Fifth Third Bancorp Has $38.60 Million Stock Holdings in Adobe Inc. $ADBE

Fifth Third Bancorp decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,773 shares of the software company’s stock after selling 15,288 shares during the quarter. Fifth Third Bancorp’s holdings in Adobe were worth $38,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADBE. Copia Wealth Management acquired a new position in shares of Adobe during the 4th quarter valued at $28,000. 1248 Management LLC acquired a new stake in Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the first quarter valued at $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe during the first quarter valued at about $29,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Adobe during the 1st quarter worth about $30,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Down 2.4%

NASDAQ ADBE opened at $353.27 on Thursday. The firm has a market capitalization of $149.86 billion, a P/E ratio of 22.01, a PEG ratio of 1.62 and a beta of 1.48. The business has a fifty day simple moving average of $355.60 and a 200 day simple moving average of $375.14. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $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. On average, analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ADBE. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Oppenheimer reduced their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Mizuho lowered their target price on Adobe from $530.00 to $460.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a report on Monday, August 11th. Finally, Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.