O Brien Greene & Co. Inc Cuts Holdings in Adobe Inc. (NASDAQ:ADBE)

O Brien Greene & Co. Inc cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,133 shares of the software company’s stock after selling 154 shares during the quarter. Adobe accounts for 2.3% of O Brien Greene & Co. Inc’s portfolio, making the stock its 18th biggest holding. O Brien Greene & Co. Inc’s holdings in Adobe were worth $6,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. One Charles Private Wealth Services LLC increased its stake in shares of Adobe by 2.2% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock worth $400,000 after purchasing an additional 17 shares in the last quarter. Invst LLC raised its stake in Adobe by 1.9% in the 3rd quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after purchasing an additional 17 shares during the last quarter. Raleigh Capital Management Inc. raised its position in shares of Adobe by 3.1% in the third quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock valued at $285,000 after buying an additional 17 shares during the last quarter. Lantz Financial LLC boosted its holdings in shares of Adobe by 2.5% during the fourth quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock worth $411,000 after purchasing an additional 17 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management boosted its holdings in shares of Adobe by 4.3% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock valued at $249,000 after purchasing an additional 17 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 0.9 %

Adobe stock opened at $477.56 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Adobe Inc. has a 52 week low of $331.89 and a 52 week high of $638.25. The company has a 50 day moving average price of $515.34 and a 200 day moving average price of $564.33. The firm has a market capitalization of $213.95 billion, a price-to-earnings ratio of 45.66, a P/E/G ratio of 2.56 and a beta of 1.28.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.38 by $0.10. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the company posted $2.97 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. Research analysts forecast that Adobe Inc. will post 14.55 EPS for the current year.

Adobe declared that its board has authorized a stock buyback plan on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CAO Mark S. Garfield sold 96 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total transaction of $45,120.00. Following the sale, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at $1,940,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the completion of the sale, the chief accounting officer now owns 4,128 shares in the company, valued at $1,940,160. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $468.41, for a total value of $45,435.77. Following the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at approximately $1,933,596.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293 shares of company stock valued at $137,656. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. HSBC dropped their target price on shares of Adobe from $557.00 to $511.00 and set a “hold” rating for the company in a research report on Friday, March 15th. Bank of America lowered their target price on Adobe from $700.00 to $640.00 and set a “buy” rating for the company in a research note on Friday, March 15th. BMO Capital Markets restated an “outperform” rating and issued a $610.00 price target on shares of Adobe in a report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price objective on shares of Adobe from $600.00 to $570.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Finally, Oppenheimer restated an “outperform” rating and issued a $660.00 target price on shares of Adobe in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $620.72.

About Adobe

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.