Family Capital Trust Co reduced its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 511,833 shares of the software company’s stock after selling 1,744 shares during the period. Adobe Systems accounts for approximately 37.4% of Family Capital Trust Co’s portfolio, making the stock its largest position. Family Capital Trust Co’s holdings in Adobe Systems were worth $72,394,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Clean Yield Group acquired a new stake in shares of Adobe Systems during the first quarter worth approximately $100,000. Washington Trust Bank boosted its stake in shares of Adobe Systems by 13.8% in the first quarter. Washington Trust Bank now owns 840 shares of the software company’s stock worth $109,000 after buying an additional 102 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Adobe Systems during the first quarter worth approximately $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Adobe Systems by 86.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in shares of Adobe Systems by 25.0% in the first quarter. Proficio Capital Partners LLC now owns 1,220 shares of the software company’s stock worth $172,000 after buying an additional 244 shares during the period. Institutional investors and hedge funds own 87.64% of the company’s stock.

Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.96% on Wednesday, hitting $151.81. 539,145 shares of the stock traded hands. The firm’s 50-day moving average price is $146.01 and its 200-day moving average price is $133.88. The stock has a market cap of $74.90 billion, a price-to-earnings ratio of 52.88 and a beta of 1.00. Adobe Systems Incorporated has a 12-month low of $97.87 and a 12-month high of $151.99.

Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, equities research analysts anticipate that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.

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A number of brokerages have recently commented on ADBE. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Royal Bank Of Canada reiterated a “buy” rating and issued a $157.00 target price on shares of Adobe Systems in a research report on Monday, July 31st. Pacific Crest increased their target price on shares of Adobe Systems from $142.00 to $174.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Pivotal Research reiterated a “sell” rating and issued a $114.00 target price (up from $112.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Finally, Deutsche Bank AG increased their target price on shares of Adobe Systems from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $154.20.

In other Adobe Systems news, Director John E. Warnock sold 32,600 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total value of $4,696,682.00. Following the completion of the transaction, the director now owns 16,088 shares in the company, valued at approximately $2,317,798.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 2,233 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $139.29, for a total value of $311,034.57. Following the completion of the transaction, the executive vice president now owns 61,944 shares of the company’s stock, valued at approximately $8,628,179.76. The disclosure for this sale can be found here. Insiders have sold a total of 102,239 shares of company stock valued at $14,877,475 in the last quarter. Company insiders own 0.38% of the company’s stock.

Adobe Systems Company Profile

Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

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

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