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Comerica Bank Decreases Stock Holdings in Adobe Inc. $ADBE
Comerica Bank reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 11.5% in the fourth quarter, selling 9,859 shares and holding 76,156 shares valued at $26.65 million. While Comerica decreased its holdings, several other institutional investors such as Riverbend Wealth Management LLC, Beacon Financial Advisory LLC, and MCF Advisors LLC increased their positions in Adobe during the third quarter. The article also highlights mixed analyst sentiment, recent AI product upgrades, and a $25 billion share buyback program as key factors influencing Adobe’s stock performance amidst broader software sector weakness and competitive concerns.