Outlook Wealth Advisors LLC Has $358,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Outlook Wealth Advisors LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 36.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 709 shares of the software company’s stock after purchasing an additional 190 shares during the period. Outlook Wealth Advisors LLC’s holdings in Adobe were worth $358,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Donaldson Capital Management LLC increased its stake in Adobe by 13.5% in the 1st quarter. Donaldson Capital Management LLC now owns 14,579 shares of the software company’s stock valued at $7,356,000 after buying an additional 1,730 shares during the last quarter. Waycross Investment Management Co boosted its position in Adobe by 4.5% during the first quarter. Waycross Investment Management Co now owns 2,666 shares of the software company’s stock valued at $1,345,000 after purchasing an additional 115 shares during the last quarter. Signature Wealth Management Group grew its stake in Adobe by 8.4% in the first quarter. Signature Wealth Management Group now owns 1,823 shares of the software company’s stock valued at $848,000 after purchasing an additional 142 shares in the last quarter. Arthur M. Cohen & Associates LLC increased its position in shares of Adobe by 12.7% during the 1st quarter. Arthur M. Cohen & Associates LLC now owns 1,067 shares of the software company’s stock worth $538,000 after purchasing an additional 120 shares during the last quarter. Finally, GraniteShares Advisors LLC boosted its holdings in shares of Adobe by 14.2% in the 1st quarter. GraniteShares Advisors LLC now owns 3,169 shares of the software company’s stock valued at $1,599,000 after buying an additional 393 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, CAO Mark S. Garfield sold 96 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the sale, the chief accounting officer now directly owns 4,128 shares in the company, valued at $1,940,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Anil Chakravarthy sold 100 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total transaction of $47,100.00. Following the completion of the sale, the insider now directly owns 33,609 shares in the company, valued at $15,829,839. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total transaction of $45,120.00. Following the completion of the transaction, the chief accounting officer now owns 4,128 shares in the company, valued at approximately $1,940,160. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293 shares of company stock worth $137,656. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, March 28th. TheStreet cut shares of Adobe from a “b-” rating to a “c+” rating in a report on Tuesday, March 19th. Robert W. Baird lowered their price target on Adobe from $590.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Oppenheimer reaffirmed an “outperform” rating and set a $660.00 price objective on shares of Adobe in a research report on Wednesday, March 27th. Finally, Barclays dropped their price objective on shares of Adobe from $700.00 to $630.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $620.72.

Adobe Price Performance

ADBE stock traded up $4.12 during midday trading on Friday, reaching $477.56. 2,460,261 shares of the stock were exchanged, compared to its average volume of 2,815,745. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $213.95 billion, a PE ratio of 45.66, a P/E/G ratio of 2.56 and a beta of 1.28. Adobe Inc. has a 52 week low of $331.89 and a 52 week high of $638.25. The company has a fifty day moving average price of $515.34 and a 200 day moving average price of $564.33.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.38 by $0.10. The company had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.97 earnings per share. As a group, analysts expect that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe announced that its board has approved a stock repurchase program on Thursday, March 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.