YHB Investment Advisors Inc. Buys 149 Shares of Adobe Inc. (NASDAQ:ADBE)

YHB Investment Advisors Inc. lifted its stake in Adobe Inc. (NASDAQ:ADBEGet Rating) by 12.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,390 shares of the software company’s stock after acquiring an additional 149 shares during the period. YHB Investment Advisors Inc.’s holdings in Adobe were worth $509,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ADBE. Shorepoint Capital Partners LLC boosted its stake in Adobe by 1.0% during the fourth quarter. Shorepoint Capital Partners LLC now owns 2,166 shares of the software company’s stock valued at $1,228,000 after buying an additional 22 shares during the period. Capital Advisory Group Advisory Services LLC raised its position in Adobe by 2.4% during the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 964 shares of the software company’s stock valued at $547,000 after purchasing an additional 23 shares in the last quarter. Cooper Financial Group raised its position in Adobe by 1.4% during the first quarter. Cooper Financial Group now owns 1,698 shares of the software company’s stock valued at $774,000 after purchasing an additional 24 shares in the last quarter. Evanson Asset Management LLC raised its position in Adobe by 1.4% during the first quarter. Evanson Asset Management LLC now owns 1,875 shares of the software company’s stock valued at $854,000 after purchasing an additional 25 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position in Adobe by 23.6% during the first quarter. Sound Income Strategies LLC now owns 131 shares of the software company’s stock valued at $60,000 after purchasing an additional 25 shares in the last quarter. 80.75% of the stock is owned by institutional investors.

Insider Transactions at Adobe

In other news, CMO Ann Lewnes sold 794 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $400.00, for a total value of $317,600.00. Following the sale, the chief marketing officer now directly owns 23,988 shares of the company’s stock, valued at approximately $9,595,200. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CMO Ann Lewnes sold 794 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $400.00, for a total value of $317,600.00. Following the completion of the transaction, the chief marketing officer now directly owns 23,988 shares in the company, valued at approximately $9,595,200. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 132 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $294.54, for a total transaction of $38,879.28. Following the completion of the transaction, the chief accounting officer now owns 2,596 shares of the company’s stock, valued at $764,625.84. The disclosure for this sale can be found here. Insiders have sold a total of 3,769 shares of company stock valued at $1,477,562 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ADBE shares. Mizuho lowered their price target on Adobe from $440.00 to $360.00 in a research report on Friday, September 16th. Stifel Nicolaus lowered their price target on Adobe from $500.00 to $375.00 and set a “buy” rating on the stock in a research report on Friday, September 16th. Robert W. Baird downgraded Adobe from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $450.00 to $355.00 in a research report on Friday, September 16th. Barclays downgraded Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $440.00 to $340.00 in a report on Friday, September 16th. Finally, BMO Capital Markets decreased their price objective on Adobe from $435.00 to $345.00 in a report on Friday, September 16th. Sixteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $427.11.

Adobe Stock Performance

Adobe stock opened at $287.06 on Friday. The stock’s 50 day simple moving average is $389.95 and its two-hundred day simple moving average is $403.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.07 and a current ratio of 1.14. The stock has a market cap of $134.34 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 1.95 and a beta of 1.14. Adobe Inc. has a fifty-two week low of $280.06 and a fifty-two week high of $699.54.

Adobe (NASDAQ:ADBEGet Rating) last issued its quarterly earnings results on Thursday, September 15th. The software company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.07. Adobe had a return on equity of 36.49% and a net margin of 28.00%. The firm had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the previous year, the firm posted $2.65 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, analysts expect that Adobe Inc. will post 11.1 earnings per share for the current fiscal year.

Adobe Profile

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Adobe Inc 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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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