Halbert Hargroverussell Lowers stake in Adobe Systems Incorporated (ADBE)

Adobe Systems Incorporated (ADBE) : Halbert Hargroverussell reduced its stake in Adobe Systems Incorporated by 22.62% during the most recent quarter end. The investment management company now holds a total of 2,193 shares of Adobe Systems Incorporated which is valued at $222,962 after selling 641 shares in Adobe Systems Incorporated , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Adobe Systems Incorporated makes up approximately 0.06% of Halbert Hargroverussell’s portfolio.

Other Hedge Funds, Including , Bailard added ADBE to its portfolio by purchasing 2,208 company shares during the most recent quarter which is valued at $224,487. Adobe Systems Incorporated makes up approx 0.03% of Bailard’s portfolio.Alexandria Capital boosted its stake in ADBE in the latest quarter, The investment management firm added 10 additional shares and now holds a total of 91 shares of Adobe Systems Incorporated which is valued at $9,013.Ao Asset Management reduced its stake in ADBE by selling 200 shares or 0.06% in the most recent quarter. The Hedge Fund company now holds 308,400 shares of ADBE which is valued at $29,813,028. Adobe Systems Incorporated makes up approx 7.35% of Ao Asset Management’s portfolio.Sg Americas Securities boosted its stake in ADBE in the latest quarter, The investment management firm added 17,082 additional shares and now holds a total of 47,459 shares of Adobe Systems Incorporated which is valued at $4,587,862. Adobe Systems Incorporated makes up approx 0.03% of Sg Americas Securities’s portfolio.Ibm Retirement Fund reduced its stake in ADBE by selling 895 shares or 1.37% in the most recent quarter. The Hedge Fund company now holds 64,198 shares of ADBE which is valued at $6,295,256. Adobe Systems Incorporated makes up approx 0.23% of Ibm Retirement Fund’s portfolio.

Adobe Systems Incorporated closed down -0.11 points or -0.11% at $100.93 with 16,97,642 shares getting traded on Monday. Post opening the session at $101.38, the shares hit an intraday low of $100.88 and an intraday high of $101.63 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Adobe Systems Incorporated reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jun 21, 2016. Analyst had a consensus of $0.68. The company had revenue of $1399.00 million for the quarter, compared to analysts expectations of $1404.12 million. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Adobe Systems Incorporated. Piper Jaffray Initiated Adobe Systems Incorporated on Jul 26, 2016 to “Overweight”, Price Target of the shares are set at $125.Company shares were Reiterated by Rosenblatt on Jun 22, 2016 to “Buy”, Firm has raised the Price Target to $ 120 from a previous price target of $112 .Company shares were Reiterated by UBS on Jun 22, 2016 to “Buy”, Firm has raised the Price Target to $ 122 from a previous price target of $114 .

Adobe Systems Incorporated (Adobe) is a software company. The Company offers products and services for professionals marketers application developers enterprises and consumers for creating managing delivering optimizing and engaging with content. Adobe markets and licenses its products and services through app stores and its Website www.adobe.com. The Company’s operates in three segments: Digital Marketing Digital Media and Print and Publishing. In Digital Media the Company is engaged in providing tools services and solutions that enable to create publish and promote their content. In Digital Marketing the Company is engaged in providing solutions and services for creating managing executing measuring and optimizing digital advertising and marketing campaigns. Adobe’s Print and Publishing segment addresses various market opportunities including eLearning solutions technical document publishing Web application development and high-end printing.

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