McKinley Carter Wealth Services Inc. Grows Position in Adobe Inc. $ADBE

Key Points

• McKinley Carter Wealth Services Inc. increased its holdings in Adobe Inc. by 17.1%, owning 14,850 shares valued at approximately $5.74 million as of its latest SEC filing.
• Adobe reported earnings of $5.31 per share, surpassing analysts' expectations, with a 10.7% year-over-year revenue increase to $5.99 billion.
• Brokerages have varied ratings for Adobe, with Wells Fargo maintaining an "overweight" rating and a target price increase to $470.00, while Morgan Stanley downgraded its rating to "equal weight."

McKinley Carter Wealth Services Inc. raised its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,850 shares of the software company's stock after buying an additional 2,166 shares during the quarter. McKinley Carter Wealth Services Inc.'s holdings in Adobe were worth $5,745,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in Adobe during the 1st quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe during the 1st quarter valued at approximately $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe in the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe in the 1st quarter worth approximately $30,000. Finally, Garde Capital Inc. purchased a new position in shares of Adobe in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Trading Down 0.4%

Shares of NASDAQ ADBE opened at $347.47 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $351.88 and a two-hundred day simple moving average of $371.24. The firm has a market cap of $145.45 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.49. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The business 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%.Adobe's revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $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. Analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ADBE. Wells Fargo & Company reiterated an "overweight" rating and issued a $470.00 target price (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Morgan Stanley cut Adobe from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Evercore ISI dropped their target price on Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a report on Friday, September 12th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Adobe in a report on Wednesday. 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Adobe has an average 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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