Private Wealth Partners LLC lifted its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,429 shares of the software company’s stock after purchasing an additional 359 shares during the period. Private Wealth Partners LLC’s holdings in Adobe Systems were worth $2,749,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. 1ST Source Bank boosted its holdings in shares of Adobe Systems by 0.3% during the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after purchasing an additional 6 shares during the period. Guardian Life Insurance Co. of America boosted its holdings in shares of Adobe Systems by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock worth $250,000 after purchasing an additional 13 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of Adobe Systems by 0.4% during the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after purchasing an additional 13 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Adobe Systems by 0.6% during the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after purchasing an additional 16 shares during the period. Finally, Bank of Stockton boosted its holdings in shares of Adobe Systems by 0.4% during the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after purchasing an additional 20 shares during the period. Institutional investors own 87.45% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) traded up $0.14 during mid-day trading on Monday, reaching $181.86. 654,077 shares of the company traded hands, compared to its average volume of 3,080,000. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $184.44. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $89,650.00, a PE ratio of 54.74, a P/E/G ratio of 3.09 and a beta of 1.05.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. analysts predict that Adobe Systems Incorporated will post 3.46 EPS for the current year.
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ADBE has been the subject of a number of analyst reports. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 16th. BMO Capital Markets restated an “outperform” rating and issued a $165.00 price objective on shares of Adobe Systems in a report on Thursday, September 21st. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the stock a “buy” rating in a report on Friday, October 6th. Royal Bank Of Canada restated a “buy” rating and issued a $157.00 price objective on shares of Adobe Systems in a report on Monday, July 31st. Finally, Barclays PLC raised their price objective on shares of Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Adobe Systems presently has a consensus rating of “Buy” and an average price target of $174.11.
In other news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total transaction of $304,433.64. Following the transaction, the executive vice president now owns 56,356 shares in the company, valued at approximately $8,784,773.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John E. Warnock sold 6,800 shares of Adobe Systems stock in a transaction on Friday, October 20th. The stock was sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the transaction, the director now owns 16,088 shares in the company, valued at approximately $2,802,529.60. The disclosure for this sale can be found here. Insiders sold 14,849 shares of company stock worth $2,519,679 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.
About Adobe Systems
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
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