Willis Investment Counsel Has $6.37 Million Position in Adobe Inc. (NASDAQ:ADBE)

Willis Investment Counsel increased its stake in Adobe Inc. (NASDAQ:ADBE) by 0.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,598 shares of the software company’s stock after purchasing an additional 40 shares during the quarter. Willis Investment Counsel’s holdings in Adobe were worth $6,366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Brighton Jones LLC raised its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after buying an additional 167 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Adobe in the fourth quarter valued at $76,712,000. Stonebridge Financial Group LLC acquired a new position in Adobe in the fourth quarter worth $73,000. Capital Advisors Inc. OK boosted its stake in Adobe by 34.4% in the fourth quarter. Capital Advisors Inc. OK now owns 672 shares of the software company’s stock worth $299,000 after purchasing an additional 172 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Adobe by 4.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 155,350 shares of the software company’s stock worth $68,522,000 after purchasing an additional 6,841 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $413.68 on Friday. The stock has a fifty day simple moving average of $385.73 and a two-hundred day simple moving average of $422.64. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The firm has a market cap of $176.31 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the prior year, the firm earned $4.48 earnings per share. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research reports. KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Redburn Atlantic began coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Morgan Stanley lowered their price target on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. UBS Group increased their price target on Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Piper Sandler lowered their price target on Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $503.33.

Adobe Profile

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.