5,580 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Andrew Hill Investment Advisors Inc.

Andrew Hill Investment Advisors Inc. purchased a new position in Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,580 shares of the software company’s stock, valued at approximately $3,329,000. Adobe makes up 3.5% of Andrew Hill Investment Advisors Inc.’s portfolio, making the stock its 12th largest position.

Several other large investors have also modified their holdings of ADBE. Iron Horse Wealth Management LLC purchased a new stake in shares of Adobe in the third quarter valued at approximately $25,000. HBC Financial Services PLLC purchased a new stake in shares of Adobe in the third quarter valued at approximately $25,000. Global Wealth Strategies & Associates boosted its holdings in shares of Adobe by 57.6% in the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock valued at $27,000 after purchasing an additional 19 shares during the period. Financial Freedom LLC purchased a new stake in shares of Adobe in the fourth quarter valued at approximately $29,000. Finally, Fortis Capital Advisors LLC bought a new position in Adobe in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ADBE shares. Bank of America reduced their price objective on shares of Adobe from $700.00 to $640.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Robert W. Baird reduced their price objective on shares of Adobe from $590.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. BMO Capital Markets reissued an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a research note on Wednesday, March 27th. Mizuho reissued a “buy” rating and issued a $680.00 price objective on shares of Adobe in a research note on Wednesday, March 27th. Finally, HSBC reduced their price objective on shares of Adobe from $557.00 to $511.00 and set a “hold” rating for the company in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $620.72.

Insider Activity at Adobe

In related news, CAO Mark S. Garfield sold 788 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $615.42, for a total value of $484,950.96. Following the transaction, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at $2,495,528.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Adobe news, CAO Mark S. Garfield sold 96 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the transaction, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,940,160. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 788 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $615.42, for a total value of $484,950.96. Following the transaction, the chief accounting officer now directly owns 4,055 shares in the company, valued at approximately $2,495,528.10. The disclosure for this sale can be found here. Insiders have sold 3,075 shares of company stock valued at $1,848,418 over the last quarter. 0.15% of the stock is owned by insiders.

Adobe Trading Down 1.5 %

Shares of NASDAQ:ADBE traded down $7.15 during mid-day trading on Friday, reaching $466.03. 943,740 shares of the company were exchanged, compared to its average volume of 3,540,554. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s 50-day simple moving average is $530.33 and its 200 day simple moving average is $566.32. Adobe Inc. has a 1 year low of $331.89 and a 1 year high of $638.25. The firm has a market cap of $208.78 billion, a price-to-earnings ratio of 45.02, a P/E/G ratio of 2.57 and a beta of 1.28.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 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 analysts’ expectations of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.97 earnings per share. Equities research analysts forecast that Adobe Inc. will post 14.55 EPS for the current year.

Adobe declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the software company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.