Adobe Inc. $ADBE Stock Holdings Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 154.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 293,751 shares of the software company's stock after purchasing an additional 178,290 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.07% of Adobe worth $111,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ADBE. Vanguard Group Inc. boosted its holdings in shares of Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock valued at $2,504,685,000 after buying an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock valued at $2,097,289,000 after buying an additional 126,688 shares during the period. Amundi boosted its holdings in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after buying an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the period. Institutional investors own 81.79% of the company's stock.

Adobe Stock Up 2.6%

NASDAQ ADBE opened at $362.07 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. The company's 50 day simple moving average is $355.91 and its 200 day simple moving average is $378.04. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The company has a market capitalization of $153.59 billion, a P/E ratio of 22.56, a PEG ratio of 1.58 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the firm earned $4.65 EPS. The business's revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Melius lowered shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target for the company. in a report on Monday, August 11th. Bank of America lifted their price target on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Barclays boosted their target price on shares of Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Finally, DA Davidson reissued a "buy" rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $435.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.