Kavar Capital Partners Group LLC Has $2.94 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Kavar Capital Partners Group LLC increased its position in Adobe Inc. (NASDAQ:ADBE) by 21.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,665 shares of the software company’s stock after purchasing an additional 1,375 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in Adobe were worth $2,940,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ADBE. Norges Bank bought a new position in Adobe during the fourth quarter worth $2,553,035,000. GAMMA Investing LLC lifted its stake in shares of Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock worth $1,147,049,000 after buying an additional 2,984,391 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after buying an additional 1,041,513 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Adobe by 82.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company’s stock valued at $937,291,000 after buying an additional 952,233 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Adobe by 1,414.5% in the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company’s stock valued at $395,321,000 after acquiring an additional 830,300 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Mizuho reduced their price target on Adobe from $575.00 to $530.00 and set an “outperform” rating for the company in a research note on Friday, June 13th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $480.00 target price on shares of Adobe in a report on Thursday, June 5th. Finally, Jefferies Financial Group reduced their target price on shares of Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $496.75.

Adobe Stock Performance

NASDAQ ADBE opened at $387.55 on Thursday. The firm’s 50 day simple moving average is $391.76 and its 200 day simple moving average is $413.89. The firm has a market capitalization of $165.17 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 1.81 and a beta of 1.55. The company has a current ratio of 0.99, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the business posted $4.48 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.