Pinnacle Wealth Planning Services Inc. Has $673,000 Stock Holdings in Adobe Inc. $ADBE

Pinnacle Wealth Planning Services Inc. decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,739 shares of the software company’s stock after selling 503 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Adobe were worth $673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordwand Advisors LLC bought a new position in shares of Adobe in the 2nd quarter valued at $463,000. Chiron Capital Management LLC increased its holdings in Adobe by 416.1% in the 2nd quarter. Chiron Capital Management LLC now owns 9,445 shares of the software company’s stock worth $3,654,000 after purchasing an additional 7,615 shares in the last quarter. LSV Asset Management raised its position in Adobe by 350.0% in the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after purchasing an additional 56 shares during the last quarter. Raiffeisen Bank International AG boosted its stake in shares of Adobe by 50.6% during the second quarter. Raiffeisen Bank International AG now owns 95,514 shares of the software company’s stock valued at $37,011,000 after purchasing an additional 32,104 shares in the last quarter. Finally, Symphony Financial Ltd. Co. bought a new stake in shares of Adobe during the second quarter worth about $58,560,000. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 0.2%

Shares of ADBE stock opened at $324.47 on Wednesday. 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 Inc. has a fifty-two week low of $320.80 and a fifty-two week high of $557.90. The stock has a 50 day simple moving average of $345.35 and a two-hundred day simple moving average of $366.32. The company has a market cap of $135.82 billion, a P/E ratio of 20.22, a PEG ratio of 1.51 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the company posted $4.65 earnings per share. The business’s quarterly revenue 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. Research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $405.00 price target on shares of Adobe in a research note on Wednesday, October 29th. Redburn Partners set a $280.00 price target on shares of Adobe in a report on Monday, September 1st. Barclays set a $465.00 price objective on Adobe and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Evercore ISI lowered their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $433.41.

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.