Choate Investment Advisors Has $18.57 Million Stock Holdings in Adobe Inc. $ADBE

Key Points

• Choate Investment Advisors cut its Adobe stake by 15.3% in the fourth quarter, leaving it with 53,063 shares valued at about $18.57 million.
• Adobe’s stock has drawn mixed analyst sentiment: the consensus rating remains Hold with an average price target of $338.15, even as several firms recently lowered their targets.
• The company remains active on capital returns and operations, with Adobe authorizing a $25 billion share buyback and reporting quarterly earnings that beat estimates on both EPS and revenue.

Choate Investment Advisors decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,063 shares of the software company's stock after selling 9,569 shares during the period. Choate Investment Advisors' holdings in Adobe were worth $18,572,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Western Pacific Wealth Management LP acquired a new position in Adobe during the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC acquired a new position in Adobe during the third quarter worth $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Adobe during the third quarter worth $27,000. Caitlin John LLC acquired a new position in Adobe during the third quarter worth $28,000. Finally, Beacon Financial Strategies CORP acquired a new position in Adobe during the fourth quarter worth $28,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. HSBC set a $302.00 price objective on shares of Adobe in a report on Friday, February 13th. Stifel Nicolaus lowered their price objective on shares of Adobe from $450.00 to $400.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Citigroup reiterated a "neutral" rating on shares of Adobe in a research note on Friday, April 10th. Royal Bank Of Canada reduced their target price on shares of Adobe from $400.00 to $350.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Adobe from $520.00 to $420.00 and set an "overweight" rating for the company in a research note on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $338.15.

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 1,336 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the transaction, the chief financial officer owned 42,833 shares in the company, valued at approximately $10,623,440.66. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 755 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $246.25, for a total transaction of $185,918.75. Following the sale, the chief accounting officer directly owned 3,521 shares in the company, valued at approximately $867,046.25. This trade represents a 17.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by company insiders.

Adobe Price Performance

ADBE opened at $244.76 on Monday. The firm has a market cap of $98.93 billion, a P/E ratio of 14.26, a PEG ratio of 0.95 and a beta of 1.42. The firm has a 50-day moving average of $245.05 and a 200 day moving average of $287.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. Adobe Inc. has a fifty-two week low of $224.13 and a fifty-two week high of $421.48.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.87 by $0.19. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, research analysts expect that Adobe Inc. will post 19.14 EPS for the current year.

Adobe announced that its board has approved a stock buyback plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to repurchase up to 24.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is getting fresh buzz from its deeper integration with Google Gemini, including the ability for users to access Photoshop and Premiere Pro tools inside the AI assistant. That could expand Adobe’s reach and strengthen demand for its creative software. Article Title
• Positive Sentiment: Articles highlighting Adobe’s Digital Experience business say the company is well positioned to benefit from the digital content boom, with Experience Cloud and AI tools like Firefly and Sensei serving demand in ads and e-commerce. Article Title
• Positive Sentiment: Some market commentary argues Adobe looks inexpensive relative to its growth outlook after the broad software selloff, which may be attracting value-oriented investors. Article Title
• Neutral Sentiment: Additional coverage says Adobe is using agentic AI to defend its software moat, reinforcing the view that management is leaning into AI to support its competitive position. Article Title
• Negative Sentiment: One market recap noted Adobe stock fell in the latest session while the broader market advanced, underscoring continued volatility and investor caution around the name. Article Title
• Negative Sentiment: Governance-related headlines are also adding a small overhang, with renewed attention on trading activity tied to Adobe shares amid existing shareholder litigation. Article Title

Adobe Company Profile

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company's core offerings are organized around digital media and digital experience.

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