Trust Co. of Vermont Has $12.69 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Trust Co. of Vermont increased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,086 shares of the software company's stock after purchasing an additional 1,804 shares during the period. Trust Co. of Vermont's holdings in Adobe were worth $12,689,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Siemens Fonds Invest GmbH raised its holdings in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after purchasing an additional 39,888 shares during the period. SWAN Capital LLC acquired a new position in shares of Adobe in the 4th quarter valued at $28,000. Copia Wealth Management bought a new stake in shares of Adobe in the 4th quarter valued at $28,000. Summit Securities Group LLC acquired a new stake in Adobe during the 4th quarter worth $31,000. Finally, Garde Capital Inc. acquired a new stake in Adobe during the 1st quarter worth $34,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company restated an "overweight" rating and issued a $470.00 price target (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Piper Sandler decreased their price objective on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. BMO Capital Markets reissued an "outperform" rating and set a $450.00 target price on shares of Adobe in a research note on Friday, June 13th. Stifel Nicolaus dropped their target price on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Adobe currently has a consensus rating of "Moderate Buy" and an average target price of $496.75.

Adobe Price Performance

NASDAQ:ADBE opened at $384.95 on Friday. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company has a market cap of $164.07 billion, a P/E ratio of 24.63, a P/E/G ratio of 1.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99. The stock's 50-day simple moving average is $392.49 and its 200 day simple moving average is $412.76.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the firm earned $4.48 EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company 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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