McKinley Carter Wealth Services Inc. Increases Position in Adobe Inc. $ADBE

McKinley Carter Wealth Services Inc. grew its stake in Adobe Inc. (NASDAQ:ADBE) by 17.1% during the second quarter, HoldingsChannel reports. The fund owned 14,850 shares of the software company’s stock after acquiring an additional 2,166 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Adobe were worth $5,745,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Schmidt P J Investment Management Inc. raised its holdings in shares of Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after acquiring an additional 25 shares during the last quarter. GS Investments Inc. grew its position in shares of Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after purchasing an additional 26 shares in the last quarter. Ted Buchan & Co grew its position in shares of Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after purchasing an additional 26 shares in the last quarter. Lifeworks Advisors LLC grew its position in shares of Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after purchasing an additional 27 shares in the last quarter. Finally, VanderPol Investments L.L.C. grew its position in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after purchasing an additional 27 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Down 0.4%

Shares of Adobe stock opened at $347.47 on Friday. The firm has a market capitalization of $145.45 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.56 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 has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average of $351.88 and a 200 day moving average of $371.24.

Adobe (NASDAQ:ADBE) last issued 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the business posted $4.65 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. 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, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

ADBE has been the subject of a number of analyst reports. Phillip Securities upgraded Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target for the company. in a research report on Wednesday, July 2nd. Evercore ISI dropped their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Stifel Nicolaus dropped their price target on Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research report on Friday, June 13th. Finally, Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $433.41.

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.