Violich Capital Management Inc. Has $1.68 Million Position in Adobe Inc. $ADBE

Key Points

• Violich Capital Management Inc. reduced its stake in Adobe Inc. by 18.3%, owning 4,338 shares valued at approximately $1.68 million after selling 974 shares in Q2.
• Adobe's recent quarterly earnings surpassed expectations, reporting $5.31 earnings per share on revenue of $5.99 billion, indicating a 10.7% increase year-over-year.
• Several institutional investors, including Goldman Sachs Group Inc. and Vanguard Group Inc., have increased their holdings in Adobe, reflecting positive sentiment, despite recent analyst target price reductions.

Violich Capital Management Inc. lessened its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 18.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,338 shares of the software company's stock after selling 974 shares during the quarter. Violich Capital Management Inc.'s holdings in Adobe were worth $1,678,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after purchasing an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Adobe by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock valued at $2,504,685,000 after purchasing an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Adobe by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock valued at $2,097,289,000 after purchasing an additional 126,688 shares during the last quarter. Amundi increased its holdings in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings 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 valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Stock Up 1.2%

ADBE stock opened at $333.26 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $139.50 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.49 and a beta of 1.49. The business has a 50-day moving average of $350.99 and a 200-day moving average of $368.75. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90.

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 for the quarter, topping 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 return on equity of 57.54% and a net margin of 30.01%.Adobe's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm 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. On average, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley cut Adobe from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. TD Cowen decreased their target price on Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research note on Friday, September 12th. Weiss Ratings reissued a "hold (c-)" rating on shares of Adobe in a research note on Wednesday, October 8th. Oppenheimer decreased their target price on Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Finally, UBS Group decreased their target price on Adobe from $400.00 to $375.00 and set a "neutral" rating for the company in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $433.41.

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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