Integrated Investment Consultants LLC Acquires 25 Shares of Adobe Inc. (NASDAQ:ADBE)

Integrated Investment Consultants LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 657 shares of the software company’s stock after purchasing an additional 25 shares during the period. Integrated Investment Consultants LLC’s holdings in Adobe were worth $292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors grew its stake in shares of Adobe by 7.4% in the fourth quarter. Arkadios Wealth Advisors now owns 2,812 shares of the software company’s stock valued at $1,250,000 after acquiring an additional 193 shares in the last quarter. Trust Co of Kansas grew its stake in shares of Adobe by 1.3% in the fourth quarter. Trust Co of Kansas now owns 11,139 shares of the software company’s stock valued at $4,953,000 after acquiring an additional 144 shares in the last quarter. Lake Street Private Wealth LLC grew its stake in shares of Adobe by 1.0% in the fourth quarter. Lake Street Private Wealth LLC now owns 7,568 shares of the software company’s stock valued at $3,365,000 after acquiring an additional 77 shares in the last quarter. Canoe Financial LP lifted its position in Adobe by 1.7% during the fourth quarter. Canoe Financial LP now owns 23,606 shares of the software company’s stock worth $10,497,000 after purchasing an additional 400 shares during the period. Finally, Dakota Community Bank & Trust NA lifted its position in Adobe by 18.1% during the fourth quarter. Dakota Community Bank & Trust NA now owns 228 shares of the software company’s stock worth $101,000 after purchasing an additional 35 shares during the period. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

Shares of Adobe stock opened at $429.99 on Friday. Adobe Inc. has a one year low of $403.75 and a one year high of $638.25. The stock’s fifty day moving average is $476.55 and its 200 day moving average is $512.82. The stock has a market cap of $189.28 billion, a P/E ratio of 34.68, a P/E/G ratio of 1.97 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last posted 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. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 earnings per share. Sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ADBE. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company dropped their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. DA Davidson decreased their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Bank of America decreased their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, BMO Capital Markets decreased their target price 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

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.