Maryland State Retirement & Pension System Acquires 299 Shares of Adobe Inc. $ADBE

Maryland State Retirement & Pension System boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 20,686 shares of the software company’s stock after purchasing an additional 299 shares during the period. Maryland State Retirement & Pension System’s holdings in Adobe were worth $8,003,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Schmidt P J Investment Management Inc. boosted its stake in shares of Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after purchasing an additional 25 shares in the last quarter. GS Investments Inc. raised its holdings in shares of Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after buying an additional 26 shares during the last quarter. Ted Buchan & Co raised its holdings in shares of Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after buying an additional 26 shares during the last quarter. Lifeworks Advisors LLC raised its holdings in shares of Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after buying an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. raised its holdings in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after buying an additional 27 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $348.77 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $146.00 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 1.56 and a beta of 1.49. The stock has a 50-day moving average of $352.08 and a 200-day moving average of $371.56. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on ADBE. Wells Fargo & Company reaffirmed 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. TD Cowen cut their price target on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a report on Monday, August 11th. Finally, Bank of America boosted their price objective on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.