Adobe Systems Incorporated (ADBE) Stake Increased by AE Wealth Management LLC
AE Wealth Management LLC grew its stake in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 24.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,953 shares of the software company’s stock after acquiring an additional 378 shares during the quarter. AE Wealth Management LLC’s holdings in Adobe Systems were worth $291,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Morgan Stanley raised its holdings in shares of Adobe Systems by 52.2% during the 1st quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock worth $211,367,000 after buying an additional 557,169 shares in the last quarter. BlackRock Inc. increased its holdings in Adobe Systems by 1,894.1% in the 1st quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after purchasing an additional 30,228,013 shares in the last quarter. OZ Management LP acquired a new position in Adobe Systems in the 1st quarter worth about $9,369,000. United Capital Financial Advisers LLC increased its holdings in Adobe Systems by 5.8% in the 1st quarter. United Capital Financial Advisers LLC now owns 34,897 shares of the software company’s stock worth $4,541,000 after purchasing an additional 1,902 shares in the last quarter. Finally, Invictus RG acquired a new position in Adobe Systems in the 1st quarter worth about $676,000. Hedge funds and other institutional investors own 87.21% of the company’s stock.
Adobe Systems Incorporated (NASDAQ:ADBE) traded up $1.81 on Wednesday, hitting $184.15. The stock had a trading volume of 2,036,500 shares, compared to its average volume of 2,407,756. The stock has a market capitalization of $89,883.23, a P/E ratio of 54.92, a P/E/G ratio of 3.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. Adobe Systems Incorporated has a 1 year low of $98.00 and a 1 year high of $185.55.
Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. analysts expect that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $155.88, for a total transaction of $304,433.64. Following the sale, the executive vice president now directly owns 56,356 shares of the company’s stock, valued at approximately $8,784,773.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is owned by company insiders.
A number of equities research analysts have commented on ADBE shares. Zacks Investment Research lowered Adobe Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 14th. Vetr lowered Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price on the stock. in a research report on Thursday, August 31st. Robert W. Baird set a $160.00 price target on Adobe Systems and gave the stock a “buy” rating in a report on Friday, October 6th. Royal Bank Of Canada reiterated a “buy” rating and issued a $157.00 price target on shares of Adobe Systems in a report on Monday, July 31st. Finally, Bank of America Corporation increased their price target on Adobe Systems from $108.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, August 25th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. Adobe Systems presently has an average rating of “Buy” and a consensus target price of $175.43.
Adobe Systems 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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