Dumont & Blake Investment Advisors LLC Invests $706,000 in Adobe Inc. $ADBE

Key Points

• Dumont & Blake Investment Advisors LLC invested $706,000 in Adobe Inc. by purchasing 1,824 shares in the second quarter, marking a new position for the firm.
• Several institutional investors, including Assenagon Asset Management and Goldman Sachs, significantly increased their stakes in Adobe, demonstrating strong interest in the company amongst large financial entities.
• Despite recent changes in price targets from various analysts, Adobe maintains an average rating of "Hold" with a consensus price target of $433.41.

Dumont & Blake Investment Advisors LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,824 shares of the software company's stock, valued at approximately $706,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADBE. Assenagon Asset Management S.A. boosted its position in shares of Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company's stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Adobe by 68.3% during 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 purchasing an additional 1,856,544 shares during the period. Nuveen LLC purchased a new position in shares of Adobe during the 1st quarter worth approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after purchasing an additional 1,216,351 shares during the period. Finally, Amundi boosted its position in shares of Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADBE. UBS Group lowered their price objective on shares of Adobe from $400.00 to $375.00 and set a "neutral" rating for the company in a research report on Friday, September 12th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. Oppenheimer lowered their price objective on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. Barclays raised their price target on shares of Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Finally, TD Cowen decreased their price target on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Adobe has an average rating of "Hold" and a consensus price target of $433.41.

Adobe Stock Performance

Shares of ADBE stock opened at $333.26 on Friday. The stock has a market capitalization of $139.50 billion, a PE ratio of 20.76, a P/E/G ratio of 1.49 and a beta of 1.49. The firm has a 50 day moving average of $350.99 and a two-hundred day moving average of $368.75. Adobe Inc. has a 52 week low of $327.50 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 - Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) 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 net margin of 30.01% and a return on equity of 57.54%. The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company 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. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal 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.

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