Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 1,124 Shares of Adobe Inc. $ADBE

Key Points

• Empirical Financial Services LLC increased its stake in Adobe Inc. by 4.1%, adding 1,124 shares during the second quarter, bringing its total holdings to 28,604 shares valued at approximately $11.1 million.
• Adobe reported earnings of $5.31 per share for its recent quarter, exceeding expectations of $5.18, with revenue of $5.99 billion, surpassing forecasts of $5.91 billion.
• Analysts have mixed ratings on Adobe stock, with a consensus rating of "Hold" and a price target averaging $433.41, following recent downgrades and price target reductions from multiple firms.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,604 shares of the software company's stock after purchasing an additional 1,124 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Adobe were worth $11,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1248 Management LLC bought a new position in shares of Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe during the 1st quarter worth approximately $26,000. Flaharty Asset Management LLC bought a new position in Adobe during the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new position in Adobe during the 1st quarter worth approximately $30,000. Finally, Garde Capital Inc. bought a new position in Adobe during the 1st quarter worth approximately $34,000. Institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $351.48 on Friday. The stock has a market cap of $147.13 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49. The firm's fifty day simple moving average is $353.70 and its 200 day simple moving average is $372.68. Adobe Inc. has a twelve month low of $330.04 and a twelve month 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 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 business had revenue of $5.99 billion for 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 firm'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 business posted $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. As a group, research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Rothschild & Co Redburn lowered shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective for the company. in a research note on Wednesday, July 2nd. Stifel Nicolaus lowered their price objective on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and lowered their price objective for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. 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 note on Friday, September 12th. Finally, BMO Capital Markets decreased their price target on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Adobe has a consensus rating of "Hold" and a consensus price target 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.

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