D L Carlson Investment Group Inc. Reduces Position in Adobe Inc. (NASDAQ:ADBE)

D L Carlson Investment Group Inc. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,543 shares of the software company’s stock after selling 78 shares during the quarter. D L Carlson Investment Group Inc.’s holdings in Adobe were worth $1,131,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADBE. AIA Group Ltd acquired a new stake in shares of Adobe during the 4th quarter worth approximately $923,000. FSB Premier Wealth Management Inc. increased its position in shares of Adobe by 14.8% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 697 shares of the software company’s stock valued at $310,000 after buying an additional 90 shares in the last quarter. Prevail Innovative Wealth Advisors LLC raised its stake in shares of Adobe by 204.6% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 7,033 shares of the software company’s stock worth $3,127,000 after buying an additional 4,724 shares during the period. United Bank grew its stake in Adobe by 36.2% in the 4th quarter. United Bank now owns 3,535 shares of the software company’s stock valued at $1,572,000 after acquiring an additional 939 shares during the period. Finally, IPG Investment Advisors LLC acquired a new position in Adobe during the fourth quarter worth $222,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 2.6 %

Shares of ADBE stock opened at $385.71 on Monday. The stock has a market capitalization of $164.39 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two 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 has a 50 day moving average price of $431.81 and a 200 day moving average price of $468.92.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the business earned $4.48 earnings per share. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADBE. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Wells Fargo & Company decreased their target price on Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Morgan Stanley decreased their price objective on Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. dropped their target price on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Barclays lowered 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. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $533.85.

Insider Activity

In other news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David A. Ricks bought 2,250 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last ninety days. 0.16% of the stock is currently owned by company insiders.

Adobe 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.