Adobe Inc. $ADBE Holdings Reduced by Chronos Wealth Management LLC

Chronos Wealth Management LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,755 shares of the software company’s stock after selling 45 shares during the period. Adobe makes up approximately 1.4% of Chronos Wealth Management LLC’s holdings, making the stock its 23rd biggest position. Chronos Wealth Management LLC’s holdings in Adobe were worth $2,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BCS Wealth Management bought a new position in Adobe in the 2nd quarter worth about $227,000. Accurate Wealth Management LLC bought a new position in Adobe in the 2nd quarter worth about $263,000. Waycross Partners LLC grew its position in Adobe by 3.8% in the 2nd quarter. Waycross Partners LLC now owns 42,488 shares of the software company’s stock worth $16,438,000 after purchasing an additional 1,555 shares during the last quarter. Covea Finance grew its position in Adobe by 13.8% in the 2nd quarter. Covea Finance now owns 86,379 shares of the software company’s stock worth $33,418,000 after purchasing an additional 10,490 shares during the last quarter. Finally, Unified Investment Management grew its position in Adobe by 11.8% in the 2nd quarter. Unified Investment Management now owns 1,746 shares of the software company’s stock worth $675,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Royal Bank Of Canada decreased their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. BMO Capital Markets decreased their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Bank of America increased their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a report on Friday, June 13th. Finally, Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $435.63.

Adobe Stock Down 0.6%

Adobe stock opened at $361.78 on Wednesday. The firm has a market cap of $153.47 billion, a PE ratio of 22.54, a P/E/G ratio of 1.63 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The firm’s 50 day moving average price is $355.77 and its two-hundred day moving average price is $375.30. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90.

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

Adobe 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.