CMH Wealth Management LLC Trims Holdings in Adobe Inc. $ADBE

Key Points

• CMH Wealth Management LLC reduced its stake in Adobe Inc. by 37.1%, leaving it with 18,963 shares valued at approximately $7.3 million.
• Despite CMH's reduction, several institutional investors like Vanguard Group and Goldman Sachs increased their stakes in Adobe, indicating strong ongoing institutional interest.
• Adobe's latest quarterly earnings report showed a revenue of $5.99 billion and an earnings per share of $5.31, exceeding analysts' expectations.

CMH Wealth Management LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 37.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,963 shares of the software company's stock after selling 11,203 shares during the period. Adobe makes up about 1.7% of CMH Wealth Management LLC's holdings, making the stock its 28th biggest holding. CMH Wealth Management LLC's holdings in Adobe were worth $7,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after buying an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp grew its stake in 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 worth $2,504,685,000 after buying an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 worth $2,097,289,000 after buying an additional 126,688 shares in the last quarter. Amundi grew its stake in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after buying an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore ISI cut their price target on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a research note on Friday, September 12th. Melius cut shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. Redburn Atlantic cut shares of Adobe from a "hold" rating to a "strong sell" rating and cut their price objective for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Royal Bank Of Canada cut their price objective on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Finally, UBS Group cut their price objective 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. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Adobe currently has a consensus rating of "Moderate Buy" and a consensus price target of $435.63.

Adobe Trading Down 0.3%

NASDAQ ADBE traded down $0.93 during trading on Tuesday, hitting $363.16. The company had a trading volume of 1,697,335 shares, compared to its average volume of 3,947,370. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The company has a market cap of $154.05 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. The company's fifty day moving average is $355.82 and its 200-day moving average is $375.39.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the business earned $4.65 EPS. The company'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. On average, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.