HCR Wealth Advisors Boosts Stake in Adobe Inc. $ADBE

HCR Wealth Advisors raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,429 shares of the software company’s stock after purchasing an additional 87 shares during the quarter. HCR Wealth Advisors’ holdings in Adobe were worth $1,327,000 at the end of the most recent reporting period.

A number of other large investors 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 $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the 1st quarter valued at about $26,000. Flaharty Asset Management LLC purchased a new position in Adobe in the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new stake in Adobe during the first quarter worth approximately $30,000. Finally, Garde Capital Inc. bought a new stake in Adobe during the first quarter worth approximately $34,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 0.3%

Shares of NASDAQ:ADBE opened at $359.42 on Tuesday. The business’s 50 day moving average is $355.08 and its 200 day moving average is $373.36. The stock has a market cap of $150.45 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. Adobe Inc. has a 52-week low of $330.04 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 issued its earnings results 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 business had revenue of $5.99 billion during 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%.The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $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. Sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ADBE shares. Robert W. Baird lifted their target price on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Citigroup dropped their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Oppenheimer lowered their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. Finally, Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Adobe presently has an average rating of “Hold” and a consensus target price of $433.41.

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.