Ramsay Stattman Vela & Price Inc. Purchases 175 Shares of Adobe Inc. (NASDAQ:ADBE)

Ramsay Stattman Vela & Price Inc. boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,560 shares of the software company’s stock after purchasing an additional 175 shares during the quarter. Ramsay Stattman Vela & Price Inc.’s holdings in Adobe were worth $5,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ADBE. Swedbank AB raised its position in shares of Adobe by 0.3% during the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after purchasing an additional 3,739 shares during the period. Vest Financial LLC lifted its stake in Adobe by 217.2% in the third quarter. Vest Financial LLC now owns 2,281 shares of the software company’s stock valued at $1,181,000 after buying an additional 1,562 shares in the last quarter. Compass Ion Advisors LLC acquired a new position in shares of Adobe in the third quarter valued at approximately $285,000. Godsey & Gibb Inc. boosted its holdings in shares of Adobe by 9.2% in the third quarter. Godsey & Gibb Inc. now owns 284 shares of the software company’s stock valued at $147,000 after buying an additional 24 shares during the period. Finally, Violich Capital Management Inc. increased its position in shares of Adobe by 0.5% during the third quarter. Violich Capital Management Inc. now owns 4,776 shares of the software company’s stock worth $2,473,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the sale, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADBE. Sanford C. Bernstein decreased their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Bank of America lowered their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Jefferies Financial Group decreased their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Trading Up 0.2 %

Shares of Adobe stock opened at $460.16 on Tuesday. The company has a 50 day simple moving average of $446.56 and a two-hundred day simple moving average of $496.20. The firm has a market cap of $200.31 billion, a PE ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $607.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

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

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.