Hudson Valley Investment Advisors Inc. ADV Decreases Holdings in Adobe Inc. $ADBE

Hudson Valley Investment Advisors Inc. ADV trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 9.0% in the second quarter, Holdings Channel reports. The firm owned 24,337 shares of the software company’s stock after selling 2,399 shares during the period. Adobe makes up 1.0% of Hudson Valley Investment Advisors Inc. ADV’s portfolio, making the stock its 27th biggest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in Adobe were worth $9,416,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ADBE. 1248 Management LLC purchased a new position in Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe in the 1st quarter valued at about $26,000. Flaharty Asset Management LLC purchased a new position in Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC purchased a new position in Adobe in the 1st quarter valued at about $30,000. Finally, Garde Capital Inc. purchased a new position in Adobe in the 1st quarter valued at about $34,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

ADBE opened at $346.74 on Friday. The firm has a market cap of $145.15 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The company’s 50-day moving average price is $353.22 and its 200 day moving average price is $372.37. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

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, topping 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%. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business 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. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADBE. Oppenheimer decreased their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research report on Tuesday, September 9th. Melius cut shares of 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. Redburn Partners set a $280.00 price objective on shares of Adobe in a research report on Monday, September 1st. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Finally, Piper Sandler cut their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus 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.