Today, 202 Shares of Adobe Systems Inc. (ADBE) are sold by BB&T Corp

Today, 202 Shares of Adobe Systems Inc. (ADBE) are sold by BB&T Corp
BB&T Corp decreased its position in Adobe Systems Inc. (NASDAQ:ADBE) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,523 shares of the software company’s stock after selling 202 shares during the period. BB&T Corp’s holdings in Adobe Systems were worth $1,034,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ADBE. BB&T Securities LLC raised its stake in shares of Adobe Systems by 126.8% in the second quarter. BB&T Securities LLC now owns 12,934 shares of the software company’s stock worth $1,238,000 after buying an additional 7,231 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Adobe Systems by 6.9% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 441,697 shares of the software company’s stock worth $42,310,000 after buying an additional 28,356 shares in the last quarter. Norinchukin Bank The raised its stake in shares of Adobe Systems by 2.6% in the second quarter. Norinchukin Bank The now owns 26,236 shares of the software company’s stock worth $2,513,000 after buying an additional 660 shares in the last quarter. Atalanta Sosnoff Capital LLC raised its stake in shares of Adobe Systems by 53.5% in the second quarter. Atalanta Sosnoff Capital LLC now owns 220,831 shares of the software company’s stock worth $21,153,000 after buying an additional 76,988 shares in the last quarter. Finally, Carnick & Kubik Group LLC purchased a new stake in shares of Adobe Systems during the second quarter worth $1,215,000. Hedge funds and other institutional investors own 88.01% of the company’s stock.

Shares of Adobe Systems Inc. (NASDAQ:ADBE) remained flat at $104.21 during midday trading on Thursday. The company’s stock had a trading volume of 2,144,636 shares. Adobe Systems Inc. has a 12-month low of $71.27 and a 12-month high of $111.09. The company has a 50-day moving average of $107.05 and a 200 day moving average of $101.26. The firm has a market cap of $51.82 billion, a price-to-earnings ratio of 53.17 and a beta of 1.14.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The company earned $1.46 billion during the quarter. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. Adobe Systems’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS. On average, analysts forecast that Adobe Systems Inc. will post $2.98 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on ADBE shares. Vetr lowered Adobe Systems from a “hold” rating to a “sell” rating and set a $105.68 price objective on the stock. in a research report on Monday, October 10th. Deutsche Bank AG restated a “buy” rating and set a $125.00 price objective on shares of Adobe Systems in a research report on Thursday, November 3rd. Stephens assumed coverage on Adobe Systems in a report on Wednesday, August 10th. They set an “overweight” rating and a $125.00 target price on the stock. Cowen and Company reaffirmed an “outperform” rating and set a $120.00 target price on shares of Adobe Systems in a report on Tuesday, September 27th. Finally, BTIG Research assumed coverage on Adobe Systems in a report on Wednesday, November 16th. They set a “neutral” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $112.87.

In other Adobe Systems news, Director Daniel Rosensweig sold 13,000 shares of Adobe Systems stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $107.42, for a total value of $1,396,460.00. Following the completion of the sale, the director now owns 13,000 shares of the company’s stock, valued at approximately $1,396,460. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman John E. Warnock sold 5,000 shares of Adobe Systems stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $106.99, for a total transaction of $534,950.00. Following the completion of the sale, the chairman now directly owns 16,088 shares of the company’s stock, valued at approximately $1,721,255.12. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

About Adobe Systems

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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