Roberts Glore & Co. Inc. IL Has $766,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Key Points

• Roberts Glore & Co. Inc. IL increased its holdings in Adobe Inc. by 72.6% after acquiring 840 shares, bringing its total to 1,997 shares valued at $766,000.
• Institutional ownership of Adobe is significant, with 81.79% of the stock held by institutional investors, showcasing strong interest from hedge funds and advisors.
• Adobe's recent earnings report revealed a 10.6% increase in revenue compared to the same quarter last year, with earnings per share beating estimates at $5.06.

Roberts Glore & Co. Inc. IL boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 72.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,997 shares of the software company's stock after buying an additional 840 shares during the quarter. Roberts Glore & Co. Inc. IL's holdings in Adobe were worth $766,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Siemens Fonds Invest GmbH lifted its position in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after acquiring an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe during the first quarter worth approximately $26,000. SWAN Capital LLC acquired a new stake in Adobe during the fourth quarter worth approximately $28,000. Copia Wealth Management acquired a new stake in Adobe during the fourth quarter worth approximately $28,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Adobe during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. Citigroup dropped their price target on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Morgan Stanley dropped their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $475.00 price target on shares of Adobe in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $473.88.

Adobe Price Performance

Shares of NASDAQ ADBE traded down $7.35 during midday trading on Thursday, reaching $338.27. 4,658,591 shares of the company were exchanged, compared to its average volume of 3,370,717. The stock's 50-day moving average price is $380.02 and its 200-day moving average price is $396.70. The stock has a market cap of $143.49 billion, a P/E ratio of 21.64, a PEG ratio of 1.64 and a beta of 1.51. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping 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 firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter in the previous year, the firm posted $4.48 earnings per share. The company's revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts anticipate 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.