Middleton & Co. Inc. MA Buys 1,798 Shares of Adobe Inc. (NASDAQ:ADBE)

Middleton & Co. Inc. MA boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,426 shares of the software company’s stock after acquiring an additional 1,798 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Adobe were worth $9,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe during the 3rd quarter worth about $26,000. Groupama Asset Managment increased its holdings in shares of Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after buying an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe in the 3rd quarter worth approximately $30,000. True Wealth Design LLC raised its position in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in Adobe during the 4th quarter worth about $31,000. 81.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company dropped their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $590.00 price target on shares of Adobe in a research note on Thursday, February 13th. Bank of America lowered their price objective on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, UBS Group cut their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $570.88.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $438.49 on Friday. The stock has a 50 day moving average of $439.71 and a 200-day moving average of $491.24. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The company has a market capitalization of $190.87 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data 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. The firm had revenue of $5.61 billion during 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 for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $3.52 earnings per share. As a group, equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by company insiders.

Adobe Company 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.