Jeppson Wealth Management LLC Increases Position in Adobe Inc. (NASDAQ:ADBE)

Jeppson Wealth Management LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,538 shares of the software company’s stock after buying an additional 93 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Adobe were worth $684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Adobe by 1.2% in the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after purchasing an additional 234,909 shares during the period. Geode Capital Management LLC increased its stake in Adobe by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock valued at $5,435,377,000 after buying an additional 147,981 shares during the period. FMR LLC raised its position in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Adobe by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock worth $2,516,196,000 after acquiring an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Adobe by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after acquiring an additional 140,390 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Up 0.7 %

Shares of ADBE stock opened at $438.59 on Tuesday. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25. The firm’s 50 day moving average price is $468.14 and its two-hundred day moving average price is $507.26. The stock has a market cap of $190.92 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

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

Analyst Ratings Changes

Several analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and decreased their price target for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Royal Bank of Canada dropped their price objective on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Oppenheimer decreased their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Finally, Sanford C. Bernstein dropped their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Insider Activity

In related news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.