Lorne Steinberg Wealth Management Inc. Buys 1,730 Shares of Adobe Inc. $ADBE

Key Points

• Lorne Steinberg Wealth Management Inc. increased its stake in Adobe Inc. by 13.8%, acquiring an additional 1,730 shares, bringing its total to 14,275 shares valued at approximately $5.5 million.
• Adobe's recent quarterly earnings exceeded analysts' estimates, reporting $5.31 EPS and $5.99 billion in revenue, leading to a year-over-year revenue increase of 10.7%.
• Investment analysts have a consensus rating of "Hold" for Adobe, with an average target price of $433.41, reflecting varying opinions on the stock's future performance.

Lorne Steinberg Wealth Management Inc. increased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,275 shares of the software company's stock after purchasing an additional 1,730 shares during the quarter. Lorne Steinberg Wealth Management Inc.'s holdings in Adobe were worth $5,523,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. 1248 Management LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $26,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $30,000. Finally, Nexus Investment Management ULC bought a new stake in shares of Adobe in the 2nd quarter worth approximately $31,000. Institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent research reports. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. Barclays lifted their price objective on shares of Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Oppenheimer reduced their price objective on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Wall Street Zen lowered shares of Adobe from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and reduced their price objective for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Adobe currently has a consensus rating of "Hold" and an average target price of $433.41.

Adobe Stock Up 1.2%

ADBE opened at $333.26 on Monday. The company has a fifty day moving average price of $350.99 and a 200-day moving average price of $368.76. The firm has a market capitalization of $139.50 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the business 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. Equities research analysts expect that Adobe Inc. will post 16.65 earnings per share 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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