New Hampshire Trust Sells 208 Shares of Adobe Inc. (NASDAQ:ADBE)

New Hampshire Trust lowered its stake in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 4.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 4,886 shares of the software company’s stock after selling 208 shares during the quarter. New Hampshire Trust’s holdings in Adobe were worth $2,465,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. One Charles Private Wealth Services LLC increased its holdings in Adobe by 2.2% in the 3rd quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock worth $400,000 after acquiring an additional 17 shares in the last quarter. Invst LLC increased its holdings in Adobe by 1.9% in the 3rd quarter. Invst LLC now owns 915 shares of the software company’s stock worth $467,000 after acquiring an additional 17 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in Adobe by 3.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock worth $285,000 after acquiring an additional 17 shares in the last quarter. Lantz Financial LLC increased its holdings in Adobe by 2.5% in the 4th quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock worth $411,000 after acquiring an additional 17 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management increased its holdings in Adobe by 4.3% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock worth $249,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock traded up $6.97 on Thursday, reaching $529.22. 1,325,702 shares of the stock were exchanged, compared to its average volume of 3,518,479. The company has a quick ratio of 1.05, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The firm has a market capitalization of $237.09 billion, a price-to-earnings ratio of 47.46, a PEG ratio of 2.73 and a beta of 1.27. The business has a 50 day moving average price of $476.62 and a two-hundred day moving average price of $538.69.

Adobe (NASDAQ:ADBEGet Free Report) last announced its quarterly earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the previous year, the company posted $3.04 earnings per share. Adobe’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts anticipate that Adobe Inc. will post 14.68 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has approved a stock buyback program on Thursday, March 14th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at $1,940,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Mark S. Garfield sold 264 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the completion of the transaction, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at approximately $1,439,897.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the transaction, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at $1,940,160. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,270 shares of company stock valued at $1,563,166. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a report on Friday, June 14th. Melius lowered shares of Adobe from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Monday, June 10th. Wells Fargo & Company raised their target price on shares of Adobe from $675.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Barclays raised their target price on shares of Adobe from $630.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Finally, UBS Group decreased their target price on Adobe from $600.00 to $540.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $607.67.

View Our Latest Report on ADBE

Adobe Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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