Wealth Management Associates Inc. Buys 95 Shares of Adobe Inc. $ADBE

Wealth Management Associates Inc. lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 5.7% in the second quarter, HoldingsChannel reports. The fund owned 1,761 shares of the software company’s stock after acquiring an additional 95 shares during the period. Wealth Management Associates Inc.’s holdings in Adobe were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Quaker Wealth Management LLC grew its stake in shares of Adobe by 200.9% during the 2nd quarter. Quaker Wealth Management LLC now owns 451 shares of the software company’s stock valued at $174,000 after acquiring an additional 898 shares during the period. Bank of Jackson Hole Trust lifted its holdings in Adobe by 10.1% in the 2nd quarter. Bank of Jackson Hole Trust now owns 2,324 shares of the software company’s stock worth $899,000 after purchasing an additional 214 shares in the last quarter. Motco lifted its holdings in Adobe by 9.5% in the 2nd quarter. Motco now owns 23,449 shares of the software company’s stock worth $8,387,000 after purchasing an additional 2,039 shares in the last quarter. Fire Capital Management LLC lifted its holdings in Adobe by 1.3% in the 2nd quarter. Fire Capital Management LLC now owns 3,277 shares of the software company’s stock worth $1,268,000 after purchasing an additional 42 shares in the last quarter. Finally, Markel Group Inc. purchased a new position in Adobe in the 2nd quarter worth approximately $5,416,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

NASDAQ ADBE opened at $359.91 on Wednesday. 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. 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 business’s 50 day moving average price is $351.70 and its 200-day moving average price is $368.98. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for 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 company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter 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. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Morgan Stanley cut Adobe from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Redburn Partners set a $280.00 price target on Adobe in a report on Monday, September 1st. Finally, BMO Capital Markets decreased their price objective on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued 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, Adobe has an average rating of “Hold” and a consensus target price 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.