Fulton Breakefield Broenniman LLC Trims Stake in Adobe Inc. (NASDAQ:ADBE)

Fulton Breakefield Broenniman LLC lowered its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,998 shares of the software company's stock after selling 910 shares during the period. Fulton Breakefield Broenniman LLC's holdings in Adobe were worth $9,587,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADBE. Copia Wealth Management purchased a new stake in shares of Adobe in the fourth quarter worth approximately $28,000. SWAN Capital LLC purchased a new stake in shares of Adobe during the fourth quarter valued at approximately $28,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe during the first quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new stake in shares of Adobe during the fourth quarter valued at approximately $31,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Adobe during the fourth quarter valued at approximately $36,000. Institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup decreased 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. Evercore ISI reissued an "outperform" rating and issued a $475.00 target price on shares of Adobe in a research report on Friday, June 13th. Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and decreased their target price for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Summit Redstone set a $410.00 target price on Adobe in a research report on Wednesday, March 19th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $480.00 target price on shares of Adobe in a research report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $473.88.

Adobe Price Performance

ADBE stock traded down $1.36 during mid-day trading on Tuesday, hitting $365.64. 1,347,479 shares of the stock were exchanged, compared to its average volume of 3,449,795. 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 business has a fifty day moving average price of $395.75 and a 200 day moving average price of $404.67. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The stock has a market capitalization of $155.10 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 1.72 and a beta of 1.51.

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, topping the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the business earned $4.48 earnings per share. The company's quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts anticipate 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.