Field & Main Bank Has $2.06 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Field & Main Bank lessened its position in Adobe Inc. (NASDAQ:ADBE) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,580 shares of the software company’s stock after selling 50 shares during the quarter. Adobe makes up about 1.4% of Field & Main Bank’s portfolio, making the stock its 16th biggest position. Field & Main Bank’s holdings in Adobe were worth $2,061,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ADBE. Ten Capital Wealth Advisors LLC raised its holdings in shares of Adobe by 5.9% during the 2nd quarter. Ten Capital Wealth Advisors LLC now owns 289 shares of the software company’s stock worth $169,000 after buying an additional 16 shares in the last quarter. Reilly Financial Advisors LLC raised its position in Adobe by 1.2% in the second quarter. Reilly Financial Advisors LLC now owns 1,467 shares of the software company’s stock valued at $859,000 after purchasing an additional 17 shares during the last quarter. Beaumont Financial Partners LLC raised its position in Adobe by 1.0% in the second quarter. Beaumont Financial Partners LLC now owns 1,742 shares of the software company’s stock valued at $1,023,000 after purchasing an additional 17 shares during the last quarter. EPG Wealth Management LLC boosted its stake in shares of Adobe by 1.6% during the second quarter. EPG Wealth Management LLC now owns 1,054 shares of the software company’s stock valued at $617,000 after purchasing an additional 17 shares in the last quarter. Finally, Windward Capital Management Co. CA grew its holdings in shares of Adobe by 1.2% during the second quarter. Windward Capital Management Co. CA now owns 1,477 shares of the software company’s stock worth $865,000 after purchasing an additional 18 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors and hedge funds.

ADBE has been the topic of several recent research reports. Jefferies Financial Group lifted their target price on shares of Adobe from $750.00 to $760.00 and gave the stock a “buy” rating in a research report on Wednesday, September 22nd. Wells Fargo & Company reiterated a “buy” rating and set a $770.00 target price on shares of Adobe in a research report on Thursday, October 21st. Morgan Stanley lifted their target price on shares of Adobe from $610.00 to $736.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their target price on shares of Adobe from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 22nd. Finally, Argus lifted their target price on shares of Adobe from $650.00 to $764.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Five investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, Adobe has a consensus rating of “Buy” and an average price target of $693.80.

In related news, EVP Gloria Chen sold 42 shares of the business’s stock in a transaction dated Wednesday, November 24th. The shares were sold at an average price of $654.73, for a total value of $27,498.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Ann Lewnes sold 582 shares of the business’s stock in a transaction dated Tuesday, October 26th. The stock was sold at an average price of $650.91, for a total transaction of $378,829.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,155 shares of company stock valued at $27,445,489. Company insiders own 0.23% of the company’s stock.

ADBE stock traded up $3.16 during midday trading on Thursday, reaching $668.32. 2,426,171 shares of the company’s stock traded hands, compared to its average volume of 2,221,317. The company has a market cap of $318.39 billion, a price-to-earnings ratio of 55.28, a P/E/G ratio of 3.43 and a beta of 1.05. The firm’s fifty day moving average price is $630.58 and its 200-day moving average price is $602.04. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 52 week low of $420.78 and a 52 week high of $699.54.

Adobe (NASDAQ:ADBE) last posted its earnings results on Monday, September 20th. The software company reported $3.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.10. Adobe had a net margin of 38.67% and a return on equity of 35.95%. The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the prior year, the business posted $2.12 EPS. The business’s revenue was up 22.0% compared to the same quarter last year. Analysts forecast that Adobe Inc. will post 10.52 earnings per share for the current year.

Adobe Profile

Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

See Also: Why is total return important?

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE).

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.