Wellington Shields Capital Management LLC Acquires 100 Shares of Adobe Inc. (NASDAQ:ADBE)

Wellington Shields Capital Management LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 75.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233 shares of the software company’s stock after purchasing an additional 100 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Adobe were worth $104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the 3rd quarter worth approximately $26,000. Groupama Asset Managment lifted its position in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Adobe during the 3rd quarter valued at $30,000. True Wealth Design LLC grew its stake in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. bought a new stake in Adobe in the 4th quarter valued at about $31,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADBE. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research note on Wednesday, January 15th. DA Davidson dropped their target price on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. UBS Group reduced their price target on Adobe from $475.00 to $460.00 and set a “neutral” rating for the company in a research report on Thursday. Robert W. Baird dropped their price objective on Adobe from $500.00 to $490.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $539.46.

Insiders Place Their Bets

In other news, Director David A. Ricks bought 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares in the company, valued at $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last ninety days. Company insiders own 0.16% of the company’s stock.

Adobe Price Performance

Shares of Adobe stock opened at $394.74 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. The company has a fifty day moving average of $437.03 and a 200-day moving average of $482.65. The stock has a market capitalization of $171.87 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the prior year, the business posted $4.48 earnings per share. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.