Trust Co of Kansas lifted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 31.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,692 shares of the software company's stock after buying an additional 3,553 shares during the period. Adobe makes up 3.0% of Trust Co of Kansas' holdings, making the stock its 15th largest position. Trust Co of Kansas' holdings in Adobe were worth $5,635,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after purchasing an additional 167 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in Adobe by 2.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after buying an additional 756 shares during the last quarter. MONECO Advisors LLC grew its position in Adobe by 14.0% in the fourth quarter. MONECO Advisors LLC now owns 832 shares of the software company's stock worth $370,000 after buying an additional 102 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Adobe by 9.6% in the fourth quarter. IFP Advisors Inc now owns 5,736 shares of the software company's stock valued at $2,553,000 after buying an additional 502 shares in the last quarter. Finally, GHE LLC lifted its position in shares of Adobe by 2.9% during the 4th quarter. GHE LLC now owns 23,577 shares of the software company's stock valued at $10,484,000 after acquiring an additional 670 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.
Analyst Ratings Changes
ADBE has been the topic of a number of recent research reports. Jefferies Financial Group decreased their target price on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Evercore ISI reissued an "outperform" rating and issued a $475.00 price target on shares of Adobe in a research note on Friday, June 13th. BMO Capital Markets restated an "outperform" rating and set a $450.00 price objective on shares of Adobe in a report on Friday, June 13th. KeyCorp raised shares of Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Finally, Bank of America lifted their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $496.75.
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Adobe Stock Down 0.7%
ADBE stock traded down $2.60 during mid-day trading on Thursday, hitting $384.95. The stock had a trading volume of 3,136,776 shares, compared to its average volume of 3,404,659. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a fifty day moving average of $391.76 and a 200 day moving average of $413.89. The company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $164.07 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.81 and a beta of 1.55.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.48 EPS. On average, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.
Adobe Profile
(
Free Report)
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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