Breton Hill Capital Ltd. Boosts Holdings in Adobe Systems Incorporated (ADBE)
Breton Hill Capital Ltd. boosted its stake in Adobe Systems Incorporated (NASDAQ:ADBE) by 20.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,912 shares of the software company’s stock after purchasing an additional 987 shares during the quarter. Breton Hill Capital Ltd.’s holdings in Adobe Systems were worth $882,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Aviva PLC lifted its stake in shares of Adobe Systems by 0.4% in the second quarter. Aviva PLC now owns 312,394 shares of the software company’s stock valued at $44,194,000 after buying an additional 1,250 shares in the last quarter. Bender Robert & Associates bought a new position in shares of Adobe Systems in the third quarter valued at $3,476,000. Morgan Stanley lifted its stake in shares of Adobe Systems by 52.2% in the first quarter. Morgan Stanley now owns 1,624,287 shares of the software company’s stock valued at $211,367,000 after buying an additional 557,169 shares in the last quarter. Arcadia Investment Management Corp MI lifted its stake in shares of Adobe Systems by 6.9% in the second quarter. Arcadia Investment Management Corp MI now owns 34,547 shares of the software company’s stock valued at $4,886,000 after buying an additional 2,242 shares in the last quarter. Finally, BARING ASSET MANAGEMENT Ltd lifted its stake in shares of Adobe Systems by 12.0% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 26,699 shares of the software company’s stock valued at $3,776,000 after buying an additional 2,864 shares in the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
A number of research firms have weighed in on ADBE. Stifel Nicolaus raised their price objective on shares of Adobe Systems from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Friday. Vetr raised shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $172.83 price objective on the stock in a research note on Thursday, November 2nd. UBS AG began coverage on shares of Adobe Systems in a research note on Thursday. They issued a “buy” rating and a $217.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Adobe Systems in a research note on Wednesday, September 20th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $170.00 price objective (up from $165.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. Seven investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $173.56.
In related news, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the completion of the transaction, the director now owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total transaction of $297,031.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,849 shares of company stock valued at $2,519,679. 0.38% of the stock is owned by corporate insiders.
Shares of Adobe Systems Incorporated (ADBE) traded down $0.20 during trading hours on Friday, reaching $181.72. 2,063,218 shares of the company traded hands, compared to its average volume of 3,456,833. The stock has a market capitalization of $89,676.19, a PE ratio of 54.79, a P/E/G ratio of 3.09 and a beta of 1.05. Adobe Systems Incorporated has a 12 month low of $98.00 and a 12 month high of $184.44. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. Adobe Systems’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 earnings per share. equities analysts anticipate that Adobe Systems Incorporated will post 3.46 earnings per share for the current year.
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.
Receive News & Stock Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related stocks with our FREE daily email newsletter.