Equitable Trust Co. Acquires 277 Shares of Adobe Inc. $ADBE

Equitable Trust Co. raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,506 shares of the software company’s stock after acquiring an additional 277 shares during the period. Equitable Trust Co.’s holdings in Adobe were worth $2,130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1248 Management LLC acquired a new position in shares of Adobe during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe during the first quarter worth about $26,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe during the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe during the first quarter worth about $30,000. Finally, Garde Capital Inc. bought a new stake in shares of Adobe during the first quarter worth about $34,000. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Evercore ISI dropped their price target on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. DA Davidson reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research note on Friday, September 12th. Finally, BMO Capital Markets cut their price objective on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Trading Down 1.0%

Shares of ADBE stock opened at $335.94 on Wednesday. The company has a market cap of $140.62 billion, a P/E ratio of 20.93, a PEG ratio of 1.52 and a beta of 1.49. The stock has a 50 day simple moving average of $351.63 and a two-hundred day simple moving average of $369.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90.

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 business had revenue of $5.99 billion during 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 firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $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. Research analysts forecast 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.