Steigerwald Gordon & Koch Inc. Purchases 1,019 Shares of Adobe Inc. $ADBE

Key Points

• Steigerwald Gordon & Koch Inc. increased its stake in Adobe Inc. by 2.5%, acquiring an additional 1,019 shares, bringing its total holdings to 41,783 shares valued at approximately $16.17 million.
• Adobe reported a $5.31 EPS for the latest quarter, exceeding analyst expectations, with a revenue of $5.99 billion, representing a year-over-year growth of 10.7%.
• Major financial institutions have shown increased interest in Adobe, with significant percentage lifts in holdings by firms like Opal Wealth Advisors LLC (27.2%) and Arlington Partners LLC (29.6%) during the second quarter.

Steigerwald Gordon & Koch Inc. lifted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,783 shares of the software company's stock after purchasing an additional 1,019 shares during the period. Adobe accounts for about 1.7% of Steigerwald Gordon & Koch Inc.'s holdings, making the stock its 27th biggest position. Steigerwald Gordon & Koch Inc.'s holdings in Adobe were worth $16,165,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Occidental Asset Management LLC lifted its position in shares of Adobe by 6.4% during the second quarter. Occidental Asset Management LLC now owns 662 shares of the software company's stock valued at $256,000 after purchasing an additional 40 shares in the last quarter. Opal Wealth Advisors LLC lifted its position in shares of Adobe by 27.2% during the second quarter. Opal Wealth Advisors LLC now owns 524 shares of the software company's stock valued at $203,000 after purchasing an additional 112 shares in the last quarter. Gries Financial LLC bought a new position in shares of Adobe during the second quarter valued at about $207,000. Golden State Equity Partners lifted its position in shares of Adobe by 23.1% during the second quarter. Golden State Equity Partners now owns 1,311 shares of the software company's stock valued at $507,000 after purchasing an additional 246 shares in the last quarter. Finally, Arlington Partners LLC lifted its position in shares of Adobe by 29.6% during the second quarter. Arlington Partners LLC now owns 11,252 shares of the software company's stock valued at $4,353,000 after purchasing an additional 2,570 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $364.08 on Tuesday. The company has a 50 day moving average of $355.82 and a 200 day moving average of $375.39. The stock has a market cap of $154.44 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.64 and a beta of 1.48. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. 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 (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $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, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ADBE shares. 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 report on Friday, June 13th. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Barclays lifted their price objective on shares of Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Citigroup lowered their price objective on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. Finally, Stifel Nicolaus lowered their price objective on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $435.63.

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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