Sterling Investment Counsel LLC Reduces Stock Position in Adobe Inc. $ADBE

Sterling Investment Counsel LLC lowered its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 662 shares of the software company’s stock after selling 73 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Adobe were worth $256,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ADBE. 1248 Management LLC purchased a new position in Adobe during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe during the 1st quarter valued at $26,000. Flaharty Asset Management LLC purchased a new position in Adobe during the 1st quarter valued at $29,000. HHM Wealth Advisors LLC purchased a new position in Adobe during the 1st quarter valued at $30,000. Finally, Garde Capital Inc. purchased a new position in Adobe during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of recent analyst reports. Oppenheimer dropped their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. Redburn Partners set a $280.00 target price on Adobe in a research report on Monday, September 1st. Piper Sandler decreased their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Evercore ISI decreased their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Finally, UBS Group decreased their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $433.41.

Adobe Trading Up 2.3%

ADBE opened at $351.48 on Friday. The firm has a market cap of $147.13 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.54 and a beta of 1.49. 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 12 month low of $330.04 and a 12 month high of $557.90. The stock has a fifty day moving average price of $353.70 and a 200-day moving average price of $372.68.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous 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. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Company 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.