Nichols & Pratt Advisers LLP MA Decreases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Nichols & Pratt Advisers LLP MA trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 72.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,503 shares of the software company's stock after selling 3,923 shares during the quarter. Nichols & Pratt Advisers LLP MA's holdings in Adobe were worth $576,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Siemens Fonds Invest GmbH lifted its holdings in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe during the first quarter valued at $26,000. SWAN Capital LLC bought a new position in Adobe during the fourth quarter valued at $28,000. Copia Wealth Management bought a new position in Adobe during the fourth quarter valued at $28,000. Finally, Summit Securities Group LLC bought a new position in Adobe during the fourth quarter valued at $31,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several analyst reports. Robert W. Baird raised 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. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and lowered their target price for the stock from $420.00 to $280.00 in a report on Wednesday. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Oppenheimer lowered their target price on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Finally, Bank of America raised their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $480.08.

Adobe Stock Performance

Shares of ADBE stock opened at $379.56 on Friday. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The business's fifty day simple moving average is $395.85 and its 200-day simple moving average is $408.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The company has a market cap of $161.01 billion, a PE ratio of 24.28, a PEG ratio of 1.79 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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 return on equity of 53.68% and a net margin of 30.39%. The firm 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 posted $4.48 EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts expect 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.