Old Port Advisors Reduces Stock Holdings in Adobe Inc. $ADBE

Old Port Advisors lessened its position in Adobe Inc. (NASDAQ:ADBE) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 669 shares of the software company’s stock after selling 61 shares during the quarter. Old Port Advisors’ holdings in Adobe were worth $259,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Siemens Fonds Invest GmbH increased its position in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after purchasing an additional 39,888 shares in the last quarter. 1248 Management LLC acquired a new position in Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe in the 1st quarter valued at approximately $26,000. Flaharty Asset Management LLC acquired a new stake in Adobe during the 1st quarter worth approximately $29,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Adobe in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.8%

Adobe stock opened at $360.37 on Friday. The firm’s 50 day moving average price is $355.25 and its two-hundred day moving average price is $373.63. 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 has a market cap of $150.85 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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 firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business posted $4.65 EPS. The company’s 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. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a research report on Monday, August 11th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $450.00 in a report on Wednesday. Bank of America lifted their price objective on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Adobe presently has an average rating of “Hold” and an average price target 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.