Fulton Breakefield Broenniman LLC Sells 1,674 Shares of Adobe Inc. $ADBE

Fulton Breakefield Broenniman LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,324 shares of the software company’s stock after selling 1,674 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Adobe were worth $9,024,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADBE. Garde Capital Inc. bought a new position in shares of Adobe during the 1st quarter valued at approximately $34,000. PFG Advisors lifted its holdings in Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after purchasing an additional 855 shares in the last quarter. Krane Funds Advisors LLC lifted its holdings in Adobe by 110.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after purchasing an additional 730 shares in the last quarter. Financial Counselors Inc. lifted its holdings in Adobe by 9.2% in the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe in the 1st quarter worth approximately $305,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADBE. Piper Sandler lowered their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Robert W. Baird boosted their price target on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Morgan Stanley cut Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. UBS Group decreased their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a report on Friday, September 12th. Finally, Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Performance

NASDAQ ADBE opened at $348.77 on Thursday. The company has a market cap of $146.00 billion, a P/E ratio of 21.73, a P/E/G ratio of 1.56 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50 day moving average price is $352.08 and its 200-day moving average price is $371.56. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter 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. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.