Foster Victor Wealth Advisors LLC Grows Stock Holdings in Adobe Inc. $ADBE

Key Points

• Foster Victor Wealth Advisors LLC increased its stake in Adobe Inc. by 3.0% during the 2nd quarter, owning 52,757 shares valued at approximately $19.7 million.
• A total of 81.79% of Adobe's stock is held by hedge funds and institutional investors, indicating strong interest in the company among financial professionals.
• Adobe reported quarterly earnings of $5.31 EPS, exceeding analysts' expectations, with revenue of $5.99 billion, up 10.7% year-over-year.

Foster Victor Wealth Advisors LLC increased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,757 shares of the software company's stock after purchasing an additional 1,528 shares during the quarter. Adobe accounts for 1.3% of Foster Victor Wealth Advisors LLC's portfolio, making the stock its 16th largest position. Foster Victor Wealth Advisors LLC's holdings in Adobe were worth $19,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH boosted its stake in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares during the last quarter. 1248 Management LLC bought a new position in Adobe in the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe in the first quarter worth about $26,000. Copia Wealth Management purchased a new position in Adobe in the fourth quarter worth about $28,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Adobe during the 1st quarter valued at about $29,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

ADBE stock opened at $361.78 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The company's fifty day moving average price is $355.77 and its 200-day moving average price is $375.30. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The company has a market capitalization of $153.47 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating 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 company 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 posted $4.65 EPS. Adobe's revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of several recent research reports. Mizuho lowered their price objective on shares of Adobe from $530.00 to $460.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Redburn Partners set a $280.00 target price on shares of Adobe in a report on Monday, September 1st. DA Davidson reiterated a "buy" rating and issued a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. 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 report on Friday, September 12th. Finally, Robert W. Baird upped their price objective on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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