Capital Investment Counsel LLC Raises Holdings in Adobe Inc. $ADBE

Key Points

• Capital Investment Counsel LLC increased its stock holdings in Adobe Inc. by 13.0% in Q1, owning 12,557 shares valued at $4.82 million as of the latest SEC filing.
• Adobe reported earnings of $5.06 EPS for the recent quarter, surpassing analyst estimates of $4.97, while revenue increased by 10.6% year-over-year to $5.87 billion.
• Analysts have set varying price targets for Adobe's stock, with a consensus target average of $466.42, reflecting a range of buy and sell ratings from different research firms.

Capital Investment Counsel LLC boosted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,557 shares of the software company's stock after purchasing an additional 1,449 shares during the period. Capital Investment Counsel LLC's holdings in Adobe were worth $4,816,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. 1248 Management LLC bought a new position in shares of Adobe in the first quarter worth $25,000. Focus Partners Advisor Solutions LLC raised its position in Adobe by 43.9% during the first quarter. Focus Partners Advisor Solutions LLC now owns 8,411 shares of the software company's stock valued at $3,226,000 after purchasing an additional 2,567 shares in the last quarter. First Financial Bankshares Inc raised its position in Adobe by 15.7% during the first quarter. First Financial Bankshares Inc now owns 45,578 shares of the software company's stock valued at $17,481,000 after purchasing an additional 6,188 shares in the last quarter. One Wealth Capital Management LLC increased its holdings in shares of Adobe by 5.2% in the first quarter. One Wealth Capital Management LLC now owns 2,500 shares of the software company's stock worth $959,000 after buying an additional 123 shares during the period. Finally, Flputnam Investment Management Co. increased its holdings in shares of Adobe by 3.9% in the first quarter. Flputnam Investment Management Co. now owns 22,799 shares of the software company's stock worth $8,744,000 after buying an additional 865 shares during the period. 81.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stifel Nicolaus cut their target price on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research note on Friday, June 13th. Bank of America boosted their price target on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Evercore ISI restated an "outperform" rating and issued a $475.00 price objective on shares of Adobe in a report on Friday, June 13th. Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. Finally, Melius downgraded shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective for the company. in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $452.67.

Adobe Trading Up 1.4%

Adobe stock traded up $4.66 during midday trading on Friday, reaching $348.97. The stock had a trading volume of 4,661,454 shares, compared to its average volume of 3,273,635. The firm has a market cap of $148.03 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48. The company has a fifty day moving average of $360.40 and a 200 day moving average of $383.12. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $587.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $4.48 earnings per share. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. On average, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.