Linscomb Wealth Inc. Purchases 532 Shares of Adobe Inc. (NASDAQ:ADBE)

Linscomb Wealth Inc. grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,327 shares of the software company’s stock after buying an additional 532 shares during the quarter. Linscomb Wealth Inc.’s holdings in Adobe were worth $2,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Adobe during the 3rd quarter valued at $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe during the third quarter worth $30,000. True Wealth Design LLC increased its stake in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares in the last quarter. Briaud Financial Planning Inc bought a new position in shares of Adobe in the third quarter valued at about $36,000. Finally, Decker Retirement Planning Inc. acquired a new position in Adobe during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In other Adobe news, Director David A. Ricks purchased 2,250 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 over the last three months. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $438.49 on Friday. The company has a market capitalization of $190.87 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company’s 50 day moving average price is $439.71 and its two-hundred day moving average price is $491.24.

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

Analyst Ratings Changes

A number of brokerages have weighed in on ADBE. Mizuho dropped their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 15th. Bank of America decreased their price objective on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Redburn Atlantic started coverage on Adobe in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $570.88.

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.