of $5.87 billion, surpassing analyst expectations and representing a 10.6% increase year-over-year.

Colonial Trust Advisors boosted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,869 shares of the software company's stock after acquiring an additional 926 shares during the quarter. Colonial Trust Advisors' holdings in Adobe were worth $3,018,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Siemens Fonds Invest GmbH boosted its position in 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 buying an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe in the first quarter valued at about $26,000. SWAN Capital LLC purchased a new position in Adobe in the fourth quarter valued at about $28,000. Copia Wealth Management purchased a new position in Adobe in the fourth quarter valued at about $28,000. Finally, HHM Wealth Advisors LLC purchased a new position in Adobe in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

ADBE has been the subject of several research analyst reports. Wells Fargo & Company reiterated an "overweight" rating and set a $470.00 target price (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Melius downgraded shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective on the stock. in a research note on Monday, August 11th. DA Davidson reaffirmed a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Finally, Oppenheimer reduced their price target on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Adobe has an average rating of "Moderate Buy" and a consensus target price of $467.58.

Adobe Stock Up 0.7%

Shares of Adobe stock opened at $357.24 on Tuesday. The business's fifty day moving average price is $370.66 and its two-hundred day moving average price is $391.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $151.54 billion, a P/E ratio of 22.86, a PEG ratio of 1.68 and a beta of 1.51. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. During the same period in the previous year, the business earned $4.48 earnings per share. The company's revenue was up 10.6% on a year-over-year basis. As a group, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current 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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