Fulton Breakefield Broenniman LLC Sells 1,674 Shares of Adobe Inc. $ADBE

Fulton Breakefield Broenniman LLC trimmed its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,324 shares of the software company's stock after selling 1,674 shares during the period. Fulton Breakefield Broenniman LLC's holdings in Adobe were worth $9,024,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ADBE. Vanguard Group Inc. grew its position in Adobe by 0.4% during 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 acquiring an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp grew its position in Adobe by 14.4% during 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 acquiring an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 worth $2,097,289,000 after purchasing an additional 126,688 shares during the last quarter. Amundi grew its holdings in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ADBE. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. Robert W. Baird raised their price target on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Redburn Partners set a $280.00 price target on Adobe in a research note on Monday, September 1st. Royal Bank Of Canada dropped their price target on Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Finally, Rothschild & Co Redburn lowered Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target for the company. in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Adobe presently has a consensus rating of "Hold" and a consensus target price of $433.41.

Adobe Price Performance

NASDAQ ADBE opened at $348.77 on Thursday. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The stock has a 50-day moving average of $352.08 and a 200 day moving average of $371.56. The company has a market capitalization of $146.00 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.56 and a beta of 1.49. 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 (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the company earned $4.65 EPS. Adobe's revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS 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.

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