Community Bank & Trust Waco Texas Trims Stock Position in Adobe Inc. $ADBE

Community Bank & Trust Waco Texas lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 944 shares of the software company’s stock after selling 52 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Adobe were worth $365,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after purchasing an additional 171,547 shares during the period. Bank of New York Mellon Corp raised its position in Adobe by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after purchasing an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Adobe by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after purchasing an additional 126,688 shares during the period. Amundi raised its position in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ADBE shares. Robert W. Baird boosted their target price on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. Barclays upped their price objective on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Citigroup cut their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

NASDAQ ADBE opened at $352.75 on Wednesday. The company has a fifty day moving average of $354.68 and a two-hundred day moving average of $373.21. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $147.66 billion, a PE ratio of 21.98, a P/E/G ratio of 1.61 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The business’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. As a group, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

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.