Physicians Financial Services Inc. Raises Stock Position in Adobe Inc. (NASDAQ:ADBE)

Physicians Financial Services Inc. raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,349 shares of the software company’s stock after acquiring an additional 353 shares during the quarter. Adobe makes up 1.0% of Physicians Financial Services Inc.’s portfolio, making the stock its 28th largest holding. Physicians Financial Services Inc.’s holdings in Adobe were worth $3,268,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the 3rd quarter worth about $26,000. Groupama Asset Managment grew its stake in shares of Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Adobe in the third quarter worth approximately $30,000. True Wealth Design LLC lifted its stake in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Adobe during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $454.69 on Friday. The business has a 50 day simple moving average of $440.89 and a 200-day simple moving average of $494.61. The company has a market capitalization of $197.93 billion, a P/E ratio of 36.67, a PEG ratio of 2.25 and a beta of 1.31. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Redburn Atlantic assumed coverage on shares of Adobe in a report on Wednesday. They issued a “neutral” rating for the company. Sanford C. Bernstein decreased their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Bank of America decreased their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Oppenheimer cut their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and dropped their price target for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $570.88.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 in the last 90 days. Corporate insiders own 0.15% of the company’s stock.

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.