Centennial Wealth Advisory LLC Makes New Investment in Adobe Inc. $ADBE

Centennial Wealth Advisory LLC acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 563 shares of the software company’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Garde Capital Inc. bought a new position in shares of Adobe during the first quarter valued at approximately $34,000. PFG Advisors boosted its stake in shares of Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after purchasing an additional 855 shares in the last quarter. Krane Funds Advisors LLC boosted its stake in shares of Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock valued at $533,000 after purchasing an additional 730 shares in the last quarter. Financial Counselors Inc. boosted its stake in shares of Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC bought a new position in shares of Adobe during the first quarter valued at approximately $305,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent research reports. Wells Fargo & Company reiterated an “overweight” rating and set a $470.00 price objective (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Citigroup cut their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. TD Cowen cut their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Robert W. Baird lifted their price target on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Finally, Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Price Performance

Shares of ADBE opened at $359.42 on Tuesday. The firm has a market capitalization of $150.45 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The company’s fifty day moving average price is $355.08 and its 200-day moving average price is $373.36.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

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.