GSB Wealth Management LLC Buys New Shares in Adobe Inc. $ADBE

Key Points

• GSB Wealth Management LLC has purchased 807 shares of Adobe Inc. valued at approximately $312,000, indicating growing institutional interest in the company.
• Vanguard Group and Goldman Sachs have both increased their stakes in Adobe by 0.4% and 68.3%, respectively, showcasing confidence from leading investment firms.
• Adobe recently reported earnings of $5.31 per share, beating expectations, with a revenue of $5.99 billion and an optimistic FY 2025 guidance for EPS of 20.800-20.850.

GSB Wealth Management LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 807 shares of the software company's stock, valued at approximately $312,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after acquiring an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Adobe by 14.4% during 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 acquiring an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Adobe by 2.4% during 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 acquiring an additional 126,688 shares in the last quarter. Amundi boosted its stake 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 acquiring an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake 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 acquiring an additional 1,856,544 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ADBE. Mizuho lowered their target price 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. Royal Bank Of Canada lowered their target price on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Rothschild & Co Redburn lowered shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target on the stock. in a research note on Wednesday, July 2nd. Finally, Bank of America raised their price target on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $435.63.

Adobe Trading Down 0.6%

Shares of Adobe stock opened at $361.78 on Wednesday. The firm has a market capitalization of $153.47 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.63 and a beta of 1.48. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. 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 stock has a 50 day moving average of $355.77 and a 200 day moving average of $375.30.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior 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 earnings per share for the current year.

About Adobe

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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