R.H. Dinel Investment Counsel Inc. lowered its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,250 shares of the software company’s stock after selling 500 shares during the period. Adobe makes up 7.1% of R.H. Dinel Investment Counsel Inc.’s holdings, making the stock its 2nd largest position. R.H. Dinel Investment Counsel Inc.’s holdings in Adobe were worth $7,998,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. JJJ Advisors Inc. bought a new stake in Adobe during the third quarter worth approximately $28,000. Hexavest Inc. boosted its holdings in shares of Adobe by 58.2% during the 3rd quarter. Hexavest Inc. now owns 106 shares of the software company’s stock worth $29,000 after buying an additional 39 shares during the period. Resources Investment Advisors LLC. grew its stake in Adobe by 94.3% in the 2nd quarter. Resources Investment Advisors LLC. now owns 103 shares of the software company’s stock valued at $30,000 after buying an additional 50 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Adobe in the 3rd quarter valued at $35,000. Finally, Marquette Asset Management LLC grew its stake in Adobe by 57.8% in the 3rd quarter. Marquette Asset Management LLC now owns 142 shares of the software company’s stock valued at $39,000 after buying an additional 52 shares during the last quarter. 84.84% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:ADBE traded up $2.24 during mid-day trading on Thursday, hitting $345.18. The company’s stock had a trading volume of 156,721 shares, compared to its average volume of 1,791,495. Adobe Inc has a fifty-two week low of $237.26 and a fifty-two week high of $347.27. The company has a market capitalization of $166.83 billion, a price-to-earnings ratio of 52.62, a P/E/G ratio of 2.65 and a beta of 1.11. The stock has a fifty day moving average of $323.24 and a 200-day moving average of $296.87. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 0.09.
In other news, CMO Ann Lewnes sold 3,000 shares of Adobe stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $300.54, for a total value of $901,620.00. Following the completion of the transaction, the chief marketing officer now owns 45,528 shares in the company, valued at $13,682,985.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles M. Geschke sold 16,764 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $332.00, for a total value of $5,565,648.00. The disclosure for this sale can be found here. Insiders have sold 37,312 shares of company stock valued at $12,297,624 over the last quarter. Corporate insiders own 0.32% of the company’s stock.
A number of research analysts have weighed in on ADBE shares. Nomura boosted their target price on shares of Adobe from $310.00 to $318.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Citigroup boosted their price objective on Adobe from $313.00 to $321.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Griffin Securities increased their target price on Adobe from $330.00 to $334.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Piper Jaffray Companies boosted their target price on shares of Adobe from $339.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $390.00 price target (up from $370.00) on shares of Adobe in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $333.21.
Adobe Company Profile
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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