Royal Fund Management LLC Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Royal Fund Management LLC boosted its position in Adobe Inc. (NASDAQ:ADBE) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,533 shares of the software company’s stock after acquiring an additional 53 shares during the quarter. Royal Fund Management LLC’s holdings in Adobe were worth $2,460,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ADBE. Sugar Maple Asset Management LLC acquired a new position in Adobe during the fourth quarter worth $127,000. Pure Financial Advisors LLC boosted its position in shares of Adobe by 79.7% during the 4th quarter. Pure Financial Advisors LLC now owns 1,953 shares of the software company’s stock worth $869,000 after purchasing an additional 866 shares in the last quarter. Addenda Capital Inc. grew its stake in shares of Adobe by 7.5% during the 4th quarter. Addenda Capital Inc. now owns 28,227 shares of the software company’s stock worth $12,552,000 after purchasing an additional 1,970 shares during the period. CMH Wealth Management LLC increased its holdings in shares of Adobe by 35.8% in the 4th quarter. CMH Wealth Management LLC now owns 17,756 shares of the software company’s stock valued at $7,896,000 after purchasing an additional 4,678 shares in the last quarter. Finally, Ulland Investment Advisors LLC lifted its stake in shares of Adobe by 576.0% in the fourth quarter. Ulland Investment Advisors LLC now owns 338 shares of the software company’s stock valued at $150,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.7 %

Shares of NASDAQ:ADBE opened at $429.99 on Tuesday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. The stock’s 50-day moving average price is $476.55 and its two-hundred day moving average price is $512.03. The company has a current ratio of 1.07, a quick ratio of 1.11 and a debt-to-equity ratio of 0.29. The firm has a market cap of $189.28 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 1.97 and a beta of 1.31.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADBE. BMO Capital Markets lowered their target price on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Sanford C. Bernstein lowered their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. StockNews.com cut Adobe from a “strong-buy” rating to a “buy” rating in a report on Monday. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Finally, Stifel Nicolaus dropped their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Insider Activity

In related news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,763 shares of company stock valued at $893,665 in the last ninety days. Company insiders own 0.15% of the company’s stock.

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.