Cumberland Partners Ltd Has $1.04 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Cumberland Partners Ltd raised its position in shares of Adobe Inc. (NASDAQ:ADBEGet Rating) by 48.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,835 shares of the software company’s stock after purchasing an additional 600 shares during the quarter. Cumberland Partners Ltd’s holdings in Adobe were worth $1,040,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ADBE. Investment Research & Advisory Group Inc. lifted its stake in Adobe by 2,350.0% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 49 shares of the software company’s stock valued at $28,000 after buying an additional 47 shares during the period. Clear Investment Research LLC grew its stake in Adobe by 120.0% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the software company’s stock valued at $31,000 after acquiring an additional 30 shares during the period. Blue Bell Private Wealth Management LLC acquired a new stake in Adobe in the fourth quarter valued at approximately $33,000. Benjamin Edwards Inc. acquired a new stake in Adobe in the fourth quarter valued at approximately $35,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Adobe in the fourth quarter valued at approximately $36,000. 82.54% of the stock is owned by institutional investors and hedge funds.

Adobe stock traded up $1.23 during mid-day trading on Tuesday, reaching $404.09. The company’s stock had a trading volume of 37,034 shares, compared to its average volume of 3,180,660. Adobe Inc. has a 12-month low of $370.27 and a 12-month high of $699.54. The company has a market capitalization of $190.93 billion, a P/E ratio of 40.01, a PEG ratio of 2.10 and a beta of 1.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s fifty day moving average price is $426.85 and its two-hundred day moving average price is $514.61.

Adobe (NASDAQ:ADBEGet Rating) last released its quarterly earnings data on Tuesday, March 22nd. The software company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. Adobe had a net margin of 29.90% and a return on equity of 36.47%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $2.64 EPS. Adobe’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts predict that Adobe Inc. will post 11.09 EPS for the current fiscal year.

In other Adobe news, Director John E. Warnock sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $404.30, for a total value of $2,021,500.00. Following the completion of the transaction, the director now owns 405,165 shares of the company’s stock, valued at approximately $163,808,209.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 463 shares of the business’s stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $425.79, for a total transaction of $197,140.77. The disclosure for this sale can be found here. Insiders sold a total of 11,538 shares of company stock worth $4,793,387 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

ADBE has been the subject of a number of research reports. Jefferies Financial Group raised their price objective on Adobe from $550.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, March 23rd. Evercore ISI began coverage on Adobe in a research note on Wednesday, March 23rd. They issued a “buy” rating and a $650.00 price objective for the company. BNP Paribas began coverage on Adobe in a research note on Tuesday, March 29th. They issued an “outperform” rating and a $570.00 price objective for the company. StockNews.com downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on Adobe from $645.00 to $540.00 in a research note on Wednesday, March 23rd. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $587.75.

Adobe Company Profile (Get Rating)

Adobe Inc 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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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