WealthBridge Investment Counsel Inc. Has $2.67 Million Holdings in Adobe Inc. $ADBE

Key Points

• WealthBridge Investment Counsel Inc. increased its stake in Adobe Inc. by 42.5%, now holding 6,902 shares worth $2.67 million as of the end of the recent quarter.
• Adobe's recent quarterly earnings outperformed expectations, reporting $5.31 EPS on revenues of $5.99 billion, exceeding consensus estimates of $5.18 EPS and $5.91 billion in revenue.
• Wall Street analysts have mixed views on Adobe's stock, with various price target adjustments, resulting in a consensus rating of "Moderate Buy" and an average target price around $435.63.

WealthBridge Investment Counsel Inc. increased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 42.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,902 shares of the software company's stock after acquiring an additional 2,060 shares during the quarter. WealthBridge Investment Counsel Inc.'s holdings in Adobe were worth $2,670,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH raised its holdings in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after acquiring an additional 39,888 shares in the last quarter. 1248 Management LLC bought a new position in shares of Adobe in the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the 1st quarter valued at about $26,000. SWAN Capital LLC purchased a new position in shares of Adobe in the fourth quarter worth about $28,000. Finally, Copia Wealth Management bought a new stake in shares of Adobe in the 4th quarter worth approximately $28,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADBE. Citigroup reduced 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. TD Cowen cut their price objective on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research report on Friday, September 12th. Piper Sandler dropped their target price on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating on the stock in a report on Friday, September 12th. Rothschild & Co Redburn cut shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price for the company. in a report on Wednesday, July 2nd. Finally, Mizuho lowered their price objective on shares of Adobe from $530.00 to $460.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Adobe has a consensus rating of "Moderate Buy" and an average target price of $435.63.

Adobe Stock Performance

Shares of ADBE opened at $365.90 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The firm has a market cap of $155.21 billion, a PE ratio of 22.80, a PEG ratio of 1.65 and a beta of 1.48. The stock's fifty day moving average price is $355.88 and its two-hundred day moving average price is $376.98.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $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. On average, equities research analysts forecast 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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