Adobe Systems Incorporated (ADBE) Stake Lowered by Family Capital Trust Co
Family Capital Trust Co lessened its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 494,348 shares of the software company’s stock after selling 17,485 shares during the period. Adobe Systems accounts for 37.3% of Family Capital Trust Co’s investment portfolio, making the stock its largest position. Family Capital Trust Co owned about 0.10% of Adobe Systems worth $73,747,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC purchased a new stake in Adobe Systems during the 2nd quarter worth about $100,000. CWM LLC lifted its holdings in Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after purchasing an additional 79 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in 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 worth $141,000 after purchasing an additional 500 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Adobe Systems during the 2nd quarter worth about $141,000. Finally, Acrospire Investment Management LLC lifted its holdings in Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after purchasing an additional 500 shares in the last quarter. 87.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded down 1.3890% during mid-day trading on Monday, hitting $173.2004. The company had a trading volume of 1,333,578 shares. The firm has a 50-day moving average price of $153.06 and a 200 day moving average price of $144.36. Adobe Systems Incorporated has a 52-week low of $98.00 and a 52-week high of $175.87. The firm has a market capitalization of $85.38 billion, a price-to-earnings ratio of 54.4484 and a beta of 0.98.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results 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. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Analysts expect that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.
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In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total value of $297,031.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 5,859 shares of company stock valued at $887,931. Insiders own 0.38% of the company’s stock.
A number of analysts recently issued reports on the company. Vetr cut Adobe Systems from a “hold” rating to a “strong sell” rating and set a $152.41 price objective on the stock. in a report on Thursday. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $190.00 price objective (up previously from $153.00) on shares of Adobe Systems in a report on Thursday. Barclays PLC increased their price objective on Adobe Systems from $167.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday. Bank of America Corporation increased their price objective on Adobe Systems from $184.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Citigroup Inc. increased their price objective on Adobe Systems from $163.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $168.59.
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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