Retirement Systems of Alabama Sells 2,089 Shares of Adobe Inc. $ADBE

Retirement Systems of Alabama lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 91,454 shares of the software company’s stock after selling 2,089 shares during the period. Retirement Systems of Alabama’s holdings in Adobe were worth $35,382,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. PFG Advisors boosted its stake in shares of Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after purchasing an additional 855 shares during the last quarter. Lathrop Investment Management Co. lifted its stake in Adobe by 2.8% in the second quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after buying an additional 718 shares during the period. Mcdaniel Terry & Co. raised its position in shares of Adobe by 2.8% in the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after acquiring an additional 1,093 shares during the period. Financial Counselors Inc. grew its holdings in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after purchasing an additional 5,298 shares during the period. Finally, Jackson Thornton Wealth Management LLC bought a new stake in Adobe in the second quarter valued at approximately $328,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 0.4%

Shares of ADBE opened at $339.24 on Friday. The firm has a 50 day simple moving average of $351.10 and a two-hundred day simple moving average of $368.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90. The company has a market cap of $142.01 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the business posted $4.65 EPS. The company’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. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Barclays set a $465.00 price objective on shares of Adobe and gave the stock an “overweight” rating in a research report on Wednesday. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. Finally, JMP Securities reiterated 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, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.