Quotient Wealth Partners LLC Buys 356 Shares of Adobe Inc. (NASDAQ:ADBE)

Quotient Wealth Partners LLC boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 16.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,468 shares of the software company’s stock after purchasing an additional 356 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Adobe were worth $947,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Siemens Fonds Invest GmbH lifted its position in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after buying an additional 39,888 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe during the first quarter valued at $26,000. SWAN Capital LLC purchased a new position in Adobe during the fourth quarter valued at $28,000. Copia Wealth Management purchased a new position in Adobe during the fourth quarter valued at $28,000. Finally, Summit Securities Group LLC purchased a new position in Adobe during the fourth quarter valued at $31,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and issued a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $480.00 price target on shares of Adobe in a research report on Thursday, June 5th. Stifel Nicolaus lowered their price target on Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research report on Friday, June 13th. Summit Redstone set a $410.00 price target on Adobe in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lowered their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $480.08.

Adobe Price Performance

Shares of ADBE stock traded down $2.71 during mid-day trading on Wednesday, hitting $379.53. The company had a trading volume of 368,029 shares, compared to its average volume of 3,424,447. The company has a market capitalization of $161.00 billion, a P/E ratio of 24.40, a P/E/G ratio of 1.79 and a beta of 1.51. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The stock’s 50 day moving average price is $396.48 and its 200-day moving average price is $407.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $4.48 EPS. Equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

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.