Physician Wealth Advisors Inc. Sells 27 Shares of Adobe Inc. (NASDAQ:ADBE)

Physician Wealth Advisors Inc. lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 537 shares of the software company’s stock after selling 27 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Adobe were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IPG Investment Advisors LLC bought a new position in Adobe in the fourth quarter valued at $222,000. California Public Employees Retirement System increased its position in Adobe by 2.8% during the fourth quarter. California Public Employees Retirement System now owns 986,587 shares of the software company’s stock worth $438,716,000 after acquiring an additional 26,429 shares during the period. RWA Wealth Partners LLC lifted its position in shares of Adobe by 2.1% during the 4th quarter. RWA Wealth Partners LLC now owns 6,665 shares of the software company’s stock valued at $2,964,000 after acquiring an additional 140 shares during the period. Summit Securities Group LLC bought a new position in Adobe in the 4th quarter valued at about $31,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Adobe by 82.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company’s stock worth $937,291,000 after buying an additional 952,233 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ADBE shares. DA Davidson dropped their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BMO Capital Markets dropped their price objective on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Oppenheimer lowered their target price on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Summit Redstone set a $410.00 price target on shares of Adobe in a research report on Wednesday, March 19th. Finally, StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $533.85.

Adobe Trading Down 2.6 %

NASDAQ ADBE opened at $385.71 on Friday. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. The firm has a 50-day moving average price of $431.81 and a 200 day moving average price of $469.69. The stock has a market capitalization of $164.39 billion, a P/E ratio of 31.11, a P/E/G ratio of 2.15 and a beta of 1.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the firm posted $4.48 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current 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.