Fourth Dimension Wealth LLC Invests $67,000 in Adobe Inc. (NASDAQ:ADBE)

Fourth Dimension Wealth LLC purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 150 shares of the software company’s stock, valued at approximately $67,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Breed s Hill Capital LLC purchased a new position in Adobe during the 4th quarter worth $519,000. Vise Technologies Inc. lifted its position in Adobe by 12.0% during the 4th quarter. Vise Technologies Inc. now owns 9,566 shares of the software company’s stock worth $4,254,000 after acquiring an additional 1,026 shares during the period. Northwest Bank & Trust Co lifted its position in Adobe by 2.2% during the 4th quarter. Northwest Bank & Trust Co now owns 1,799 shares of the software company’s stock worth $800,000 after acquiring an additional 39 shares during the period. Headinvest LLC lifted its holdings in shares of Adobe by 9.9% in the 4th quarter. Headinvest LLC now owns 5,118 shares of the software company’s stock valued at $2,276,000 after buying an additional 460 shares during the period. Finally, City National Bank of Florida MSD acquired a new position in shares of Adobe in the 4th quarter valued at about $506,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of analyst reports. Bank of America reduced their price target on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Stifel Nicolaus decreased their price target on Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Robert W. Baird reduced their price objective on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Wells Fargo & Company dropped their target price on Adobe from $600.00 to $430.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $502.88.

Insider Transactions at Adobe

In other news, CFO Daniel Durn acquired 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Adobe Price Performance

NASDAQ:ADBE opened at $407.69 on Friday. The company has a 50-day moving average of $377.13 and a 200-day moving average of $431.95. The company has a market capitalization of $173.76 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. 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 (NASDAQ:ADBE) last announced 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the firm posted $4.48 EPS. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe 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.