Wealth Management Associates Inc. Increases Stock Position in Adobe Inc. $ADBE

Wealth Management Associates Inc. raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,761 shares of the software company’s stock after buying an additional 95 shares during the quarter. Wealth Management Associates Inc.’s holdings in Adobe were worth $681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in shares of Adobe in the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe in the 1st quarter worth about $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe in the 1st quarter worth about $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe in the 1st quarter worth about $30,000. Finally, Nexus Investment Management ULC purchased a new position in shares of Adobe in the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ADBE. Royal Bank Of Canada lowered their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Redburn Atlantic lowered Adobe from a “hold” rating to a “strong sell” rating and lowered their price target for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Piper Sandler reduced their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, TD Cowen decreased their target price on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $433.41.

Adobe Trading Up 0.6%

Adobe stock opened at $359.91 on Wednesday. The business has a 50-day simple moving average of $351.70 and a two-hundred day simple moving average of $368.98. The company has a market cap of $150.66 billion, a P/E ratio of 22.42, a P/E/G ratio of 1.60 and a beta of 1.49. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. 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 results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.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 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. 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.