Advisory Alpha LLC Has $322,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Advisory Alpha LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 28.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 725 shares of the software company’s stock after acquiring an additional 159 shares during the period. Advisory Alpha LLC’s holdings in Adobe were worth $322,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Piscataqua Savings Bank increased its position in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe during the 3rd quarter worth about $26,000. Groupama Asset Managment increased its position in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Adobe during the 3rd quarter worth about $30,000. Finally, True Wealth Design LLC increased its position in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE opened at $437.28 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The firm’s 50 day moving average price is $471.36 and its two-hundred day moving average price is $509.54. The firm has a market cap of $190.35 billion, a P/E ratio of 35.26, a PEG ratio of 2.11 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The business 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 45.87%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.52 earnings per share. On average, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction 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 sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADBE. Royal Bank of Canada dropped their target price on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company decreased their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Bank of America decreased their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Piper Sandler decreased their price objective on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price 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.