Adobe Inc (NASDAQ:ADBE) is Schaper Benz & Wise Investment Counsel Inc. WI’s 3rd Largest Position

Schaper Benz & Wise Investment Counsel Inc. WI decreased its position in Adobe Inc (NASDAQ:ADBE) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,777 shares of the software company’s stock after selling 491 shares during the period. Adobe accounts for approximately 3.1% of Schaper Benz & Wise Investment Counsel Inc. WI’s investment portfolio, making the stock its 3rd largest position. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Adobe were worth $24,801,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Montag A & Associates Inc. boosted its position in shares of Adobe by 8.6% during the 3rd quarter. Montag A & Associates Inc. now owns 46,574 shares of the software company’s stock worth $12,866,000 after purchasing an additional 3,681 shares during the period. First Trust Advisors LP boosted its position in shares of Adobe by 35.9% during the 3rd quarter. First Trust Advisors LP now owns 572,625 shares of the software company’s stock worth $158,188,000 after purchasing an additional 151,207 shares during the period. Haverford Trust Co. boosted its position in shares of Adobe by 31.2% during the 3rd quarter. Haverford Trust Co. now owns 921 shares of the software company’s stock worth $254,000 after purchasing an additional 219 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Adobe by 63.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 43,296 shares of the software company’s stock worth $11,961,000 after purchasing an additional 16,751 shares during the period. Finally, Keybank National Association OH boosted its position in shares of Adobe by 2.6% during the 3rd quarter. Keybank National Association OH now owns 44,059 shares of the software company’s stock worth $12,171,000 after purchasing an additional 1,123 shares during the period. 86.60% of the stock is owned by institutional investors and hedge funds.

In other news, CMO Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $274.34, for a total value of $823,020.00. Following the sale, the chief marketing officer now directly owns 52,398 shares in the company, valued at approximately $14,374,867.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 9,000 shares of company stock worth $2,500,110 over the last 90 days. Company insiders own 0.32% of the company’s stock.

A number of equities analysts recently weighed in on ADBE shares. Credit Suisse Group set a $325.00 price objective on shares of Adobe and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Griffin Securities increased their price objective on shares of Adobe from $303.00 to $317.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Barclays lowered their price objective on shares of Adobe from $330.00 to $325.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. BidaskClub cut shares of Adobe from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 19th. Finally, Stephens set a $327.00 price objective on shares of Adobe and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the stock. Adobe presently has an average rating of “Hold” and an average price target of $304.88.

Adobe stock traded up $1.69 during mid-day trading on Friday, reaching $292.46. 1,628,400 shares of the company’s stock were exchanged, compared to its average volume of 2,747,625. The company has a market cap of $140.04 billion, a P/E ratio of 52.70, a P/E/G ratio of 2.79 and a beta of 1.09. Adobe Inc has a twelve month low of $204.95 and a twelve month high of $313.11. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $274.89 and a 200-day moving average of $284.28.

Adobe (NASDAQ:ADBE) last released its earnings results on Tuesday, September 17th. The software company reported $2.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.08. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.82 billion. Adobe had a net margin of 26.10% and a return on equity of 30.49%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 EPS. Equities research analysts expect that Adobe Inc will post 6.39 earnings per share for the current fiscal year.

Adobe Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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