Livingston Group Asset Management CO operating as Southport Capital Management Sells 77 Shares of Adobe Inc (NASDAQ:ADBE)

Share on StockTwits

Livingston Group Asset Management CO operating as Southport Capital Management reduced its stake in Adobe Inc (NASDAQ:ADBE) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,213 shares of the software company’s stock after selling 77 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Adobe were worth $730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Keudell Morrison Wealth Management grew its position in Adobe by 328.1% in the second quarter. Keudell Morrison Wealth Management now owns 12,240 shares of the software company’s stock worth $3,607,000 after buying an additional 9,381 shares during the last quarter. Pictet Asset Management Ltd. grew its holdings in shares of Adobe by 4.6% in the 2nd quarter. Pictet Asset Management Ltd. now owns 255,487 shares of the software company’s stock worth $75,279,000 after acquiring an additional 11,230 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Adobe during the second quarter worth $247,000. Johnson Investment Counsel Inc. raised its position in shares of Adobe by 1.7% during the second quarter. Johnson Investment Counsel Inc. now owns 8,858 shares of the software company’s stock worth $2,610,000 after purchasing an additional 145 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of Adobe by 1.9% during the second quarter. Private Advisor Group LLC now owns 19,445 shares of the software company’s stock valued at $5,729,000 after purchasing an additional 367 shares during the last quarter. 84.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:ADBE traded up $0.83 during midday trading on Thursday, hitting $343.77. 558,920 shares of the stock were exchanged, compared to its average volume of 1,791,495. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.74 and a current ratio of 0.79. Adobe Inc has a 52-week low of $237.26 and a 52-week high of $347.27. The business’s fifty day simple moving average is $323.24 and its two-hundred day simple moving average is $296.87. The company has a market capitalization of $166.83 billion, a PE ratio of 52.40, a P/E/G ratio of 2.65 and a beta of 1.11.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, December 12th. The software company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. Adobe had a return on equity of 31.47% and a net margin of 26.42%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts anticipate that Adobe Inc will post 8.02 EPS for the current year.

In other news, Director Charles M. Geschke sold 16,764 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $332.00, for a total transaction of $5,565,648.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 948 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $319.27, for a total transaction of $302,667.96. Following the transaction, the chief accounting officer now owns 74 shares in the company, valued at approximately $23,625.98. The disclosure for this sale can be found here. Insiders have sold a total of 37,312 shares of company stock valued at $12,297,624 over the last ninety days. Company insiders own 0.32% of the company’s stock.

A number of research firms have recently issued reports on ADBE. Citigroup boosted their price target on shares of Adobe from $313.00 to $321.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. BidaskClub upgraded shares of Adobe from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. Stifel Nicolaus boosted their target price on shares of Adobe from $325.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Nomura increased their target price on Adobe from $310.00 to $318.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Cleveland Research assumed coverage on Adobe in a report on Tuesday, October 15th. They issued a “neutral” rating and a $283.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $333.21.

Adobe Company 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.

Further Reading: What economic reports are most valuable to investors?

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc (NASDAQ:ADBE).

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.