Triangle Securities Wealth Management held its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,820 shares of the software company’s stock at the end of the second quarter. Triangle Securities Wealth Management’s holdings in Adobe Systems were worth $540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Guardian Life Insurance Co. of America increased its position in shares of Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock valued at $250,000 after buying an additional 13 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock valued at $387,000 after buying an additional 13 shares during the last quarter. Alpha Windward LLC increased its position in shares of Adobe Systems by 0.9% in the first quarter. Alpha Windward LLC now owns 1,655 shares of the software company’s stock valued at $215,000 after buying an additional 15 shares during the last quarter. Brown Advisory Securities LLC increased its position in Adobe Systems by 0.5% in the first quarter. Brown Advisory Securities LLC now owns 4,368 shares of the software company’s stock worth $569,000 after buying an additional 21 shares in the last quarter. Finally, HM Payson & Co. increased its position in Adobe Systems by 0.6% in the first quarter. HM Payson & Co. now owns 3,889 shares of the software company’s stock worth $506,000 after buying an additional 24 shares in the last quarter. Institutional investors own 88.05% of the company’s stock.

Shares of Adobe Systems Incorporated (ADBE) traded down 0.90% during mid-day trading on Tuesday, reaching $147.11. 402,202 shares of the company traded hands. The stock’s 50 day moving average is $144.12 and its 200 day moving average is $131.39. Adobe Systems Incorporated has a 52-week low of $97.15 and a 52-week high of $150.40. The stock has a market capitalization of $72.58 billion, a PE ratio of 51.24 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, analysts anticipate that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.

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A number of research firms have weighed in on ADBE. Royal Bank Of Canada reaffirmed a “buy” rating and set a $157.00 price target on shares of Adobe Systems in a research note on Monday, July 31st. Vetr raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $157.68 price target on the stock in a research note on Tuesday, July 18th. BidaskClub downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 4th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Adobe Systems in a research note on Monday, June 26th. Finally, KeyCorp reaffirmed a “buy” rating on shares of Adobe Systems in a research note on Sunday, June 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $153.20.

In related news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total transaction of $281,232.00. Following the transaction, the executive vice president now owns 59,991 shares in the company, valued at approximately $8,638,704. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donna Morris sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,519 shares of company stock worth $14,894,384. 0.38% of the stock is owned by insiders.

Adobe Systems Company Profile

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.

Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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