Godshalk Welsh Capital Management Inc. Purchases Shares of 510 Adobe Inc. (NASDAQ:ADBE)

Godshalk Welsh Capital Management Inc. acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 510 shares of the software company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its position in Adobe by 1.2% in the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after buying an additional 234,909 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Adobe by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after acquiring an additional 147,981 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Adobe by 3.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock valued at $2,455,079,000 after acquiring an additional 140,390 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Adobe by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company’s stock valued at $1,249,066,000 after acquiring an additional 92,458 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Adobe by 7.3% during the third quarter. Franklin Resources Inc. now owns 2,424,024 shares of the software company’s stock worth $1,235,157,000 after purchasing an additional 163,983 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

Shares of ADBE opened at $397.81 on Thursday. The business’s 50-day moving average is $433.31 and its 200-day moving average is $472.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $173.21 billion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 2.15 and a beta of 1.37. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the firm posted $4.48 earnings per share. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity

In related news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 5,075 shares of company stock worth $2,191,826 in the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $530.00 price target on shares of Adobe in a research note on Wednesday, March 19th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a report on Wednesday, January 15th. KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Robert W. Baird lowered their price objective on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, Barclays cut their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $533.85.

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.