Outlook Wealth Advisors LLC Has $447,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Outlook Wealth Advisors LLC boosted its position in Adobe Inc. (NASDAQ:ADBE) by 13.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,006 shares of the software company’s stock after buying an additional 122 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Adobe were worth $447,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Piscataqua Savings Bank grew its position in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Adobe during the 3rd quarter valued at approximately $26,000. Groupama Asset Managment grew its holdings in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in Adobe in the 3rd quarter worth approximately $30,000. Finally, True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 481 shares of the company’s 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 in the company, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Up 1.1 %

Shares of NASDAQ ADBE opened at $417.28 on Thursday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. The firm’s 50-day simple moving average is $481.07 and its 200 day simple moving average is $515.02. 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 company has a market cap of $183.69 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31.

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

Analyst Upgrades and Downgrades

ADBE has been the topic of several research analyst reports. BMO Capital Markets lowered their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Citigroup dropped their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Piper Sandler reduced their target price on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Sanford C. Bernstein decreased their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Finally, Oppenheimer cut their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

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.