M Holdings Securities Inc. Acquires New Stake in Adobe Systems Incorporated (ADBE)
M Holdings Securities Inc. acquired a new position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 913 shares of the software company’s stock, valued at approximately $223,000.
Several other large investors also recently modified their holdings of ADBE. IFP Advisors Inc grew its stake in shares of Adobe Systems by 15.9% during the 1st quarter. IFP Advisors Inc now owns 5,400 shares of the software company’s stock worth $1,167,000 after purchasing an additional 739 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Adobe Systems by 15.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 10,630 shares of the software company’s stock worth $2,297,000 after purchasing an additional 1,438 shares during the period. Denver Investment Advisors LLC acquired a new position in shares of Adobe Systems during the 1st quarter worth $200,000. Bluestein R H & Co. boosted its position in shares of Adobe Systems by 269.6% in the 1st quarter. Bluestein R H & Co. now owns 4,250 shares of the software company’s stock worth $918,000 after buying an additional 3,100 shares in the last quarter. Finally, Brinker Capital Inc. boosted its position in shares of Adobe Systems by 8.3% in the 1st quarter. Brinker Capital Inc. now owns 6,631 shares of the software company’s stock worth $1,433,000 after buying an additional 506 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.
Several equities research analysts recently commented on ADBE shares. Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $305.00 price objective on the stock in a research report on Thursday, October 4th. Guggenheim initiated coverage on shares of Adobe Systems in a report on Tuesday, August 7th. They issued a “neutral” rating and a $275.00 target price on the stock. BidaskClub lowered shares of Adobe Systems from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Morgan Stanley increased their price objective on shares of Adobe Systems from $235.00 to $250.00 and gave the stock an “equal weight” rating in a report on Friday, June 15th. Finally, Credit Suisse Group increased their price objective on shares of Adobe Systems from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, September 14th. Ten analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $262.03.
Shares of ADBE traded up $10.28 during trading hours on Friday, reaching $248.87. 4,771,763 shares of the company’s stock traded hands, compared to its average volume of 2,941,160. The firm has a market capitalization of $131.77 billion, a price-to-earnings ratio of 69.32, a price-to-earnings-growth ratio of 2.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.66 and a current ratio of 1.66. Adobe Systems Incorporated has a twelve month low of $148.15 and a twelve month high of $277.61.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 13th. The software company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Adobe Systems had a return on equity of 29.51% and a net margin of 28.16%. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. Analysts forecast that Adobe Systems Incorporated will post 5.65 EPS for the current fiscal year.
Adobe Systems Profile
Adobe Systems Incorporated 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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