Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC increased its holdings in Adobe Inc. by 8.8% during the first quarter, acquiring an additional 1,296 shares for a total of 16,004 shares valued at approximately $6.14 million.
• Adobe reported $5.06 earnings per share for the last quarter, exceeding expectations, and achieved revenue of $5.87 billion, which represents a 10.6% year-over-year increase.
• In terms of analyst ratings, Adobe has a consensus rating of "Moderate Buy", with an average price target of $473.88, and has received varying price targets from several research firms.

Eagle Global Advisors LLC boosted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,004 shares of the software company's stock after acquiring an additional 1,296 shares during the period. Eagle Global Advisors LLC's holdings in Adobe were worth $6,138,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH raised 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 shares of Adobe during the first quarter valued at approximately $26,000. SWAN Capital LLC bought a new stake in shares of Adobe during the fourth quarter valued at approximately $28,000. Copia Wealth Management bought a new stake in Adobe in the fourth quarter worth $28,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Adobe in the first quarter worth $30,000. 81.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ADBE. Oppenheimer reduced their price target on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. Evercore ISI reiterated an "outperform" rating and issued a $475.00 price target on shares of Adobe in a report on Friday, June 13th. UBS Group increased their target price on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Royal Bank Of Canada reissued an "outperform" rating and issued a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. Finally, Robert W. Baird lifted their price objective on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $467.58.

Adobe Stock Performance

Shares of ADBE stock traded up $4.78 during mid-day trading on Tuesday, hitting $338.43. 3,569,055 shares of the stock were exchanged, compared to its average volume of 3,473,941. 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 Inc. has a 12-month low of $330.04 and a 12-month high of $587.75. The stock's fifty day simple moving average is $375.67 and its two-hundred day simple moving average is $394.37. The stock has a market capitalization of $143.56 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 1.58 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last announced 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 return on equity of 53.68% and a net margin of 30.39%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the company earned $4.48 EPS. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

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.