Hamilton Point Investment Advisors LLC Acquires 199 Shares of Adobe Inc. (NASDAQ:ADBE)

Hamilton Point Investment Advisors LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,075 shares of the software company’s stock after buying an additional 199 shares during the quarter. Adobe comprises approximately 1.6% of Hamilton Point Investment Advisors LLC’s portfolio, making the stock its 18th largest holding. Hamilton Point Investment Advisors LLC’s holdings in Adobe were worth $8,927,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ADBE. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the third quarter worth $26,000. Piscataqua Savings Bank increased its position in Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Adobe during the 3rd quarter worth about $30,000. True Wealth Design LLC boosted its stake in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Adobe during the 3rd quarter worth approximately $36,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 1.0 %

Shares of ADBE stock opened at $446.00 on Friday. The firm’s fifty day moving average price is $463.46 and its two-hundred day moving average price is $504.74. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $194.14 billion, a P/E ratio of 35.97, a PEG ratio of 2.14 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 45.87% and a net margin of 25.85%. Adobe’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.52 earnings per share. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on ADBE shares. UBS Group cut their price objective on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Mizuho reduced their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Piper Sandler dropped their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Bank of America reduced their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Stifel Nicolaus lowered their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Activity at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the stock in a transaction 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 in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by corporate insiders.

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.