Adobe Inc. (NASDAQ:ADBE) Stock Position Raised by Mizuho Securities Co. Ltd.

Mizuho Securities Co. Ltd. lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 107.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 890 shares of the software company’s stock after acquiring an additional 460 shares during the quarter. Adobe accounts for 1.9% of Mizuho Securities Co. Ltd.’s portfolio, making the stock its 16th largest holding. Mizuho Securities Co. Ltd.’s holdings in Adobe were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of ADBE. Iron Horse Wealth Management LLC acquired a new stake in shares of Adobe in the third quarter worth $25,000. HBC Financial Services PLLC acquired a new stake in shares of Adobe in the third quarter worth $25,000. Global Wealth Strategies & Associates boosted its position in shares of Adobe by 57.6% in the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock worth $27,000 after buying an additional 19 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Adobe in the fourth quarter worth $35,000. Finally, BluePath Capital Management LLC acquired a new stake in Adobe during the third quarter valued at $39,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of research reports. HSBC reduced their price objective on Adobe from $557.00 to $511.00 and set a “hold” rating for the company in a research report on Friday, March 15th. Royal Bank of Canada reissued an “outperform” rating and set a $630.00 price objective on shares of Adobe in a research report on Wednesday, March 27th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Thursday, March 28th. Wells Fargo & Company reduced their price objective on Adobe from $690.00 to $675.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Finally, Stifel Nicolaus reduced their price objective on Adobe from $650.00 to $625.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $620.72.

Adobe Stock Performance

ADBE traded up $6.01 on Tuesday, hitting $472.90. 2,200,448 shares of the stock traded hands, compared to its average volume of 3,540,307. Adobe Inc. has a 52 week low of $331.89 and a 52 week high of $638.25. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $211.86 billion, a PE ratio of 45.21, a P/E/G ratio of 2.52 and a beta of 1.28. The business has a fifty day moving average price of $521.61 and a two-hundred day moving average price of $565.95.

Adobe (NASDAQ:ADBE) last issued its quarterly 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. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the company posted $2.97 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts predict that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe declared that its Board of Directors has approved a stock repurchase program on Thursday, March 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, EVP Scott Belsky sold 2,191 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total value of $1,318,346.61. Following the sale, the executive vice president now directly owns 23,508 shares in the company, valued at approximately $14,144,998.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Scott Belsky sold 2,191 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total value of $1,318,346.61. Following the sale, the executive vice president now directly owns 23,508 shares in the company, valued at approximately $14,144,998.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the sale, the chief accounting officer now 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 have sold 3,175 shares of company stock worth $1,895,518. Company 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.