Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. lifted its position in Adobe Inc. (NASDAQ:ADBEGet Rating) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,206 shares of the software company’s stock after purchasing an additional 130 shares during the period. Sigma Investment Counselors Inc.’s holdings in Adobe were worth $3,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Transform Wealth LLC grew its holdings in shares of Adobe by 0.3% during the second quarter. Transform Wealth LLC now owns 20,572 shares of the software company’s stock worth $7,531,000 after buying an additional 52 shares in the last quarter. Joel Isaacson & Co. LLC grew its holdings in shares of Adobe by 10.1% during the second quarter. Joel Isaacson & Co. LLC now owns 1,021 shares of the software company’s stock worth $374,000 after buying an additional 94 shares in the last quarter. Gilman Hill Asset Management LLC grew its holdings in shares of Adobe by 46.7% during the second quarter. Gilman Hill Asset Management LLC now owns 1,037 shares of the software company’s stock worth $380,000 after buying an additional 330 shares in the last quarter. Ritholtz Wealth Management grew its holdings in shares of Adobe by 31.1% in the second quarter. Ritholtz Wealth Management now owns 5,497 shares of the software company’s stock valued at $2,012,000 after purchasing an additional 1,304 shares during the period. Finally, Five Oceans Advisors grew its holdings in shares of Adobe by 9.9% in the second quarter. Five Oceans Advisors now owns 677 shares of the software company’s stock valued at $248,000 after purchasing an additional 61 shares during the period. 80.75% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Down 1.0 %

Shares of ADBE stock traded down $2.95 during mid-day trading on Friday, reaching $284.11. 136,848 shares of the company were exchanged, compared to its average volume of 5,011,590. Adobe Inc. has a fifty-two week low of $280.06 and a fifty-two week high of $699.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.07 and a current ratio of 1.14. The company has a market capitalization of $132.96 billion, a P/E ratio of 28.02, a P/E/G ratio of 1.92 and a beta of 1.14. The business’s 50 day simple moving average is $389.95 and its 200 day simple moving average is $403.64.

Adobe (NASDAQ:ADBEGet Rating) last released its quarterly earnings data on Thursday, September 15th. The software company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.07. The firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.44 billion. Adobe had a net margin of 28.00% and a return on equity of 36.49%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.65 earnings per share. Research analysts predict that Adobe Inc. will post 11.1 earnings per share for the current year.

Insider Activity

In related news, CAO Mark S. Garfield sold 132 shares of Adobe stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $409.75, for a total transaction of $54,087.00. Following the sale, the chief accounting officer now directly owns 2,465 shares in the company, valued at $1,010,033.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Adobe news, CAO Mark S. Garfield sold 132 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $409.75, for a total value of $54,087.00. Following the sale, the chief accounting officer now directly owns 2,465 shares in the company, valued at $1,010,033.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Ann Lewnes sold 794 shares of Adobe stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $400.00, for a total value of $317,600.00. Following the completion of the transaction, the chief marketing officer now directly owns 23,988 shares in the company, valued at approximately $9,595,200. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,769 shares of company stock valued at $1,477,562. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on ADBE shares. Oppenheimer lowered shares of Adobe from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 15th. Mizuho reduced their price target on shares of Adobe from $440.00 to $360.00 in a research report on Friday, September 16th. Royal Bank of Canada reduced their target price on shares of Adobe from $500.00 to $425.00 and set an “outperform” rating on the stock in a report on Friday, September 16th. Stifel Nicolaus reduced their target price on shares of Adobe from $500.00 to $375.00 and set a “buy” rating on the stock in a report on Friday, September 16th. Finally, Bank of America lowered shares of Adobe from a “buy” rating to a “neutral” rating and dropped their price target for the company from $450.00 to $350.00 in a research note on Friday, September 16th. Sixteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe has an average rating of “Hold” and an average target price of $427.11.

Adobe Company Profile

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Adobe Inc 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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