LVM Capital Management Ltd. MI Lowers Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

LVM Capital Management Ltd. MI lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 18.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 783 shares of the software company’s stock after selling 173 shares during the period. LVM Capital Management Ltd. MI’s holdings in Adobe were worth $348,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its position in Adobe by 3.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,835 shares of the software company’s stock valued at $2,595,000 after purchasing an additional 173 shares in the last quarter. CCM Investment Advisers LLC raised its holdings in shares of Adobe by 8.4% in the fourth quarter. CCM Investment Advisers LLC now owns 30,405 shares of the software company’s stock valued at $13,521,000 after acquiring an additional 2,359 shares in the last quarter. Ridgewood Investments LLC lifted its stake in Adobe by 38.9% in the fourth quarter. Ridgewood Investments LLC now owns 3,178 shares of the software company’s stock worth $1,413,000 after acquiring an additional 890 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Adobe by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock worth $44,090,000 after acquiring an additional 1,326 shares in the last quarter. Finally, ORG Partners LLC increased its position in Adobe by 64.4% during the 4th quarter. ORG Partners LLC now owns 513 shares of the software company’s stock valued at $228,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE traded down $10.27 during mid-day trading on Friday, reaching $409.31. The company’s stock had a trading volume of 3,210,799 shares, compared to its average volume of 3,795,653. The stock has a 50-day moving average of $485.54 and a two-hundred day moving average of $517.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $180.18 billion, a P/E ratio of 33.01, a P/E/G ratio of 2.51 and a beta of 1.31. Adobe Inc. has a 1-year low of $405.32 and a 1-year high of $638.25.

Adobe (NASDAQ:ADBE) last posted 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. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period in the prior year, the business earned $3.52 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts anticipate that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ADBE shares. Barclays dropped their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group dropped their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets reduced their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. UBS Group dropped their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, DA Davidson reduced their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $575.85.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,293 shares of company stock valued at $1,679,809. 0.15% of the stock is owned by company insiders.

About Adobe

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.