Johnson Investment Counsel Inc. Sells 2,289 Shares of Adobe Inc. $ADBE

Johnson Investment Counsel Inc. reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,875 shares of the software company’s stock after selling 2,289 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Adobe were worth $59,531,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 1248 Management LLC bought a new stake in shares of Adobe during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the first quarter valued at approximately $26,000. Flaharty Asset Management LLC bought a new position in Adobe in the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC bought a new position in Adobe in the first quarter valued at approximately $30,000. Finally, Garde Capital Inc. bought a new position in Adobe in the first quarter valued at approximately $34,000. 81.79% of the stock is owned by institutional investors.

Adobe Trading Down 2.9%

ADBE opened at $337.51 on Friday. The firm’s fifty day moving average is $351.67 and its two-hundred day moving average is $370.59. 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 firm has a market cap of $141.28 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADBE. Robert W. Baird raised their price objective on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Finally, Piper Sandler reduced their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Adobe 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.