LWM Advisory Services LLC Purchases 76 Shares of Adobe Inc. (NASDAQ:ADBE)

LWM Advisory Services LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 644 shares of the software company’s stock after buying an additional 76 shares during the period. LWM Advisory Services LLC’s holdings in Adobe were worth $384,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. HBC Financial Services PLLC purchased a new position in shares of Adobe in the third quarter worth about $25,000. Global Wealth Strategies & Associates increased its stake in Adobe by 57.6% in the 3rd quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock worth $27,000 after purchasing an additional 19 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Adobe in the fourth quarter valued at approximately $35,000. BluePath Capital Management LLC bought a new position in shares of Adobe in the third quarter worth approximately $39,000. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Adobe in the third quarter worth $45,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ADBE shares. JPMorgan Chase & Co. decreased their price objective on shares of Adobe from $600.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. DA Davidson reiterated a “buy” rating and issued a $685.00 price objective on shares of Adobe in a report on Thursday, March 28th. BMO Capital Markets reiterated an “outperform” rating and issued a $610.00 price objective on shares of Adobe in a research report on Wednesday, March 27th. Evercore ISI reaffirmed an “outperform” rating and issued a $650.00 price target on shares of Adobe in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $630.00 price objective on shares of Adobe in a report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $620.72.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the transaction, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,940,160. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Anil Chakravarthy sold 100 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total transaction of $47,100.00. Following the completion of the sale, the insider now owns 33,609 shares of the company’s stock, valued at approximately $15,829,839. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 96 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at $1,940,160. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293 shares of company stock worth $137,656. Insiders own 0.15% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE traded down $4.49 during trading hours on Monday, hitting $473.07. The company’s stock had a trading volume of 2,953,374 shares, compared to its average volume of 3,491,388. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $211.94 billion, a P/E ratio of 45.74, a price-to-earnings-growth ratio of 2.59 and a beta of 1.28. The company’s 50 day simple moving average is $515.34 and its two-hundred day simple moving average is $564.66. Adobe Inc. has a 12 month low of $331.89 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.97 earnings per share. As a group, sell-side analysts expect that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe declared that its Board of Directors has initiated a share buyback plan 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 plans are often an indication that the company’s management believes its stock is undervalued.

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.