Investment Research & Advisory Group Inc. Grows Holdings in Adobe Inc. (NASDAQ:ADBE)

Investment Research & Advisory Group Inc. raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,839 shares of the software company’s stock after purchasing an additional 106 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in Adobe were worth $2,152,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ADBE. Smith Chas P & Associates PA Cpas raised its stake in Adobe by 38.5% during the 4th quarter. Smith Chas P & Associates PA Cpas now owns 1,800 shares of the software company’s stock valued at $800,000 after purchasing an additional 500 shares during the period. Patton Albertson Miller Group LLC grew its holdings in Adobe by 6.0% during the 4th quarter. Patton Albertson Miller Group LLC now owns 13,344 shares of the software company’s stock valued at $5,934,000 after buying an additional 751 shares in the last quarter. Insight Inv LLC bought a new stake in shares of Adobe during the fourth quarter valued at approximately $235,000. Stewardship Advisors LLC lifted its holdings in shares of Adobe by 10.6% in the fourth quarter. Stewardship Advisors LLC now owns 541 shares of the software company’s stock worth $241,000 after buying an additional 52 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC boosted its position in shares of Adobe by 71.3% during the fourth quarter. B.O.S.S. Retirement Advisors LLC now owns 879 shares of the software company’s stock worth $391,000 after acquiring an additional 366 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the 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 transaction, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Adobe Stock Down 0.4 %

Adobe stock opened at $435.38 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market cap of $189.52 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The business’s 50-day moving average price is $468.14 and its 200 day moving average price is $508.06. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating 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 company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the company earned $3.52 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on ADBE shares. 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. Royal Bank of Canada dropped their price target on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Citigroup cut their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Finally, Barclays reduced their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

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.