Adobe Inc (ADBE) Shares Bought by Charter Trust Co.

Charter Trust Co. boosted its holdings in Adobe Inc (NASDAQ:ADBE) by 90.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,609 shares of the software company’s stock after purchasing an additional 765 shares during the quarter. Charter Trust Co.’s holdings in Adobe were worth $434,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Cognios Capital LLC lifted its position in shares of Adobe by 18.1% during the 2nd quarter. Cognios Capital LLC now owns 7,472 shares of the software company’s stock worth $1,821,000 after purchasing an additional 1,144 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Adobe by 0.6% during the 2nd quarter. Victory Capital Management Inc. now owns 81,573 shares of the software company’s stock worth $19,888,000 after purchasing an additional 506 shares during the last quarter. Inverness Counsel LLC NY lifted its position in shares of Adobe by 1.9% during the 2nd quarter. Inverness Counsel LLC NY now owns 242,376 shares of the software company’s stock worth $59,094,000 after purchasing an additional 4,612 shares during the last quarter. Vicus Capital purchased a new stake in shares of Adobe during the 2nd quarter worth $267,000. Finally, Alps Advisors Inc. lifted its position in shares of Adobe by 4.8% during the 2nd quarter. Alps Advisors Inc. now owns 8,257 shares of the software company’s stock worth $2,013,000 after purchasing an additional 379 shares during the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

Shares of NASDAQ:ADBE opened at $238.00 on Friday. Adobe Inc has a 12 month low of $170.43 and a 12 month high of $277.61. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.21. The firm has a market cap of $122.34 billion, a P/E ratio of 48.86, a P/E/G ratio of 2.32 and a beta of 1.14.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 13th. The software company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. Adobe had a net margin of 28.16% and a return on equity of 29.51%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the business earned $1.10 EPS. Adobe’s revenue for the quarter was up 24.4% compared to the same quarter last year. Equities analysts expect that Adobe Inc will post 5.66 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. Credit Suisse Group lifted their price objective on shares of Adobe from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. Jefferies Financial Group lifted their price objective on shares of Adobe to $315.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Citigroup lifted their price objective on shares of Adobe from $260.00 to $309.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Griffin Securities lifted their price objective on shares of Adobe from $278.00 to $296.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Finally, Robert W. Baird lifted their price objective on shares of Adobe from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. Ten research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Adobe presently has an average rating of “Buy” and an average price target of $271.90.

In other Adobe news, EVP Ann Lewnes sold 2,910 shares of Adobe stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $261.21, for a total value of $760,121.10. Following the transaction, the executive vice president now directly owns 55,647 shares in the company, valued at $14,535,552.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bradley Rencher sold 12,000 shares of Adobe stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $245.30, for a total transaction of $2,943,600.00. Following the completion of the transaction, the executive vice president now owns 68,071 shares in the company, valued at $16,697,816.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,806 shares of company stock worth $5,167,142. 0.33% of the stock is currently owned by company insiders.

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About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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