Fiduciary Alliance LLC Has $882,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Fiduciary Alliance LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 240.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,984 shares of the software company’s stock after acquiring an additional 1,401 shares during the period. Fiduciary Alliance LLC’s holdings in Adobe were worth $882,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ADBE. Eastover Investment Advisors LLC grew its stake in Adobe by 1.7% during the fourth quarter. Eastover Investment Advisors LLC now owns 3,548 shares of the software company’s stock worth $1,578,000 after purchasing an additional 60 shares during the period. Czech National Bank grew its position in shares of Adobe by 5.7% during the 4th quarter. Czech National Bank now owns 95,445 shares of the software company’s stock worth $42,442,000 after buying an additional 5,120 shares during the period. HBW Advisory Services LLC increased 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 valued at $409,000 after acquiring an additional 29 shares in the last quarter. Jacobs & Co. CA lifted its position in shares of Adobe by 2.7% during the 4th quarter. Jacobs & Co. CA now owns 37,090 shares of the software company’s stock valued at $16,493,000 after acquiring an additional 973 shares during the period. Finally, Sage Capital Advisors llc boosted its stake in Adobe by 1.0% during the fourth quarter. Sage Capital Advisors llc now owns 5,865 shares of the software company’s stock worth $2,608,000 after acquiring an additional 57 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the topic of several research reports. Sanford C. Bernstein dropped their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company dropped their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada reduced their price objective on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Barclays lowered their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Finally, BMO Capital Markets reduced their price target on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and two have given 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 $575.85.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,763 shares of company stock worth $893,665 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Up 0.6 %

Shares of ADBE stock opened at $408.50 on Tuesday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. 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 50 day moving average of $482.55 and a 200-day moving average of $516.02. The firm has a market cap of $179.82 billion, a P/E ratio of 32.94, a PEG ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the firm earned $3.52 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Adobe Inc. will post 16.73 earnings per share for the current 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.