Wealthcare Advisory Partners LLC Sells 1,725 Shares of Adobe Inc. (NASDAQ:ADBE)

Wealthcare Advisory Partners LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 23.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,571 shares of the software company’s stock after selling 1,725 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Adobe were worth $2,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ADBE. Tompkins Financial Corp lifted its holdings in shares of Adobe by 3.4% in the fourth quarter. Tompkins Financial Corp now owns 13,803 shares of the software company’s stock worth $6,138,000 after buying an additional 453 shares in the last quarter. Woodstock Corp increased its holdings in Adobe by 3.9% during the 4th quarter. Woodstock Corp now owns 967 shares of the software company’s stock worth $430,000 after acquiring an additional 36 shares during the period. First Pacific Financial lifted its stake in Adobe by 7.1% in the 4th quarter. First Pacific Financial now owns 2,656 shares of the software company’s stock worth $1,181,000 after purchasing an additional 177 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in Adobe in the 4th quarter valued at $31,000. Finally, Kraematon Investment Advisors Inc. grew its position in shares of Adobe by 2.9% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 4,577 shares of the software company’s stock valued at $2,035,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,763 shares of company stock valued at $893,665 over the last quarter. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on ADBE. Wells Fargo & Company dropped their price objective on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Barclays cut their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Mizuho lowered their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Adobe Price Performance

ADBE stock opened at $429.99 on Friday. The stock has a market capitalization of $189.28 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 1.97 and a beta of 1.31. The firm’s 50-day moving average price is $477.84 and its two-hundred day moving average price is $513.73. The company has a current ratio of 1.07, a quick ratio of 1.11 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results 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 company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe’s 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 EPS. As a group, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.