Adobe Inc. $ADBE is Capital Investment Counsel Inc’s 10th Largest Position

Capital Investment Counsel Inc increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 11.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,552 shares of the software company’s stock after buying an additional 3,270 shares during the quarter. Adobe accounts for about 1.7% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 10th largest position. Capital Investment Counsel Inc’s holdings in Adobe were worth $12,594,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADBE. D Orazio & Associates Inc. increased its holdings in Adobe by 7.2% during the second quarter. D Orazio & Associates Inc. now owns 1,149 shares of the software company’s stock valued at $445,000 after buying an additional 77 shares during the last quarter. ABN Amro Investment Solutions bought a new stake in shares of Adobe during the 2nd quarter valued at $11,100,000. Smithfield Trust Co increased its stake in shares of Adobe by 24.9% in the 2nd quarter. Smithfield Trust Co now owns 3,205 shares of the software company’s stock worth $1,237,000 after purchasing an additional 638 shares in the last quarter. Breed s Hill Capital LLC raised its holdings in Adobe by 2.9% in the 2nd quarter. Breed s Hill Capital LLC now owns 1,204 shares of the software company’s stock worth $466,000 after purchasing an additional 34 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in Adobe by 458.2% in the 2nd quarter. Impax Asset Management Group plc now owns 12,654 shares of the software company’s stock worth $4,896,000 after purchasing an additional 10,387 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ADBE shares. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a report on Monday, August 11th. TD Cowen cut their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. UBS Group decreased their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, Cowen reissued a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $433.41.

Adobe Trading Up 1.1%

Shares of ADBE opened at $337.05 on Thursday. The firm has a market cap of $141.09 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. 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 1 year low of $323.03 and a 1 year high of $557.90. The company has a 50 day simple moving average of $347.18 and a two-hundred day simple moving average of $367.65.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 30.01% and a return on equity of 57.54%. Adobe’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts expect 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.