Montag A & Associates Inc. raised its stake in shares of Adobe Inc (NASDAQ:ADBE) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,574 shares of the software company’s stock after purchasing an additional 3,681 shares during the quarter. Adobe accounts for about 1.1% of Montag A & Associates Inc.’s holdings, making the stock its 20th biggest holding. Montag A & Associates Inc.’s holdings in Adobe were worth $12,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Marquette Asset Management LLC lifted its holdings in shares of Adobe by 114.3% in the 2nd quarter. Marquette Asset Management LLC now owns 90 shares of the software company’s stock worth $27,000 after acquiring an additional 48 shares during the last quarter. JNBA Financial Advisors lifted its holdings in shares of Adobe by 666.7% in the 2nd quarter. JNBA Financial Advisors now owns 92 shares of the software company’s stock worth $27,000 after acquiring an additional 80 shares during the last quarter. Manchester Financial Inc. bought a new stake in shares of Adobe in the 2nd quarter worth approximately $28,000. Ellis Investment Partners LLC bought a new stake in shares of Adobe in the 2nd quarter worth approximately $30,000. Finally, JJJ Advisors Inc. bought a new stake in shares of Adobe in the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 86.60% of the company’s stock.

Adobe stock traded up $1.69 during mid-day trading on Friday, reaching $292.46. 1,628,400 shares of the company traded hands, compared to its average volume of 2,747,625. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.74. The firm’s 50 day moving average price is $274.89 and its 200 day moving average price is $284.28. The firm has a market capitalization of $140.04 billion, a price-to-earnings ratio of 52.70, a P/E/G ratio of 2.79 and a beta of 1.09. Adobe Inc has a 52-week low of $204.95 and a 52-week high of $313.11.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 17th. The software company reported $2.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.08. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.82 billion. Adobe had a net margin of 26.10% and a return on equity of 30.49%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 EPS. On average, sell-side analysts anticipate that Adobe Inc will post 6.39 EPS for the current year.

A number of brokerages have recently weighed in on ADBE. Nomura lowered their price objective on shares of Adobe from $315.00 to $310.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Stifel Nicolaus restated a “neutral” rating and issued a $325.00 price objective on shares of Adobe in a report on Wednesday, September 18th. Barclays lowered their price objective on shares of Adobe from $330.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Credit Suisse Group set a $325.00 price objective on shares of Adobe and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Cleveland Research assumed coverage on shares of Adobe in a report on Tuesday, October 15th. They issued a “neutral” rating and a $283.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $304.88.

In other Adobe news, CMO Ann Lewnes sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $274.34, for a total transaction of $823,020.00. Following the transaction, the chief marketing officer now directly owns 52,398 shares of the company’s stock, valued at approximately $14,374,867.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 9,000 shares of company stock worth $2,500,110. Insiders own 0.32% of the company’s stock.

Adobe Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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