Yoder Wealth Management Inc. Sells 70 Shares of Adobe Inc. $ADBE

Yoder Wealth Management Inc. decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 10.6% in the 2nd quarter, Holdings Channel reports. The fund owned 590 shares of the software company’s stock after selling 70 shares during the quarter. Yoder Wealth Management Inc.’s holdings in Adobe were worth $228,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Assenagon Asset Management S.A. grew its stake in shares of Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after acquiring an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the period. Nuveen LLC purchased a new stake in shares of Adobe in the first quarter worth about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after acquiring an additional 1,216,351 shares during the period. Finally, Amundi boosted its position in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after acquiring an additional 961,895 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of a number of analyst reports. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Bank of America raised their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Mizuho lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Evercore ISI cut their price objective on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Finally, BMO Capital Markets lowered their price target on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given 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, the stock has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $346.74 on Friday. The stock has a market cap of $145.15 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 1.58 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The stock’s 50-day moving average is $353.22 and its 200 day moving average is $372.37.

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 company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $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, sell-side analysts anticipate 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.