Verdence Capital Advisors LLC Boosts Stock Position in Adobe Inc. $ADBE

Key Points

• Verdence Capital Advisors LLC increased its holdings in Adobe Inc. by 20.7%, owning 4,862 shares worth approximately $1.88 million as of the latest SEC filing.
• Institutional investors collectively own 81.79% of Adobe's stock, indicating strong support from major financial institutions amid fluctuating analyst ratings.
• Adobe recently posted earnings of $5.31 per share, surpassing analyst forecasts and reporting a 10.7% year-over-year revenue increase to $5.99 billion.

Verdence Capital Advisors LLC increased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 20.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,862 shares of the software company's stock after purchasing an additional 833 shares during the period. Verdence Capital Advisors LLC's holdings in Adobe were worth $1,881,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Wealth Architects LLC lifted its holdings in Adobe by 9.8% in the 2nd quarter. Wealth Architects LLC now owns 1,096 shares of the software company's stock worth $424,000 after purchasing an additional 98 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Adobe by 17.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,063 shares of the software company's stock worth $3,893,000 after purchasing an additional 1,473 shares in the last quarter. Vest Financial LLC lifted its holdings in Adobe by 41.4% in the 2nd quarter. Vest Financial LLC now owns 6,359 shares of the software company's stock worth $2,460,000 after purchasing an additional 1,862 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in Adobe by 27.2% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 421,023 shares of the software company's stock worth $160,325,000 after purchasing an additional 89,993 shares in the last quarter. Finally, Pzena Investment Management LLC bought a new stake in Adobe in the 2nd quarter worth approximately $226,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADBE has been the topic of a number of research reports. Mizuho downgraded Adobe from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 24th. Melius downgraded Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective on the stock. in a research note on Monday, August 11th. Robert W. Baird lifted their price objective on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective on the stock. in a research note on Wednesday, July 2nd. Finally, Barclays lifted their price objective on Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $433.41.

Adobe Price Performance

ADBE opened at $339.32 on Tuesday. The business has a fifty day moving average of $351.68 and a 200 day moving average of $370.09. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. 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 stock has a market cap of $142.04 billion, a P/E ratio of 21.14, a PEG ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. During the same quarter in the previous year, the business earned $4.65 EPS. Adobe's revenue was up 10.7% compared to the same quarter last year. 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 anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Company 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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