Sabal Trust CO Has $2.16 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Sabal Trust CO raised its stake in Adobe Inc. (NASDAQ:ADBE) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,627 shares of the software company’s stock after purchasing an additional 500 shares during the quarter. Sabal Trust CO’s holdings in Adobe were worth $2,158,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Siemens Fonds Invest GmbH increased its holdings in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after buying an additional 39,888 shares during the last quarter. SWAN Capital LLC bought a new position in shares of Adobe in the 4th quarter valued at about $28,000. Copia Wealth Management acquired a new position in shares of Adobe during the 4th quarter worth about $28,000. Summit Securities Group LLC bought a new stake in shares of Adobe in the 4th quarter valued at about $31,000. Finally, Garde Capital Inc. acquired a new stake in Adobe in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ADBE shares. Royal Bank Of Canada restated an “outperform” rating and issued a $480.00 price objective on shares of Adobe in a research note on Thursday, June 5th. BMO Capital Markets reissued an “outperform” rating and set a $450.00 target price on shares of Adobe in a report on Friday, June 13th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Robert W. Baird lifted their price objective on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Finally, Evercore ISI reissued an “outperform” rating and issued a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $496.75.

Adobe Stock Up 1.4%

Shares of NASDAQ ADBE opened at $387.55 on Thursday. The stock has a market capitalization of $165.17 billion, a P/E ratio of 24.80, a PEG ratio of 1.81 and a beta of 1.55. The stock’s fifty day moving average is $391.76 and its 200 day moving average is $413.89. 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 0.54, a quick ratio of 1.18 and a current ratio of 0.99.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the firm earned $4.48 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts forecast 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.