Carnegie Investment Counsel Decreases Stock Holdings in Adobe Inc. $ADBE

Carnegie Investment Counsel reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,080 shares of the software company’s stock after selling 10,845 shares during the period. Carnegie Investment Counsel’s holdings in Adobe were worth $36,398,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Brighton Jones LLC lifted its position in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after acquiring an additional 167 shares during the last quarter. GAMMA Investing LLC lifted its position in Adobe by 22.3% in the first quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock valued at $2,991,000 after acquiring an additional 1,422 shares during the last quarter. Moran Wealth Management LLC lifted its position in Adobe by 6.5% in the first quarter. Moran Wealth Management LLC now owns 1,402 shares of the software company’s stock valued at $538,000 after acquiring an additional 86 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Adobe in the first quarter valued at $217,000. Finally, Golden State Equity Partners lifted its position in Adobe by 3.1% in the first quarter. Golden State Equity Partners now owns 1,065 shares of the software company’s stock valued at $408,000 after acquiring an additional 32 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Up 0.0%

Shares of Adobe stock opened at $354.12 on Friday. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The company’s 50-day simple moving average is $351.74 and its 200-day simple moving average is $368.63. The firm has a market cap of $148.23 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.59 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the business posted $4.65 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Piper Sandler reduced their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Royal Bank Of Canada reduced their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of “Hold” and a consensus target price of $433.41.

About Adobe

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.