Adobe Inc. (NASDAQ:ADBE) Stock Holdings Raised by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH raised its stake in Adobe Inc. (NASDAQ:ADBE) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,350 shares of the software company’s stock after purchasing an additional 106 shares during the period. Trust Co. of Toledo NA OH’s holdings in Adobe were worth $1,490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fiduciary Alliance LLC grew its position in shares of Adobe by 240.3% during the 4th quarter. Fiduciary Alliance LLC now owns 1,984 shares of the software company’s stock valued at $882,000 after buying an additional 1,401 shares during the last quarter. Eastover Investment Advisors LLC lifted its stake in shares of Adobe by 1.7% in the 4th quarter. Eastover Investment Advisors LLC now owns 3,548 shares of the software company’s stock worth $1,578,000 after acquiring an additional 60 shares during the period. Czech National Bank lifted its stake in shares of Adobe by 5.7% in the 4th quarter. Czech National Bank now owns 95,445 shares of the software company’s stock worth $42,442,000 after acquiring an additional 5,120 shares during the period. HBW Advisory Services LLC lifted its stake in shares of Adobe by 3.3% in the 4th quarter. HBW Advisory Services LLC now owns 920 shares of the software company’s stock worth $409,000 after acquiring an additional 29 shares during the period. Finally, Jacobs & Co. CA lifted its stake in shares of Adobe by 2.7% in the 4th quarter. Jacobs & Co. CA now owns 37,090 shares of the software company’s stock worth $16,493,000 after acquiring an additional 973 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,293 shares of company stock worth $1,679,809 in the last ninety days. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ADBE shares. Jefferies Financial Group cut their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Citigroup cut their target price on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and cut their target price for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Finally, Argus raised shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $575.85.

Adobe Stock Performance

NASDAQ ADBE traded up $0.27 during midday trading on Monday, hitting $406.19. The company had a trading volume of 1,090,866 shares, compared to its average volume of 3,746,766. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market cap of $178.80 billion, a price-to-earnings ratio of 32.76, a P/E/G ratio of 2.51 and a beta of 1.31. The firm has a fifty day simple moving average of $484.01 and a two-hundred day simple moving average of $517.00. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $3.52 EPS. Equities analysts forecast that Adobe Inc. will post 16.73 earnings per share for the current fiscal 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.