Whittier Trust Co. Has $2.47 Million Stock Holdings in Adobe Inc. $ADBE

Whittier Trust Co. lessened its position in Adobe Inc. (NASDAQ:ADBE) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,379 shares of the software company’s stock after selling 754 shares during the period. Whittier Trust Co.’s holdings in Adobe were worth $2,468,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. 1248 Management LLC acquired a new stake in shares of Adobe in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe in the 1st quarter valued at $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe in the first quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe in the first quarter valued at about $30,000. Finally, Nexus Investment Management ULC bought a new position in shares of Adobe in the second quarter valued at about $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

Adobe stock opened at $354.09 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1 year low of $327.50 and a 1 year high of $557.90. The company has a market cap of $148.22 billion, a PE ratio of 22.06, a PEG ratio of 1.60 and a beta of 1.49. The company’s 50-day moving average is $351.63 and its two-hundred day moving average is $368.54.

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

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research analyst reports. Redburn Partners set a $280.00 price target on Adobe in a report on Monday, September 1st. TD Cowen cut their price target on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. DA Davidson reaffirmed a “buy” rating and issued a $500.00 price target on shares of Adobe in a report on Friday, September 12th. Redburn Atlantic cut Adobe from a “hold” rating to a “strong sell” rating and cut their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $433.41.

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.