Diversified Trust Co Increases Holdings in Adobe Inc. (NASDAQ:ADBE)

Diversified Trust Co grew its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 16.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,612 shares of the software company's stock after buying an additional 1,390 shares during the quarter. Diversified Trust Co's holdings in Adobe were worth $3,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Financial Advisory LLC lifted its holdings in Adobe by 16.1% in the first quarter. Beacon Financial Advisory LLC now owns 555 shares of the software company's stock valued at $213,000 after acquiring an additional 77 shares during the period. Hidden Cove Wealth Management LLC purchased a new stake in shares of Adobe during the 1st quarter valued at about $375,000. Falcon Wealth Planning lifted its stake in shares of Adobe by 11.1% in the 1st quarter. Falcon Wealth Planning now owns 1,273 shares of the software company's stock worth $488,000 after purchasing an additional 127 shares during the period. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST boosted its holdings in shares of Adobe by 1.1% in the first quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 728,038 shares of the software company's stock worth $279,224,000 after buying an additional 8,038 shares during the last quarter. Finally, PDS Planning Inc grew its position in Adobe by 4.6% during the first quarter. PDS Planning Inc now owns 3,780 shares of the software company's stock valued at $1,450,000 after buying an additional 167 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Down 0.7%

ADBE stock opened at $384.95 on Friday. The firm has a fifty day moving average price of $392.49 and a 200 day moving average price of $412.76. 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 cap of $164.07 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 EPS 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 business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the business earned $4.48 earnings per share. Adobe's quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley decreased their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Robert W. Baird lifted their target price on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Citigroup reduced their price target on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Finally, KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average 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.

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