Davidson & Garrard Inc. Has $263,000 Holdings in Adobe Systems Incorporated (ADBE)
Davidson & Garrard Inc. continued to hold its stake in Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,860 shares of the software company’s stock at the end of the second quarter. Davidson & Garrard Inc.’s holdings in Adobe Systems were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Clean Yield Group bought a new stake in shares of Adobe Systems during the 1st quarter valued at $100,000. Capital Advisors Ltd. LLC bought a new stake in shares of Adobe Systems during the 2nd quarter valued at $100,000. CWM LLC lifted its position in shares of Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after acquiring an additional 79 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in shares of Adobe Systems during the 1st quarter valued at $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of Adobe Systems by 86.2% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after acquiring an additional 500 shares during the period. 87.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the company. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Vetr downgraded Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 target price for the company. in a research report on Thursday, May 25th. Barclays PLC upped their target price on Adobe Systems from $155.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Stifel Nicolaus upped their target price on Adobe Systems from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Finally, Piper Jaffray Companies upped their target price on Adobe Systems from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $153.88.
In other news, CMO Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total value of $286,466.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John E. Warnock sold 32,600 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $144.07, for a total value of $4,696,682.00. Following the completion of the sale, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,317,798.16. The disclosure for this sale can be found here. In the last three months, insiders sold 100,006 shares of company stock valued at $14,566,440. 0.38% of the stock is currently owned by corporate insiders.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at 156.24 on Thursday. Adobe Systems Incorporated has a 52 week low of $98.00 and a 52 week high of $157.89. The firm has a market cap of $77.09 billion, a PE ratio of 54.42 and a beta of 1.00. The stock has a 50 day moving average price of $150.45 and a 200 day moving average price of $138.85.
Adobe Systems (NASDAQ:ADBE) last released its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.71 EPS. Adobe Systems’s revenue for the quarter was up 26.7% on a year-over-year basis. Equities analysts expect that Adobe Systems Incorporated will post $4.06 earnings per share for the current year.
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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.
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