Moody National Bank Trust Division Acquires 67,872 Shares of Adobe Systems Incorporated (ADBE)

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Moody National Bank Trust Division lifted its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 905.4% during the third quarter, HoldingsChannel.com reports. The firm owned 75,368 shares of the software company’s stock after acquiring an additional 67,872 shares during the quarter. Adobe Systems makes up 0.5% of Moody National Bank Trust Division’s investment portfolio, making the stock its 20th biggest holding. Moody National Bank Trust Division’s holdings in Adobe Systems were worth $20,346,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in Adobe Systems by 2.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,139,319 shares of the software company’s stock worth $1,740,637,000 after buying an additional 141,525 shares during the last quarter. Morgan Stanley raised its stake in Adobe Systems by 79.1% during the second quarter. Morgan Stanley now owns 3,431,752 shares of the software company’s stock worth $836,695,000 after buying an additional 1,515,736 shares during the last quarter. Edgewood Management LLC bought a new position in Adobe Systems during the second quarter worth $565,496,000. Schwab Charles Investment Management Inc. raised its stake in Adobe Systems by 5.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,831,169 shares of the software company’s stock worth $446,458,000 after buying an additional 94,626 shares during the last quarter. Finally, Swedbank raised its stake in Adobe Systems by 3.8% during the second quarter. Swedbank now owns 1,820,343 shares of the software company’s stock worth $443,818,000 after buying an additional 66,223 shares during the last quarter. Institutional investors own 85.02% of the company’s stock.

In other news, EVP Ann Lewnes sold 2,941 shares of Adobe Systems stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $271.14, for a total transaction of $797,422.74. Following the completion of the transaction, the executive vice president now directly owns 58,557 shares in the company, valued at $15,877,144.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 8,790 shares of company stock valued at $2,303,462 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

ADBE has been the subject of several research analyst reports. Jefferies Financial Group lifted their price target on shares of Adobe Systems to $315.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Citigroup lifted their price target on shares of Adobe Systems from $260.00 to $309.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Credit Suisse Group lifted their price target on shares of Adobe Systems from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, September 14th. Griffin Securities lifted their price target on shares of Adobe Systems from $278.00 to $296.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Finally, Robert W. Baird lifted their price target on shares of Adobe Systems from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 14th. Ten investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $269.17.

Shares of NASDAQ ADBE opened at $246.68 on Thursday. The stock has a market cap of $116.38 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. Adobe Systems Incorporated has a 1 year low of $165.68 and a 1 year high of $277.61. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 13th. The software company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Adobe Systems had a net margin of 28.16% and a return on equity of 29.51%. The business’s revenue was up 24.4% on a year-over-year basis. During the same period last year, the company earned $1.10 earnings per share. As a group, research analysts anticipate that Adobe Systems Incorporated will post 5.66 EPS for the current fiscal year.

Adobe Systems 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 customers to download and install the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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