Epoch Investment Partners Inc. Invests $4.40 Million in Adobe Inc (ADBE) Stock

Share on StockTwits

Epoch Investment Partners Inc. bought a new stake in Adobe Inc (NASDAQ:ADBE) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 19,440 shares of the software company’s stock, valued at approximately $4,398,000.

A number of other hedge funds have also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its holdings in Adobe by 24,198.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,660,570 shares of the software company’s stock valued at $171,000 after acquiring an additional 38,501,463 shares during the period. FMR LLC lifted its holdings in Adobe by 0.5% in the third quarter. FMR LLC now owns 37,486,540 shares of the software company’s stock valued at $10,119,492,000 after acquiring an additional 178,011 shares during the period. Vanguard Group Inc. lifted its holdings in Adobe by 1.0% in the third quarter. Vanguard Group Inc. now owns 37,046,965 shares of the software company’s stock valued at $10,000,828,000 after acquiring an additional 349,019 shares during the period. Vanguard Group Inc lifted its holdings in Adobe by 1.0% in the third quarter. Vanguard Group Inc now owns 37,046,965 shares of the software company’s stock valued at $10,000,828,000 after acquiring an additional 349,019 shares during the period. Finally, BlackRock Inc. lifted its holdings in Adobe by 0.6% in the third quarter. BlackRock Inc. now owns 33,974,587 shares of the software company’s stock valued at $9,171,442,000 after acquiring an additional 191,786 shares during the period. 85.88% of the stock is currently owned by institutional investors.

Shares of ADBE opened at $267.69 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $129.31 billion, a price-to-earnings ratio of 48.23, a P/E/G ratio of 2.59 and a beta of 1.10. Adobe Inc has a 52 week low of $204.95 and a 52 week high of $277.61.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, March 14th. The software company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.09. Adobe had a return on equity of 31.19% and a net margin of 28.69%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the business posted $1.55 earnings per share. The firm’s revenue was up 24.1% on a year-over-year basis. As a group, research analysts anticipate that Adobe Inc will post 6.21 earnings per share for the current fiscal year.

In related news, EVP Bradley Rencher sold 30,000 shares of the stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $246.46, for a total transaction of $7,393,800.00. Following the completion of the sale, the executive vice president now owns 42,340 shares in the company, valued at $10,435,116.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Lewnes sold 3,000 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $258.13, for a total value of $774,390.00. Following the sale, the executive vice president now owns 72,368 shares of the company’s stock, valued at approximately $18,680,351.84. The disclosure for this sale can be found here. Insiders have sold 282,344 shares of company stock valued at $69,007,648 in the last quarter. 0.32% of the stock is currently owned by company insiders.

A number of research analysts have weighed in on ADBE shares. ValuEngine raised Adobe from a “hold” rating to a “buy” rating in a report on Tuesday, November 27th. Zacks Investment Research raised Adobe from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Tuesday, November 27th. Credit Suisse Group reissued a “buy” rating and issued a $300.00 target price on shares of Adobe in a report on Monday, December 10th. Citigroup lowered their target price on Adobe from $309.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 10th. Finally, Nomura set a $315.00 target price on Adobe and gave the company a “buy” rating in a report on Friday, December 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $284.44.

TRADEMARK VIOLATION NOTICE: “Epoch Investment Partners Inc. Invests $4.40 Million in Adobe Inc (ADBE) Stock” was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The legal version of this report can be accessed at https://www.tickerreport.com/banking-finance/4222751/epoch-investment-partners-inc-invests-4-40-million-in-adobe-inc-adbe-stock.html.

About Adobe

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: Buy-Side Analysts

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.



Latest News

Electroneum  Trading 10.8% Higher  Over Last Week
Electroneum Trading 10.8% Higher Over Last Week
$0.25 Earnings Per Share Expected for Paylocity Holding Corp  This Quarter
$0.25 Earnings Per Share Expected for Paylocity Holding Corp This Quarter
YoloCash  Market Cap Hits $15,461.00
YoloCash Market Cap Hits $15,461.00
VikkyToken Achieves Market Cap of $28,771.00
VikkyToken Achieves Market Cap of $28,771.00
Head to Head Analysis: Key Energy Services  vs. RPC
Head to Head Analysis: Key Energy Services vs. RPC
Colu Local Network  Price Up 4.3% This Week
Colu Local Network Price Up 4.3% This Week


© 2006-2019 Ticker Report