Hohimer Wealth Management LLC Acquires 64 Shares of Adobe Inc. (NASDAQ:ADBE)

Hohimer Wealth Management LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,244 shares of the software company’s stock after buying an additional 64 shares during the period. Hohimer Wealth Management LLC’s holdings in Adobe were worth $1,162,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Soltis Investment Advisors LLC lifted its position in shares of Adobe by 1,189.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 10,253 shares of the software company’s stock valued at $5,309,000 after acquiring an additional 9,458 shares during the period. Financial Avengers Inc. raised its holdings in shares of Adobe by 6.2% during the third quarter. Financial Avengers Inc. now owns 5,679 shares of the software company’s stock valued at $2,940,000 after purchasing an additional 330 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of Adobe by 27.4% during the third quarter. Coldstream Capital Management Inc. now owns 11,203 shares of the software company’s stock valued at $5,832,000 after purchasing an additional 2,406 shares during the period. Ashford Capital Management Inc. boosted its holdings in Adobe by 15.1% in the third quarter. Ashford Capital Management Inc. now owns 3,124 shares of the software company’s stock worth $1,618,000 after acquiring an additional 410 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Adobe by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after purchasing an additional 147,981 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction that occurred 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 directly owns 18,128 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at approximately $186,569,166. The trade was a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,793 shares of company stock worth $18,069,669. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Down 0.2 %

ADBE stock opened at $547.05 on Wednesday. The stock has a 50-day simple moving average of $504.80 and a two-hundred day simple moving average of $522.67. 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 $240.81 billion, a PE ratio of 46.20, a PEG ratio of 2.52 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company earned $3.26 earnings per share. Adobe’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts predict that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADBE. Barclays upped their target price on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Citigroup dropped their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday. Oppenheimer restated an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research note on Friday, September 13th. Finally, BMO Capital Markets boosted their price target on shares of Adobe from $580.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $600.79.

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.