Columbia Trust Co 01012016 Buys 355 Shares of Adobe Inc. (NASDAQ:ADBE)

Columbia Trust Co 01012016 raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 15.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,684 shares of the software company’s stock after purchasing an additional 355 shares during the period. Columbia Trust Co 01012016’s holdings in Adobe were worth $1,601,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Adobe during the fourth quarter valued at approximately $1,757,029,000. Moneta Group Investment Advisors LLC boosted its position in shares of Adobe by 115,991.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,248,225 shares of the software company’s stock valued at $1,093,125,000 after acquiring an additional 3,245,427 shares during the last quarter. Concentrum Wealth Management lifted its position in Adobe by 17,006.8% during the third quarter. Concentrum Wealth Management now owns 2,161,614 shares of the software company’s stock valued at $1,102,207,000 after purchasing an additional 2,148,978 shares during the last quarter. Morgan Stanley lifted its position in Adobe by 17.7% during the fourth quarter. Morgan Stanley now owns 9,804,275 shares of the software company’s stock valued at $3,299,433,000 after purchasing an additional 1,471,861 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Adobe by 25.1% during the third quarter. Invesco Ltd. now owns 4,438,805 shares of the software company’s stock valued at $2,263,347,000 after purchasing an additional 889,607 shares during the last quarter. Institutional investors own 80.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. KGI Securities raised shares of Adobe from a “neutral” rating to an “outperform” rating and set a $730.00 price target for the company in a report on Monday, December 4th. Robert W. Baird lowered their price objective on Adobe from $590.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Wells Fargo & Company lowered their price objective on Adobe from $690.00 to $675.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Piper Sandler lowered their price target on Adobe from $705.00 to $700.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Finally, Barclays lowered their price target on Adobe from $700.00 to $630.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $620.72.

Adobe Stock Up 0.1 %

Shares of NASDAQ:ADBE traded up $0.37 during trading hours on Tuesday, hitting $507.60. The company’s stock had a trading volume of 2,809,819 shares, compared to its average volume of 3,668,397. Adobe Inc. has a 52 week low of $331.89 and a 52 week high of $638.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.34. The company has a market capitalization of $229.71 billion, a price-to-earnings ratio of 48.53, a P/E/G ratio of 2.70 and a beta of 1.29. The firm’s fifty day moving average price is $575.19 and its 200 day moving average price is $571.94.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.38 by $0.10. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.97 EPS. As a group, research analysts expect that Adobe Inc. will post 14.57 EPS for the current year.

Adobe announced that its board has approved a stock buyback program on Thursday, March 14th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 2,191 shares of Adobe stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $601.71, for a total value of $1,318,346.61. Following the transaction, the executive vice president now directly owns 23,508 shares of the company’s stock, valued at $14,144,998.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Scott Belsky sold 2,191 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total transaction of $1,318,346.61. Following the transaction, the executive vice president now directly owns 23,508 shares of the company’s stock, valued at approximately $14,144,998.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Wadhwani sold 6,099 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $571.77, for a total value of $3,487,225.23. Following the transaction, the insider now directly owns 7,614 shares in the company, valued at $4,353,456.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,162 shares of company stock worth $5,340,250. Corporate insiders own 0.15% of the company’s stock.

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.