Howard Capital Management Inc. Raises Stock Position in Adobe Inc. $ADBE

Howard Capital Management Inc. grew its position in Adobe Inc. (NASDAQ:ADBE) by 1.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,458 shares of the software company’s stock after purchasing an additional 120 shares during the period. Howard Capital Management Inc.’s holdings in Adobe were worth $4,820,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC purchased a new position in Adobe in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe during the 1st quarter worth $30,000. Finally, Nexus Investment Management ULC acquired a new stake in shares of Adobe during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $357.80 on Tuesday. The firm has a 50 day moving average of $351.72 and a two-hundred day moving average of $368.91. The stock has a market capitalization of $149.78 billion, a PE ratio of 22.29, a P/E/G ratio of 1.58 and a beta of 1.49. 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 Inc. has a 52 week low of $327.50 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company 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. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of several research analyst reports. UBS Group lowered their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. Barclays upped their price objective on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Citigroup dropped their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. BMO Capital Markets cut their target price on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Finally, Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Adobe presently has an average rating of “Hold” and an average 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.