Physicians Financial Services Inc. Buys 353 Shares of Adobe Inc. (NASDAQ:ADBE)

Physicians Financial Services Inc. grew its position in Adobe Inc. (NASDAQ:ADBE) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,349 shares of the software company’s stock after purchasing an additional 353 shares during the period. Adobe comprises about 1.0% of Physicians Financial Services Inc.’s portfolio, making the stock its 28th largest position. Physicians Financial Services Inc.’s holdings in Adobe were worth $3,268,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its position in shares of Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after buying an additional 1,376,333 shares during the period. FMR LLC boosted its position in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after purchasing an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd acquired a new position in Adobe during the fourth quarter worth $110,744,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Adobe in the 3rd quarter valued at about $126,703,000. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 0.5 %

NASDAQ ADBE opened at $454.69 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $587.75. The stock has a market cap of $197.93 billion, a P/E ratio of 36.67, a price-to-earnings-growth ratio of 2.25 and a beta of 1.31. The stock has a 50 day simple moving average of $440.89 and a two-hundred day simple moving average of $494.61.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.52 earnings per share. On average, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company dropped their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Citigroup lowered their target price on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $570.88.

Insider Activity

In other news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Ricks bought 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 over the last 90 days. 0.15% of the stock is currently owned by insiders.

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.