Baldwin Wealth Partners LLC MA Has $20.29 Million Position in Adobe Inc. (NASDAQ:ADBE)

Baldwin Wealth Partners LLC MA raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,627 shares of the software company's stock after purchasing an additional 2,578 shares during the quarter. Adobe comprises approximately 1.4% of Baldwin Wealth Partners LLC MA's holdings, making the stock its 20th biggest holding. Baldwin Wealth Partners LLC MA's holdings in Adobe were worth $20,289,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Onyx Bridge Wealth Group LLC boosted its position in shares of Adobe by 4.0% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company's stock worth $272,000 after purchasing an additional 20 shares during the last quarter. Connable Office Inc. lifted its stake in Adobe by 0.5% in the third quarter. Connable Office Inc. now owns 3,732 shares of the software company's stock valued at $1,932,000 after buying an additional 20 shares during the period. 1ST Source Bank boosted its holdings in Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company's stock worth $1,496,000 after buying an additional 20 shares during the last quarter. Next Capital Management LLC grew its position in shares of Adobe by 3.2% during the 2nd quarter. Next Capital Management LLC now owns 678 shares of the software company's stock worth $377,000 after buying an additional 21 shares during the period. Finally, James J. Burns & Company LLC increased its stake in shares of Adobe by 5.6% in the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company's stock valued at $215,000 after acquiring an additional 22 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

NASDAQ:ADBE traded up $3.21 during mid-day trading on Monday, hitting $438.59. 5,082,312 shares of the stock were exchanged, compared to its average volume of 3,969,906. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm's 50-day simple moving average is $468.14 and its 200 day simple moving average is $507.26. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25. The stock has a market capitalization of $190.92 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its 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 net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same quarter in the previous year, the business posted $3.52 earnings per share. Adobe's quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADBE. Wells Fargo & Company decreased their price objective on shares of Adobe from $700.00 to $640.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Mizuho decreased their price target on shares of Adobe from $640.00 to $620.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research note on Thursday, December 12th. Barclays decreased their target price on Adobe from $675.00 to $645.00 and set an "overweight" rating for the company in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $573.00.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 676 shares of the company's stock in a transaction on 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 in the company, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse sold 606 shares of the firm's stock in a transaction on Friday, December 6th. The stock was 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 owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

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.