Hills Bank & Trust Co Buys 44 Shares of Adobe Inc. (NASDAQ:ADBE)

Hills Bank & Trust Co raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,957 shares of the software company’s stock after purchasing an additional 44 shares during the quarter. Hills Bank & Trust Co’s holdings in Adobe were worth $1,764,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ADBE. One Charles Private Wealth Services LLC grew its stake in Adobe by 2.2% during the third quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock valued at $400,000 after acquiring an additional 17 shares in the last quarter. Invst LLC boosted its stake in Adobe by 1.9% during the third quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after buying an additional 17 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in Adobe by 3.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock worth $285,000 after acquiring an additional 17 shares during the last quarter. Lantz Financial LLC increased its position in Adobe by 2.5% in 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 lifted its position in Adobe by 4.3% during the fourth 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. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at approximately $1,940,160. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now owns 4,128 shares in the company, valued at $1,940,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 2,713 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $474.30, for a total value of $1,286,775.90. Following the completion of the sale, the executive vice president now owns 21,114 shares in the company, valued at $10,014,370.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,006 shares of company stock valued at $1,424,432. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Up 0.3 %

ADBE stock traded up $1.41 during trading on Friday, reaching $484.06. The company had a trading volume of 1,667,516 shares, compared to its average volume of 3,384,668. The business has a 50 day moving average of $502.97 and a 200 day moving average of $559.95. The company has a market cap of $216.86 billion, a P/E ratio of 46.17, a PEG ratio of 2.63 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Adobe Inc. has a 52 week low of $331.89 and a 52 week high of $638.25.

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

Adobe declared that its Board of Directors has authorized a share buyback plan on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in outstanding 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 generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADBE shares. UBS Group lowered their price objective on Adobe from $600.00 to $540.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. KeyCorp assumed coverage on Adobe in a research report on Thursday, March 21st. They set an “underweight” rating and a $445.00 target price for the company. TheStreet downgraded Adobe from a “b-” rating to a “c+” rating in a report on Tuesday, March 19th. Oppenheimer restated an “outperform” rating and set a $660.00 price objective on shares of Adobe in a report on Wednesday, March 27th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.