Meyer Handelman Co. Has $8.69 Million Position in Adobe Inc. $ADBE

Key Points

• Meyer Handelman Co. increased its holdings in Adobe Inc. by 35.6% during the second quarter, resulting in an investment position worth approximately $8.69 million.
• Multiple institutional investors boosted their stakes in Adobe, with Goldman Sachs Group Inc. raising its position by 68.3% and GAMMA Investing LLC increasing its stake by over 46,800%.
• Adobe reported a net margin of 30.01% and year-over-year revenue growth of 10.7%, exceeding analysts' earnings estimates for the last quarter.

Meyer Handelman Co. grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 35.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,460 shares of the software company's stock after purchasing an additional 5,900 shares during the quarter. Meyer Handelman Co.'s holdings in Adobe were worth $8,689,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADBE. GAMMA Investing LLC boosted its stake in Adobe by 46,806.6% in the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after purchasing an additional 2,984,391 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company's stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. Nuveen LLC acquired a new position in Adobe in the first quarter worth $607,443,000. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after purchasing an additional 1,216,351 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADBE. UBS Group cut their price target on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a research note on Friday, September 12th. Mizuho cut their price target on Adobe from $530.00 to $460.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Melius lowered Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target on the stock. in a research note on Monday, August 11th. Bank of America upped their price target on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Robert W. Baird upped their price target on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $433.41.

Adobe Trading Up 0.3%

NASDAQ ADBE opened at $354.16 on Friday. The stock has a 50-day simple moving average of $355.36 and a 200 day simple moving average of $374.59. The company has a market capitalization of $150.23 billion, a PE ratio of 22.07, a P/E/G ratio of 1.58 and a beta of 1.48. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data 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 business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm's revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company 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. Research analysts forecast that Adobe Inc. will post 16.65 EPS 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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