Sabal Trust CO Grows Holdings in Adobe Inc. (NASDAQ:ADBE)

Sabal Trust CO boosted its position in Adobe Inc. (NASDAQ:ADBE) by 24.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,127 shares of the software company’s stock after buying an additional 1,007 shares during the quarter. Sabal Trust CO’s holdings in Adobe were worth $2,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the 3rd quarter worth $26,000. Groupama Asset Managment boosted its stake in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after acquiring an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Adobe in the third quarter worth about $30,000. True Wealth Design LLC lifted its stake in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new position in Adobe in the fourth quarter worth about $31,000. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was bought 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 owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 in the last ninety days. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on ADBE. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 15th. Jefferies Financial Group decreased their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Sanford C. Bernstein cut their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Finally, Stifel Nicolaus dropped their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. One 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $570.88.

Adobe Price Performance

Adobe stock opened at $443.41 on Wednesday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $587.75. The stock has a market cap of $193.02 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $439.88 and a 200-day simple moving average of $492.62.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 25.85% and a return on equity of 45.87%. Adobe’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $3.52 EPS. Equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal 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.